An important mechanism for lean systems is a Kanban system. Which one of the following statements correctly describes the behavior of a two-card Kanban system?
A) A withdrawal Kanban is issued to authorize production in the fabrication process.
B) A production-ordering Kanban authorizes the assembly process to remove the materials from the storage location.
C) The fabrication process produces certain units defined by the lot size and pushes them down to the assembly process.
D) Containers must never be removed from the storage location without an authorizing withdrawal Kanban.
D
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K. Canopy, the proprietor of Canopy Services, withdrew $5600 from the business during the current year. The entry to close the withdrawals account at the end of the year is:
A. Debit Income Summary $5600; credit K. Canopy, Capital $5600 B. Debit K. Canopy, Capital $5600; credit K. Canopy, Withdrawals $5600 C. Debit K. Canopy, Withdrawals $5600; credit K. Canopy, Capital $5600 D. Debit K. Canopy, Capital $5600, credit Salary Expense $5600 E. Debit K Canopy, Withdrawals $5600; credit Cash, $5600
Bank customers try to reduce uncertainty by drawing inferences from the ________, such as the design of the building's exterior and interior, the layout of the desks, and the length of waiting lines
A) people B) symbols C) equipment D) place E) communication material
Which of the following is not a standard procedure that the auditor normally should follow in the observation of inventory at year-end?
a. Observe the client taking inventory. b. Make selected test counts and trace into client's inventory compilation. c. Look for slow-moving, obsolete or damaged inventory. d. Review disclosure of inventory valuation.
Akira purchased a certain number of securities and incurred losses due to a decline in the price of securities in the market. She held her accountant, Jason, liable for her entire loss. Given this information, which of the following statements is true?
A. Akira can hold Jason liable for her losses because he did not prove that he made a reasonable investigation and reasonably believed that the certified financial statements were accurate. B. Jason cannot be held liable because the losses were totally unrelated to the accountant's negligence. C. Akira can hold Jason liable for her losses because an accountant is liable to any purchaser of securities issued pursuant to a defective registration statement. D. Jason can be held liable because he did not demonstrate that the purchaser was aware of the omissions in the registration statement before buying the securities.