(A) Assures that a company will never run out of inventory (B) Updates the inventory figures each time a transaction is made (C) Lasts forever... View Article
(A) As an asset (B) As a liability (C) As a revenue (D) An expense Answer (A): As an asset Explanation: An inventory or stock is an asset on... View Article
(A) IOUs (B) Cash at a bank in a country at war with the united states (C) Stamps (D) None of the above would be classified as cash Answer... View Article
(A) Performance of audits (B) Assignment of responsibility for each duty to a large number of employees (C) Use of reliable employees (D)... View Article
(A) A system restricted to the payment of liabilities (B) A system that is controlled by having a clearly defined maximum level (C) A system... View Article
(A) The right, granted by a governmental agency, to the exclusive use of a product or process (B) A grant to the owner for the exclusive right... View Article
(A) Specific unit (B) Weighted average (C) FIFO (D) LIFO Answer:(D) LIFO Explanation: The last in, first out (LIFO) is a technique used to... View Article
(A) The amount that a buyer would pay for the item under a fair barter system (B) The amount that an independent buyer would pay for the item... View Article
(A) Proper training that enables personnel to perform their jobs (B) Creation of a sense of employee loyalty to the organization (C) Providing... View Article
(A) Costs incurred getting an item to the merchandiser (B) Items that arrive damaged or otherwise unacceptable to the merchandiser (C) Costs of... View Article
The declining balance method or technique, otherwise called the reducing balance technique, is great for resources that rapidly lose their... View Article
The difference between the straight-line method of depreciation and the diminishing balance method of depreciation is as follows: BASIS... View Article
The straight-line method of depreciation (SLM) is used for fixed assets or resources whose utility is similarly spread across the long periods of... View Article
As indicated by the straight-line depreciation technique, the expense of the resource is discounted similarly during its valuable life.... View Article
Depreciation or deterioration cost is written down from the actual value of the asset, the worth of a fixed value matches and is suitably... View Article
