Which of the following statements is True?
a. A manufacturing company has 3 types of inventory: raw material, work in progress, and finished goods.
b. The inventory for the material may include both direct and indirect material.
c. Choices a and b are both true.
d. Choices a and b are both false.
d
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When indirect materials are issued to production, the Manufacturing Overhead account is credited
Indicate whether the statement is true or false
Myles obtains a property insurance policy from Nova Insurance Company for Myles's restored 1957 Chevy. Nova can cancel the policy
a. if Myles increases the risk assumed by the Nova. b. if Myles files a claim under the policy. c. if Myles appears as a witness in a case brought against Nova. d. under no circumstances.
Childers Company, which uses a perpetual inventory system, has an established petty cash fund in the amount of $500. The fund was last reimbursed on November 30. At the end of December, the fund contained the following petty cash receipts: December 4Freight charge for merchandise purchased$56.00?December 7Delivery charge for shipping to customer$80.00?December 12Purchase of office supplies$45.00?December 18Donation to charitable organization$64.00?If, in addition to these receipts, the petty cash fund contains $246.00 of cash, the journal entry to reimburse the fund on December 31 will include:
A. A credit to Office Supplies of $80. B. A credit to Cash Over and Short of $9.00. C. A credit to Cash of $254.00. D. A debit to Petty Cash of $101. E. A debit to Transportation-In of $101.
As the relative expected return on dollar deposits increases, foreigners will want to hold more ________ deposits and less ________ deposits
A) foreign; foreign B) foreign; dollar C) dollar; foreign D) dollar; dollar