A customer who fails to report a forged signature within thirty days from the date that the bank statement showing the item was made available for inspection loses the legal right to have the bank recredit his or her account
Indicate whether the statement is true or false
F
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A company purchased 130 units for $30 each on January 31. It purchased 150 units for $35 each on February 28. It sold 150 units for $80 each from March 1 through December 31. If the company uses the first-in, first-out inventory costing method, what is the amount of Cost of Goods Sold on the income statement for the year ending December 31? (Assume that the company uses a perpetual inventory system.)
A) $3,900 B) $5,250 C) $4,600 D) $9,150
Under which of the following conditions will the first-in, first-out method of process costing produce the same cost of goods manufactured amount as the average cost method?
a. When goods produced are homogeneous in nature b. When there is no beginning inventory c. When there is no ending inventory d. When beginning and ending inventories are each 50 percent complete
When leaving a job, it is customary to give 30 days notice. _________________________
Answer the following statement true (T) or false (F)
Title to existing, identified goods can pass whenever the parties agree it will pass
Indicate whether the statement is true or false