The quantity of items sold times the price expected to be paid for each product is the calculation used for the:
A. overhead budget.
B. cost of goods sold budget.
C. purchases budget.
D. sales budget.
Answer: B
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Which control is most likely to address the goal of input completeness?
a. agreement of run-to-run totals b. digital signature c. independent validation of vendor invoice d. tickler file of open purchase orders and receiving reports
Budgets are long-term financial plans that generally cover more than a one-year period.
Answer the following statement true (T) or false (F)
The U.S. corporation Fun Toys, Inc sets up a firm in China. The parent company remains in the United States and retains complete ownership of the China branch as well as complete authority and control over all phases of the operation. This is
a. a franchise. b. a wholly owned subsidiary. c. a joint venture. d. direct exporting.
Which of the following is the normal form that removes all transient dependencies?
A) First Normal Form B) Second Normal Form C) Third Normal Form D) Boyce Codd Normal Form