Explain integrations and the role they play in connecting a corporation.
What will be an ideal response?
Integrations allow separate systems to communicate directly with each other, eliminating the need for manual entry into multiple systems. Building integrations allows information sharing across databases along with dramatic increase of quality.
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Western Sky Company sold 500 units of inventory at $25 per unit for cash. The company uses the perpetual inventory system and the FIFO inventory costing method. The beginning inventory included 550 units at a cost of $15 per unit. The cost of the most recent purchases is $10 per unit. Prepare the journal entries to record the sale. Omit explanations.
What will be an ideal response?
When the equity method is used to account for an investment in stock, dividends received by the investor decrease the investment account
Indicate whether the statement is true or false
Legislators created a form of business called corporations to encourage people to engage in business activities.
Answer the following statement true (T) or false (F)
Cost-volume-profit relationships that are curvilinear may be analyzed linearly by considering only
a. fixed and mixed costs. b. relevant fixed costs. c. relevant variable costs. d. a relevant range of volume.