Which of the following is the last step in the daily control over cash receipts by mail?
A) A mailroom employee sends all customer checks to the treasurer who has the cashier make the bank deposit.
B) The controller opens the mail and sends the remittance advices to the accounting department.
C) The controller compares the records of the day's bank deposit amount from the treasurer and the debit to cash from the accounting department.
D) The accounting department prepares journal entries to cash and the customers' accounts.
C
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Which of the following inventory costing methods is prohibited under IFRS?
a. FIFO b. Weighted-average c. LIFO d. Perpetual
The time between arrivals of customers at the drive-up window of a bank follows an exponential probability distribution with a mean of 10 minutes. a.What is the probability that the arrival time between customers will be 7 minutes or less?b.What is the probability that the arrival time between customers will be between 3 and 7 minutes?
What will be an ideal response?
When one company owns more than 50% of another company's voting stock and has control over the investee company, the investee is called the ________.
What will be an ideal response?
ABC Hospital completed its first transplant, and the procedure took 50 hours. The hospital has five more transplants scheduled. Based on other similar procedures carried out, the hospital estimates that it has an 85% learning rate. Estimate the time it will take to complete the third transplant.
a. 34.5 hours b. 36 hours c. 38.67 hours d. 40 hours