The internal control significance of the excess materials requisition is that it
a. indicates the amount of material released to work centers
b. identifies materials used in production that exceed the standard amount allowed
c. indicates the standard quantities required for production
d. documents the return to raw materials inventory of unused production materials
B
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A purchase is recognized in the accounting records when
a. payment is made for the item purchased. b. the purchase requisition is sent to the purchasing department. c. title transfers from the seller to the buyer. d. the buyer receives the seller's bill.
What is the customary way for the writer to sign a memorandum?
a. A handwritten signature below the message b. Handwritten initials to the right of the sender's name in the heading c. Typed name at the end of the document d. No signing necessary
When using an activity-based costing system in service companies, the allocation of indirect costs to the cost object is the last step of the process
Indicate whether the statement is true or false
In choosing sides concerning CEO duality, two schools of thought exist. Which of the following would not be a consideration for the Unity of Command school of thought?
A. One person holding both roles will be able to act more efficiently and effectively. B. CEO duality provides smoother strategic decision making. C. CEO duality slows down decision making. D. CEO duality creates unit across the board of directors and managers of a company.