A petty cash fund was established with a $550 balance. It currently has cash of $105 and petty cash tickets as shown below:
Which of the following would be the journal entry to replenish the Petty Cash account?
A) debit various expenses $445; credit Cash $445
B) debit various expenses $445; credit Petty Cash $445
C) debit Cash $105; credit various expenses $105
D) credit Petty Cash $445; debit Cash $445
A) debit various expenses $445; credit Cash $445
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The Antarctica Company closes its books annually on December 31, while the city in which it is located has a fiscal year beginning on April 1 and ending on March 31. Taxes on property are assessed on April 1 of each year. Property taxes in the amount of $360,000 and $390,000 were assessed on April 1, 2015 and 2016, respectively. For the year ended December 31, 2016, the Antarctica Company would
report property tax expense of A) $360,000. B) $370,000. C) $382,500. D) $390,000.
If performance measures are perfect proxies for organizational goals,
a. sub-optimization will be enhanced. b. sub-unit managers will strive to achieve organizational goals. c. sub-units can all be decentralized. d. residual income will rise.
The material purchases budget tells a manager all of the following except the
a. quantity of material to be purchased each period. b. quantity of material to be consumed each period. c. cost of material to be purchased each period. d. cash payment for material each period.
Which of the following refers to the assurance of data privacy and accuracy?
A) integrity B) availability C) confidentiality D) security