Overhead during the year was underapplied. If the amount is insignificant, what is the entry to close the overhead account and transfer the underapplied overhead to Cost of Goods Sold?
a. Overhead XX
Cost of Goods Sold XX
b. Cost of Goods Sold XX
Overhead XX
c. Overhead XX
Finished Goods Inventory XX
d. Cost of Goods Sold XX
Finished Goods Inventory XX
B
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Due professional care requires:
A. the examination of all available corroborating evidence. B. the exercise of error-free judgment. C. a study and review of internal controls that includes tests of controls. D. auditors to maintain an attitude that includes a questioning mind and a critical assessment of audit evidence.
Answer the following statements true (T) or false (F)
1. When Angela, a new nurse was hired at Mercy Hospital, the HR manager gave her a handout containing a chart that showed a family-tree-like pattern of boxes and lines. This document, which shows the formal lines of authority and the organization's official positions and work specializations, at the hospital is called an organization chart. 2. The arrangement of having discrete parts of a task done by different people is known as division of labor. 3. Tom's Hardware has a simple organizational structure. There are no levels of middle management, because all employees report to the owner, Tom, or to his assistant managers. Tom's Hardware has a thin organizational structure. 4. Two advantages of decentralization are that (1) managers are encouraged to solve their own problems, and (2) decisions are made more quickly, increasing the organization's flexibility and efficiency.
The ________ environment includes the interactions between domestic and foreign environmental forces, or between sets of foreign environmental forces when an affiliate in one country does business with customers in another.
Fill in the blank(s) with the appropriate word(s).
At a canning factory, new employees are instructed to wear a certain type of uniform while working around the canning machines. The description of the uniform is very detailed and specific. Which of the following kinds of standing plans is described in this scenario?
A. ?Norms B. ?Purpose statements C. ?Policies D. ?Rules and regulations