Explain why supervision is so important in the receiving department
Receiving department employees have custody of the asset and record keeping responsibilities. Without proper supervision, employees may fail to count and inspect incoming shipments. Without proper supervision, shipments may disappear from the receiving dock before being transferred to the warehouse.
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Gentech Corp prepared a bank reconciliation as of June 30, 2014 . The following items were identified: Gentech's bank balance $14,300 Deposits in transit 1,000 Outstanding checks 1,300 Bank service charges 50 Customer's NSF check returned by the bank 150 Gentech's adjusted cash balance at June 30, 2014 is
a. $13,800 b. $14,100 c. $14,000 d. $14,300
Which of the following tables would likely be the result of a many-to-many relationship in a purchases and payments class diagram?
A. ProductCategory. B. EmployeeSupplier. C. PurchaseOrderNumber. D. PurchaseItems.
If the assets of a company increase by $55,000 during the year and its liabilities increase by $25,000 during the same year, then the change in equity of the company during the year must have been:
A. A decrease of $30,000. B. An increase of $80,000. C. An increase of $25,000. D. A decrease of $80,000. E. An increase of $30,000.
Any contract entered into by a person who has been adjudged insane is void
Indicate whether the statement is true or false