Inputs to a GL/BR process typically include all of the following except:
a. adjusting entry journal voucher
b. adjusted trial balance
c. finalized budget
d. GAAP-based financial statements
D
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Sherman, Inc counted its ending inventory as $178,000 at year-end, January 31, 2016 . Upon review of the records, it was noted that the following items were in transit during the count: A) $2,000 of goods shipped by a supplier to Sherman sent FOB destination on January 31 were received February 5, and were not counted by Sherman. B) $5,000 of goods shipped by a supplier to Sherman sent FOB
shipping point on January 30 were received February 2, and were not counted by Sherman. C) $6,000 of goods shipped by Sherman to a customer FOB shipping point on January 31 were received by the customer February 3, and were counted by Sherman. Determine the correct inventory balance at January 31. a. $172,000 b. $174,000 c. $178,000 d. $177,000
Mansfield Pharmaceuticals markets Zipro, an antibiotic. The firm has fixed costs of $1,000,000 and variable costs of $2 per bottle of 50 tablets priced at $10 per bottle. What is the break-even volume?
A) 25,000 B) 55,000 C) 100,000 D) 115,000 E) 125,000
The rule of necessity allows an agency to conduct an immediate hearing without
adequate notice when an emergency exists. a. True b. False
Which of the following is NOT a goal of robust design?
a. designing products that are insensitive to changes in different environmental conditions b. designing products that are not easily affected by machine wear and tear c. designing products that can handle minor differences in raw materials d. designing products that can handle variations in the price of raw materials