Henry wrote a letter to Warm and Soft Inc, informing them that the comforter he received was the incorrect size. The company replied, stating that it would replace the comforter with the right one in three days. In this scenario, the reply from Warm and Soft Inc is referred to as a(n):
A. collection letter.
B. sales letter.
C. adjustment letter.
D. claim letter.
C
In this scenario, the reply from Warm and Soft Inc. is referred to as an adjustment letter. An
adjustment to a claim is made when a customer receives a full or a partial credit, is allowed to
exchange the merchandise, or is granted a refund.
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Which of the following internal control activities most likely would prevent direct labor hours from being charged to manufacturing overhead?
A. Periodic independent counts of work-in-process for comparison to recorded amounts. B. Reconciliation of work-in-process inventory with periodic cost budgets. C. Comparison of daily journal entries with approved production orders. D. Use of time sheets to record actual labor worked on production orders.
Describe the four channels for communicating expectations to others.
What will be an ideal response?
The Apple logo is an example of which artifact of organizational culture?
A. Ceremonies B. Symbols C. Stories D. Slogans E. Heroes
The gross profit method:
a. assumes that the ratio of gross margin for a business remains relatively stable from year to year. b. is usually used when complete records are available. c. determines inventory at retail and converts it to cost. d. None of these is correct.