Which of the following shows the correct order of the storage procedures?
a. Inspecting, indexing, cross referencing, coding, sorting and storing
b. Indexing, coding, inspecting, sorting, cross referencing and storing
c. Indexing, sorting, inspecting, cross referencing, coding and storing
d. Inspecting, indexing, coding, cross referencing, sorting and storing
Answer: d. Inspecting, indexing, coding, cross referencing, sorting and storing
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Which of the following statements is inconsistent with return on quality (ROQ) approach?
A) It is not possible to spend too much on quality. B) Quality is an investment. C) Quality improvement efforts must be financially accountable. D) Not all quality expenditures are equally valid.
Which of the following accounts on the manufacturing company work sheet is an asset account?
a. Finished Goods Inventory; b. Factory Overhead; c. Cost of Goods Sold; d. Retained Earnings; e. Capital Stock
Activity models are analogous to which of the following?
A. A car's steering system. B. The instructions in a recipe. C. A blueprint. D. The prototype for a new car model.
Assuming that net cost of purchases was $39,000 during the year and that ending merchandise inventory was $1,000 less than the beginning merchandise inventory of $12,500, how much was cost of goods sold?
A) $50,500 B) $52,500 C) $40,000 D) $38,000