Point-of-sale systems permit customers to charge items to a charge account at a bank
a. True
b. False
Indicate whether the statement is true or false
False
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The ____________________ column in the combination journal is used to credit accounts that are used infrequently
Fill in the blank(s) with correct word
A creditor beneficiary:
A. is the promisee who owes a legal duty to a third party. B. acquires no rights under a contract and therefore cannot sue for nonperformance. C. is the promisor in a performance that satisfies a legal duty. D. has rights against both the promisee and the promisor.
Which statement is LEAST accurate?
a. Implementing an ERP system has as much to do with changing the way an organization does business than it does with technology. b. The big-bang approach to ERP implementation is generally riskier than the phased in approach. c. To take full advantage of the ERP process, reengineering will need to occur. d. A common reason for ERP failure is that the ERP does not support one or more important business processes of the organization
Highlight Manufacturing Company uses a perpetual inventory system for its raw materials. The inventory records reflect a raw materials balance of $478,500 at December 31 . A physical inventory taken on that date revealed raw materials of $475,750 . How will the $2,750 difference affect raw materials inventory and cost of goods sold, assuming it is attributed to normal shrinkage? Raw Materials
Cost of Goods Sold a. Increase Decrease b. Decrease No effect c. Decrease Increase d. No effect Increase