A journal entry includes a debit to Work in Process Inventory and a credit to Raw Material Inventory. The explanation for this would be that
a. Direct material was placed into production.
b. Direct labor was used for production.
c. Indirect material was placed into production.
d. Raw material was purchased on account.
a
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Markham Company has completed its sales budget for the first quarter of Year 2. Projected credit sales for the first four months of the year are shown below: January$30,000 February$36,000 March$45,000 April$48,000 The company's past records show collection of credit sales as follows: 40% in the month of sale and the balance in the following month. The total cash collection from receivables in March is expected to be:
A. $39,600. B. $18,000. C. $41,400. D. $45,000.
Which of the following observations concerning collusive frauds is true?
a. They are usually slower to develop than frauds committed by one individual. b. Research indicates that majority of the frauds involve collusion. c. Frauds involving collusion are usually the easiest to detect because of the involvement of multiple players. d. Recent trends in business have dramatically decreased the number of collusive frauds.
The supervisor should ask a complex and sensitive survey question when validating an interview with a respondent
Indicate whether the statement is true or false
The responsibility center in which the manager does not have responsibility and authority over costs is the:
A. investment center. B. cost center. C. profit center. D. revenue center.