The net method of recording purchases refers to recording:
A. Inventory at its selling price.
B. Specified amounts and timing of payments that a buyer agrees to in return for being granted credit.
C. Purchases at the invoice price less any cash discounts.
D. Inventory at the lower of cost or market.
E. Purchases at the full invoice price, without deducting any cash discounts.
Answer: C
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Business process integration refers to which of the following?
a. Selling key processes to competitors to apply pressure to innovate b. The coordination of process design efforts within a company c. The sharing and coordination of key processes between companies in a supply chain d. Quality control initiatives that span multiple firms
A company has just received a special, one-time order for 1,000 units. Producing the order will have no effect on the production and sales of other units. The buyer's name will be stamped on each unit, at a cost of $1.50 per unit. Normal cost data, excluding stamping, follows: Direct materials…………………………… $ 10 per unit Direct labor……………………………….. 16 per unitVariable overhead………………………… 4 per unitAllocated fixed overhead…………………. 12 per unitAllocated fixed selling expense…………… 8 per unit Prepare an analysis that indicates the selling price per unit this company will require to earn $3,000 on the order.
What will be an ideal response?
A Type I error is committed when
A. a true alternative hypothesis is not accepted. B. a true null hypothesis is rejected. C. the critical value is greater than the value of the test statistic. D. the validity of a claim was rejected.
Answer the following statements true (T) or false (F)
1. Social auditing is a systematic assessment of the effects an enterprise has on society that are not covered in the traditional financial reports. 2. The social audit process is useful for evaluating past performance, but does not help with the assessment of future performance. 3. Program management is a sophisticated social auditing approach useful to respond to sustainability performance. 4. Triple-E criteria and social objective reporting are quite often presented in internally prepared social reports. 5. Cost or outlay is an accounting approach to tabulate the social costs and benefits with the objective of the best social return for the social investment made.