A major input to an MRP system is:
A) the master schedule.
B) the capacity plan.
C) shop-floor activity planning and control.
D) the production plan.
E) none of the above
A
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Caudill Sales Company made most of its sales on credit during its first year of operation, 2014. At the end of the year, accounts receivable amounted to $100,000. On December 31, 2014, management reviewed the collectible status of the accounts receivable. Approximately $6,000 of the $100,000 of accounts receivable were estimated to be uncollectible. As per the accounts receivable aging method the
adjusting entry that would be made on December 31 of that year is: A) Uncollectible Accounts Expense 6,000 Accounts Receivable 6,000 B) Allowance for Uncollectible Accounts 10,000 Uncollectible Accounts Expense 10,000 C) Uncollectible Accounts Expense 6,000 Allowance for Uncollectible Accounts 6,000 D) Allowance for Uncollectible Accounts 10,000 Accounts Receivable 10,000
What is the journal entry used to record direct materials requisitioned of $16,250?
a. debit Materials $16,250; credit Work in Process $16,250 b. debit Wages Payable $16,250; credit Work in Process $16,250 c. debit Work in Process $16,250; credit Wages Payable $16,250 d. debit Work in Process $16,250; credit Materials $16,250
The Council of the European Union has jurisdiction over franchise agreements operating in its member countries
Indicate whether the statement is true or false
The effect of the making of a partial payment to satisfy an admitted debt is an example of the rule that: A) past benefits cannot be consideration for a later promise
B) a conditional promise may be consideration. C) doing what one is already under a legal obligation to do is not consideration. D) consideration must be adequate to be binding.