Which of the following documents would not originate with the purchasing company?
a. Purchase order
b. Check
c. Receiving report
d. Invoice
D
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When an additional partner is admitted to a partnership by contribution of assets to the partnership
a. the total assets of the partnership do not change b. no liabilities can be contributed at the same time c. the amount of the cash contribution is the same as the amount of the debit to the new partner's capital account d. the total of the owner's equity accounts increases
The removal of program errors is called debugging
Indicate whether the statement is true or false
What is the test data technique?
A. "It uses a set of input data to validate system integrity" and "It requires auditors to prepare both valid and invalid data to examine critical logics and controls of the system" are correct. B. It is an automated technique that enables test data to be continually evaluated during the normal operation of a system. C. It requires auditors to prepare both valid and invalid data to examine critical logics and controls of the system. D. It uses a set of input data to validate system integrity. E. None of the answers is correct.
Inspection costs at one of Ratulowski Corporation's factories are listed below: Units Produced Inspection CostsApril777 $10,176May807 $10,404June798 $10,355July835 $10,665August822 $10,542September795 $10,313October805 $10,409November853 $10,795December796 $10,310 Management believes that inspection cost is a mixed cost that depends on units produced. Using the high-low method, the estimate of the variable component of inspection cost per unit produced is closest to:
A. $0.12 B. $8.14 C. $12.89 D. $7.05