Which of the following agencies is responsible for tax collection for the liquor industry?
A. the Food and Drug Administration
B. the Bureau of Alcohol, Tobacco, Firearms and Explosives
C. the National Association of Attorneys General
D. the Federal Trade Commission
E. the Federal Commission for Substance Abuse Control
Answer: B
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If a company uses the direct write-off method of accounting for bad debts,
a. It is applying the matching principle. b. It will record bad debt expense only when an account is determined to be uncollectible. c. It will reduce the accounts receivable account at the end of the accounting period for estimated uncollectible accounts. d. It will report accounts receivable in the balance sheet at their net realizable value.
Which of the following would likely be a primary key in a purchases table?
A. Purchase_Order_Number. B. Purchase_Order_Date. C. Supplier_Number. D. Product_Description.
What is the term for when a hacker calls a targeted user posing as technical support and asks the victim to divulge the account information so that immediate steps can be taken to prevent data loss from the account?
a. social engineering b. spoofing c. data theft d. customer impersonation
Products that are in the process of being manufactured but are not yet complete are called:
A. Finished goods inventory. B. Cost of goods sold. C. Raw materials inventory. D. Conversion costs. E. Work in process inventory.