Which of the following best describes the occurrence assertion for inventory?
A. Purchase requisitions initiated by authorized personnel.
B. Inventory properly accumulated from journals and ledgers.
C. All inventory is recorded.
D. Recorded inventory transactions actually happened.
Answer: D
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Work closely with ____________ when you need a special illustration
a. your readers b. other writers c. graphics specialists d. your supervisor
Singer and McMann are partners in a business. Singer's original capital was $40,000 and McMann's was $60,000. They agree to salaries of $12,000 and $18,000 for Singer and McMann respectively and 10% interest on original capital. If they agree to share remaining profits and losses on a 3:2 ratio, what will Singer's share of the income be if the income for the year was $15,000?
A) $9,000 B) $2,400 C) $1,000 D) $5,600
The quick ratio differs from the current ratio in that it:
A) represents the amount of cash on hand instead of the total current assets. B) excludes inventories and accounts receivable from the numerator of the fraction because of obsolescence and possible collection problems. C) is a stricter measure of a company's ability to pay its current obligations. D) signals the need to liquidate short-term investments when it drops below 2.0.
The ________ layer of the international standards for networks ensures reliable packet delivery using protocols such as TCP
A) application B) presentation C) session D) transport