When purchasing large amounts of light bulbs, which purchase method would an organization most likely use?
A. Description
B. Inspection
C. Negotiation
D. Sampling
E. Multiple sourcing
Answer: D
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Media richness theory suggests that deciding upon the best way to send a message is complicated by an increase in ______.
A. access to 24/7 news B. communication channels C. internet usage D. symbolic convergence
To successfully employ an ABC system, a company must first identify:
a. Non-volume related activities in the factory that create costs. b. Cost drivers. c. Cost pools. d. Overhead allocation rates.
Restoration, Inc., a leading manufacturer of antique car parts, divided its manufacturing process into two Departments - Production and Packing. The estimated overhead costs for the Production and Packing departments amounted to $14,000,000 and $20,000,000, respectively. The company produces two types of parts - Part 1 and Part 2. The total estimated labor hours for the year were 40,000, and estimated machine hours were 35,000. The Production department is mechanized, whereas the Packing department is labor oriented. Calculate departmental predetermined overhead allocation rates.
Copper, Inc purchased merchandise worth $1,800 on credit, terms n/30. What is the required journal entry to record the transaction under the periodic inventory system?
A) Accounts Receivable 1,800 Purchases 1,800 B) Purchases 1,800 Accounts Payable 1,800 C) Merchandise Inventory 1,800 Accounts Payable 1,800 D) Accounts Payable 1,800 Merchandise Inventory 1,800