Which of the following is an example of how managers use production cost reports to control costs?
A) setting product prices high enough for the company to be profitable
B) providing cost of goods sold for the income statement
C) determining if newer, more efficient equipment should be acquired
D) promoting products that are most profitable
C) determining if newer, more efficient equipment should be acquired
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Which of the following documents would be sent to the treasurer?
a. Invoice b. Purchase order c. Check authorization d. Bank statement
Which statement best reflects the sufficiency of evidence?
a. You should prove clear correlations to your topic. b. You should provide multiple visual aids to persuade your audience. c. You should provide enough evidence that people can understand. d. You should give alternative viewpoints to strengthen your argument.
In which journal would the payment of salaries be posted?
A) Cash receipts journal B) Special journal C) Cash payments journal D) Expense journal
If the traditional payback period method is used to evaluate a capital budgeting project, the project is considered acceptable if _____.
A. the total cash inflows yield a rate of return more than the expected rate of return from the project B. the payback period is longer than the life of the project C. there are no cash outflows during the payback period D. discounted value of cash inflows is less than the initial investment E. the payback period is less than the maximum cost-recovery time established by the firm