A furniture maker has delivered a dining set directly to the end consumer rather than to the furniture store. The furniture maker is practicing which of the following?
A) postponement
B) drop shipping
C) channel assembly
D) passing the buck
E) float reduction
B
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ABC is more costly to implement and maintain than more traditional overhead costing systems.
Answer the following statement true (T) or false (F)
Fraud, duress, and undue influence make a contract ____________________
Fill in the blank(s) with correct word
Excerpts from Sydner Corporation's most recent balance sheet appear below: Year 2Year 1Current assets: Cash$160? $170? Accounts receivable, net 230? 250? Inventory 280? 230? Prepaid expenses 20? 20? Total current assets$690? $670? Total current liabilities$400? $380? Sales on account in Year 2 amounted to $1640 and the cost of goods sold was $1050.The working capital at the end of Year 2 is:
A. $980 B. $690 C. $290 D. $1170
Answer the following statements true (T) or false (F)
1. After preparing a bank reconciliation, adjustments must be made for items reconciling the book balance. 2. Outstanding checks, deposits in transit, deductions for bank fees, additions for interest, and errors are all factors that can cause the bank statement balance for a checking account to be different from the company's checking account balance. 3. Outstanding checks, deposits in transit, and bank service charges are added to the beginning balance of the bank statement to determine the adjusted bank balance. 4. Proper internal control would require that a department manager inform the purchasing department of its needs for additional merchandise by preparing and signing a purchase requisition which lists the merchandise needed and requests that it be purchased. 5. An invoice is an itemized statement of goods prepared by the customer listing the customer's name, items sold, sales prices, and terms of sale.