Which of the following is a measure for discouraging theft for a retail store that accepts cash receipts over the counter?
A) A receipt is issued for each transaction to ensure that each sale is recorded.
B) At the end of the day, the sales clerk proves the cash by comparing the cash in the drawer against the machine's record of cash sales.
C) The sales clerk uses the machine tape to record the journal entry for cash receipts and sales revenue.
D) The store clerk deposits the cash in the bank.
A) A receipt is issued for each transaction to ensure that each sale is recorded.
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The significance of the moral minimum approach lies in its recognition that compliance with the law is insufficient for being an ethically responsible business.
Answer the following statement true (T) or false (F)
Which of the following is NOT a problem that diversity causes for a team?
a. Inappropriate cognitive categorization of people b. Differential treatment of group members by the leader c. Increased stress within the team d. Social competition within the team
If Grayson Manufacturing incurred $17,400 for direct labor in the assembly department and $10,300 for direct labor in the painting department, the journal entry to record the labor used is: Work in Process Inventory, Assembly$17,400 Work in Process Inventory, Painting$10,300 Raw Materials Inventory $27,700
Answer the following statement true (T) or false (F)
Which of the following is true of trading investments?
A) They are held for more than two years. B) They are generally recorded as long-term investments. C) They must be adjusted and reported at fair value at the end of each accounting period. D) They are always reported on the balance sheet at their historical cost.