Before sending the check for payment of goods, the controller should examine the payment pack. List the documents that are included in the payment pack and describe the information provided by each document.
What will be an ideal response?
Purchase Order - This document shows the quantity and types of goods needed and includes the person who authorized the purchase.
Invoice - This document shows the goods provided by the supplier, amount owed, due date, and payment terms.
Receiving Report - This document verifies the goods received by the company and shows the employee who received the goods.
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Which of the following is the correct formula for calculating residual income?
A) Weighted average cost of capital - Net operating profit after tax B) Operating income - Minimum acceptable operating income C) Historical cost of assets - Accumulated depreciation D) Operating income / Average assets
At minimum, a channel of distribution consists of a producer and a(n) ________
A) wholesaler B) agent C) broker D) intermediary E) customer
Admittedly, house organs are extremely expensive. Why do companies continue to produce them?
What will be an ideal response?
In a given year, the average annual salary of a NHL hockey player was $205,000 with a standard deviation of $24,500 . If a simple random sample of 50 players was taken, what is the probability that the sample mean will exceed $210,000?