In a process costing system, the journal entry to record the transfer of goods from Department #2 to Finished Goods Inventory is a
a. debit Work in Process Inventory #2, credit Finished Goods Inventory.
b. debit Finished Goods Inventory, credit Work in Process Inventory #1.
c. debit Finished Goods Inventory, credit Work in Process Inventory #2.
d. debit Cost of Goods Sold, credit Work in Process Inventory #2.
C
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Identify whether the following tests are substantive analytical procedures, tests of details of transactions, or tests of details of account balances:1) Test a sample of purchase requisitions for proper authorization.2) Test transactions around year-end to determine if they are recorded in the proper period.3) Review results of confirmation of selected accounts payable.4) Compare payables turnover to previous years' data.5) Obtain selected vendors' statements and reconcile to vendor accounts.6) Compare purchase returns and allowances as a percentage of revenue or cost of sales to industry data.
What will be an ideal response?
______ isomorphism refers to the tendency of organizations to copy each other.
A. Mimetic B. Coercive C. Mocking D. Institutional
Which of the following is a function of the state supreme courts?
A) conducting trials related to misdemeanor criminal law B) hearing appeals from intermediate appellate state courts and certain trial courts C) conducting trials related to felonies and civil disputes D) reviewing the judgments and records of the lower courts and ratifying them
According to the Economic Espionage Act, ________
A) persons who have reverse engineered a trade secret can use that trade secret, and the related trademark B) the rights to a trade secret will have to be renewed after a specified period of time C) trade secrets can be shared for a limited amount of time D) it is a federal crime to steal another's trade secret