A bank reconciliation is an example of which type of control?
a. An input control.
b. An output control.
c. A preventive control.
d. A detective control.
d
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In a production cost report using process costing, transferred-in costs are similar to:
a. Material added at the beginning of the process. b. Conversion costs added during the process. c. Costs transferred to the next process. d. Costs included in beginning inventory.
The cost management system can be used to compute which of the following?
a. cost of non-value-added activities. b. product/service life cycle costs. c. rework costs. d. all of the above can be computed by using the cost management system.
When an economy is characterized by high inflation, special pricing tactics are often necessary. One popular cost-oriented tactic is culling low-profit margin products from a product line
Explain why this tactic might backfire, and describe the other two cost-oriented tactics that can be used instead. What will be an ideal response?
Businesses collect a tremendous amount of ________ information as part of their routine operations.
A. aggregate B. operational C. transactional D. comparative