What amount should be reported as expenditures for the current fiscal year when accounting for inventories of supplies under the purchase method and under the consumption method? Purchase MethodConsumption MethodA)amount usedamount purchasedB)amount usedamount usedC)amount purchasedamount purchasedD)amount purchasedamount used
A. Option A
B. Option B
C. Option C
D. Option D
Answer: D
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Many banks and phone companies now charge fees for once-free services to ensure minimum customer revenue levels. This helps the banks to ________
A) reduce the rate of customer defection B) make low-profit customers more profitable C) enhance the growth potential for each customer through cross-selling D) increase the longevity of the customer relationship E) focus disproportionate effort on high-value customers
In a good internal control system, which of the following sets of documents is required for proper approval of a payment to a supplier?
A) a journal entry, a supplier invoice, and a description of the goods being purchased B) a receiving report, an invoice, and a purchase order C) a purchase order, a journal entry, and a price catalog D) a supplier invoice, a bill of lading, and the supplier's financial statements
Marlow Company purchased a point of sale system on January 1 for $3,400. This system has a useful life of 10 years and a salvage value of $400. What would be the depreciation expense for the first year of its useful life using the double-declining-balance method?
A. $2,320. B. $300. C. $2,720. D. $600. E. $680.
The most important determinant of perceptions of service quality among U.S. customers is reliability.
Answer the following statement true (T) or false (F)