The correct entry for each sale of a finished good on account is:
A) debit Cost of Goods Sold, credit Finished Goods
B) debit Cost of Goods Sold, credit Finished Goods, debit Accounts Receivable, credit Sales
C) debit Sales Expense, credit Finished Goods, credit Cash, credit Accounts Receivable
D) debit Work in Process, credit Finished Goods, debit Accounts Receivable, credit Sales
B
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Which of the following exemplifies the best use of utility for a selection procedure?
A. Buffington High School conducts several rounds of interviews to recruit a maintenance worker. B. Car Care, a local car wash, employs a three-month-long selection procedure for hiring one of its operators. C. A local gas station has a recruitment procedure that spans four months for the position of a cashier. D. Fritter Corp., an international investment firm, spends close to a million dollars to hire a renowned economist as its new CEO. E. Tina's Treats, a suburban diner, spends a lot of time and money recruiting a server.
IFRS does not allow the use of LIFO because it
A) would have to be allowed for tax reporting in each country. B) would result in too many overstatements of income. C) is inconsistent with any presumed physical flow of inventory. D) would have to be the only method permitted.
Types of Audit Opinions Bacon, CPAs, is the principal auditor for Martin Industries, a U.S. public company. However, Bacon decides to refer to the work of Hsu and Wen, CPAs, who audited a wholly owned subsidiary of the entity and issued an unqualified opinion. REQUIRED: Which type of audit report would you suggest be issued this year and why?
If the group chooses to minimize their maximum regret, what activity will they choose?
A group of friends are planning a recreational outing and have constructed the following payoff table to help them decide which activity to engage in. Assume that the payoffs represent their level of enjoyment for each activity under the various weather conditions. Weather Cold Warm Rainy S1 S2 S3 Bike: A1 10 8 6 Hike: A2 14 15 2 Fish: A3 7 8 9