Standard costing can be used only with a process costing system
Indicate whether the statement is true or false
False
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Which one of the following below reflects a weak internal control system?
A) all employees are well supervised B) a single employee is responsible for comparing a receiving report to an invoice C) all employees must take their vacations D) a single employee is responsible for collecting and recording of cash
The major advantage of line charts is that they A) compare related items
B) present large amounts of data. C) show the proportion of parts to a whole. D) demonstrate trends.
The operating and financing activities of the statement of cash flows are presented differently between the indirect and direct methods
Indicate whether the statement is true or false
The entry to record the payment of a previously declared dividend of $0.25 per share on 18,500 shares of common stock includes a ________
A) debit to Cash Dividends for $4,625 B) debit to Cash $4,625 C) credit to Cash Dividends for $4,625 D) debit to Dividends Payable for $4,625