The customers ledger and the creditors ledger refer to subsidiary ledgers
Indicate whether the statement is true or false
True
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Preston Company has three divisions. The company should consider a cost to be a direct cost of a division if:
A. It meets guidelines imposed by generally accepted accounting principles. B. It can be traced to a division in a cost-effective manner. C. It can be allocated to a division. D. It is a variable cost.
During the bank reconciliation process, an accountant identified an error. This error involved a company check written for $200 to pay a supplier for goods purchased on credit by the company. The check was erroneously recorded in the company's records for $2,000. Which of the following entries would correct this error in the company's records?
A) Cash 1,800Accounts Payable 1,800 B) Cash 1,800Accounts Receivable 1,800 C) Account Receivable 1,800Accounts Payable 1,800 D) None of these, as the error should be corrected by the supplier's personnel.
Grouping many items together in a printed piece or an online store is referred to as
A. category management. B. catalog marketing. C. scrambled merchandising. D. mass merchandising. E. fast fashion.
Fatima has a deep concern for the welfare of her subordinates, and she promotes interactive discussions with them. Fatima can be described as a manager who scores high on
A. managerial control. B. consideration. C. initiating structure. D. discipline. E. autocratic leadership.