If the perpetual inventory system is used and a physical count disclosed a shortage, the cost of merchandise sold should be debited and the merchandise inventory account credited
Indicate whether the statement is true or false
True
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The following set of items describes activities completed by a company in purchasing and paying for merchandise. For each activity, identify whether or not the activity adheres to or violates sound internal control procedures. The receiving department compares the quantity received with the quantity printed on the receiving report when the purchase order was prepared
a. Adheres to sound internal control procedures b. Violates sound internal control procedures c. Neither strengthens nor violates internal control
The subject of a forwarded message is given the prefix
A) RE: B) FW: C) MS: D) TO:
_____ temporary team
(a) good understanding of what each team member does (b) includes from 4-8 blocs or levels (c) Designed and used principally for management and professional employees (d) teams of managers and professionals assigned to resolve complex problem (e) kinds and levels of team-related skills acquired by a team member (f) teams in an industrial setting that produce a specific product
According to the text, which of the following is NOT a component of the internal environment of an organization?
a. management b. employees c. organizational culture d. organizational strategy e. customers