Explain the steps needed to process a credit memo in the sales return system
The objective is to reverse the effects of the original sales transaction. The billing department records an entry into the sales returns and allowance or sales journal and inventory control debits the inventory records to reflect the return of goods. The AR clerk credits the customer account in the AR subsidiary ledger.
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The Human Resources manager at the Apex Golf and Tennis Club has just calculated the employee absenteeism rate for 2012, and it is 25% higher than it was in 2010 and 2011. He should
A. wait until the end of 2013 and see what the rate is then. B. begin a major restructuring effort. C. reduce employees' work hours. D. address job design and ways to deal with work overload. E. institute strict disciplinary procedures for employees who are absent.
To finance the purchase of a house from Tuna, Uri signs an instrument promising to pay to "Verity Mortgage Service" $160,000 with interest in installments with the final payment due July 10, 2045. To be negotiable, this instrument must include the signature of A) a non-party witness
B) Tuna or Tuna's realtor. C) Uri. D) Verity's chief financial officer.
____ is a development method in which the manager is presented with a written description of an organizational problem to diagnose and solve.
Fill in the blank(s) with the appropriate word(s).
Deferred taxes occur when a company postpones taxes on profits pertaining to
A. tax years they are under an audit by the Internal Revenue Service. B. a particular period as they end up postponing part of their tax liability on this year's profits to future years. C. a loss they intend to carry back or carry forward on their income tax returns. D. funds they have not collected because they use the accrual method of accounting.