What purpose does the northwest-corner rule serve?
What will be an ideal response?
The northwest-corner is a procedure used with the transportation model that starts in the upper left-hand cell and systematically allocates units to shipping routes. Its purpose is to generate an initial feasible solution.
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The adjusting entry to apply factory overhead to the work in process ending inventory includes
a. debiting Finished Goods Inventory and crediting Factory Overhead. b. debiting Work in Process Inventory and crediting Factory Overhead. c. debiting Factory Overhead and crediting Work in Process Inventory. d. debiting Factory Overhead and crediting Finished Goods Inventory.
The return on assets ratio
a. considers the investment made by all creditors and stockholders. b. is a measure of the liquidity of a company. c. is based on average stockholders' equity as compared to net income for the period. d. reflects investments made only by the creditors of a company.
The process of allocating the cost of buildings, vehicles, and equipment to the accounting periods in which they are used is called:
A. prepaid expense. B. depreciation. C. accumulated allocation. D. deferred revenue.
To become ISO 9000 certified, organizations must:
A) document quality procedures. B) have an onsite assessment. C) have an ongoing series of audits of their products or service. D) all of the above E) none of the above