With a limited work force and a desire to maintain strong internal control, which combination of duties performed by a single individual presents the least risk exposure?
a. maintaining the inventory ledger and recording the inventory journal voucher in the general ledger
b. recording the inventory journal voucher in the general ledger and maintaining custody of inventory
c. maintaining the cash disbursements journal and recording direct labor costs applied to specific jobs
d. preparing the accounts payable journal voucher and recording it in the general ledger
C
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The data presented below is for Mellon Corporation for the year ended December 31, 2015: Sales (100% on credit) $1,500,000 Sales returns 60,000 Accounts Receivable (December 31, 2015) 250,000 Allowance for Doubtful Accounts (Before adjustment at December 31, 2015) 3,000 Estimated amount of uncollectible accounts based on an aging analysis 31,000 Refer to information for Mellon Corporation. If
Mellon uses 2% of net credit sales to estimate its bad debts, what will be the balance in the Allowance for Doubtful Accounts account after the adjustment for bad debts? a. $33,000 b. $31,800 c. $27,000 d. $25,800
The ________ is a national measure of satisfaction with quality that provides a resource for examining the differences in satisfaction among customers of different industries by their demographic and socioeconomic characteristics
A) Arbitron Rating Index B) American Customer Satisfaction Index C) Nielsen panel Index D) American Regulated Index E) J. D. Power Loyalty Index
Which of the following is true of the CISG's risk allocation between parties of a contract?
A. If a seller fails to take delivery, then the buyer has to assume the risk for any damage to the goods after that time. B. The CISG defines some trade terms, which can be used by the parties to allocate risk among themselves. C. It allows parties to use Incoterms for risk allocation. D. The CISG's risk allocation is affected by breach of contact.
Consider a lawn mower that fails six times in 240 hours of operation. The failure rate of the lawn mower is ______.
a. 0.025 b. 0.040 c. 0.020 d. 0.030