Which of the following is not related to the segregation of duties for cash received in person?
A. Members of the accounting department count the cash collected and deposit it in the bank.
B. A supervisor is responsible for collecting the cash at the end of each cashier's shift and depositing it in the bank.
C. Members of the accounting department are responsible for ensuring that the receipts from cash sales are properly recorded in the accounting system.
D. Cashiers are responsible for the collection of cash and issuing a receipt at the point of sale.
Answer: A
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For work done during August, Footprints Company incurred direct materials costs of $104,000 and conversion costs of $260,000. The company employs a just-in-time operating philosophy and backflush costing. At the end of August, it was determined that the Work in Process Inventory account had been assigned $1,080 of costs, and the ending balance of the Finished Goods Inventory account was $1,220
There were no beginning inventory balances. Using the information provided for Footprints Company, what is the cost of completed units for August? A) $104,000 B) $260,000 C) $361,700 D) $362,920
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Indicate whether the statement is true or false.
A contract must be written in plain English if it is
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