In a job order costing system, the purchase of materials on account should be recorded as follows:
a. Materials Inventory XX
Work in Process Inventory XX
b. Materials Inventory XX
Accounts Payable XX
c. Work in Process Inventory XX
Accounts Payable XX
d. Accounts Payable XX
Materials Inventory XX
B
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Technicorp Electronics, a chain of stores selling electronics in the north-east region of the United States, is interested in determining whether it is paying its sales representatives an appropriate salary. It has decided to conduct a survey across all
the electronics stores in the north-east region of the United States to determine how well they are paying their employees. Limit and define the scope of the issues by answering the five Ws and writing a statement of purpose.
Identify actions you should take when preparing for a meeting.
What will be an ideal response?
Risks that remain after the implementation of new or enhanced controls are called
A) implementation risks. B) planning risks. C) residual risks. D) design risks.
Garry, a financial manager at AtoZ technologies, wants to know when his firm will need to arrange for short-term financing and when the firm is likely to have surplus cash available to pay off loans or to invest in short-term liquid assets. These concerns suggest that Garry would want to develop a _____.
A. cash budget B. pro forma income statement C. sales forecast D. projected balance sheet