Dakota, Inc. purchased raw materials worth $8,000 on account. The journal entry to record the purchase of raw materials on account is ________
A) debit Cash, $8,000; credit Raw Materials Inventory, $8,000
B) debit Accounts Payable, $8,000; credit Raw Materials Inventory, $8,000
C) debit Raw Materials Inventory, $8,000; credit Accounts Payable, $8,000
D) debit Raw Materials Inventory, $8,000; credit Cash, $8,000
C
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In the variable costing income statement, which line separates the variable and fixed costs?
a. selling expenses b. general and administrative expense c. product contribution margin d. total contribution margin
Account analysis:
A. begins with an estimate of a prospect's past sales. B. identifies accounts and their varying levels of sales potential. C. involves four general approaches. D. is another form of value analysis. E. requires management oversight.
Camilla's job is to find new customers for her company's telecommunication services. She encourages existing customers to add more services and finds customers who are completely new to the company. Camilla would best be classified as a(n)
A. team salesperson. B. order generator. C. missionary salesperson. D. technical salesperson. E. outside salesperson.
Explain the importance of timeliness of information in an organization
What will be an ideal response?