A merchandising business
A) that uses a manual accounting system usually uses only two special journals
B) that uses a computerized accounting system usually uses only five special journals
C) is required to use a computerized accounting system because of the volume of journal entries
D) that uses a computerized accounting system usually uses no special journals
D
You might also like to view...
Peter and Paul are business associates. The police enter the business with a search warrant because Peter is under investigation for a crime. When the police ask Paul to answer some questions, he agrees, but one of the questions, if answered, might make him culpable too. Paul must answer the question because he is not under investigation and therefore does not currently have the right against self-incrimination.
Answer the following statement true (T) or false (F)
Underfoot Products uses standard costing. The following information about overhead was generated during May: Standard variable overhead rate $2 per machine hour Standard fixed overhead rate $1 per machine hour Actual variable overhead costs $390,000 Actual fixed overhead costs $175,000 Budgeted fixed overhead costs $190,000 Standard machine hours per unit produced 10 Good units produced 18,000
Actual machine hours 195000 Compute the variable overhead efficiency variance. a. $50000 (F) b. $50000 (U) c. $40000 (F) d. $30000 (U)
A common problem associated with transfer pricing occurs when
A) a division purchases inputs for processing from an outside source at a price higher than the internal transfer price. B) the gross margin pricing method is used to compute the price. C) a division sells its excess output to an external customer. D) managers do not agree with the transfer prices of the inputs provided to them or of the outputs of their own division.
"Just Do It" is a famous tagline used by the Nike Corporation. Which of the following types of intellectual property would this tagline come under?
A. trademark B. patent C. trade secret D. copyright