Select from the option list provided the characteristic of a computer-based purchasing cycle that is being described. Each choice may be used once, more than once, or not at all. Statement

Answer

1. Accepts the shipment and enters the count and other relevant information into the receiving program.
2. Ensures the propriety of supplier transactional data prior to accepting the input.
3. Receives a requisition request once inventory levels fall below the reorder point.
4. Tests the characters in certain fields to verify that they are of an appropriate type.
5. Enters invoice information into the invoice program to test the information against that in the open purchase order file.
6. Safeguards the goods once processed by the receiving agent.
7. Approves the appropriate vendor.
8. Receives invoice from vendor and enters invoice information into the invoice program.

Fill in the blank:

Receiving agent, Accounts Payable, Payroll, Purchasing Agent, Validity test, Inventory warehouse, credit manager, Field checks, Account Receivable

The sec has historically raised questions regarding the independence of firms that derive a significant portion of their total revenues from one audit client or group of clients because the sec staff believes this situation causes cpa firms to

The production manager of rordan corporation has submitted the following quarterly production forecast for the upcoming fiscal year: 1st quarter 2nd quarter 3rd quarter 4th quarter units to be produced 10,800 8,500 7,100 11,200 each unit requires 0.25 direct labor-hours, and direct laborers are paid $20.00 per hour. required: 1. prepare the company’s direct labor budget for the upcoming fiscal year. assume that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced. 2. prepare the company’s direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is not adjusted each quarter. instead, assume that the company’s direct labor workforce consists of permanent employees who are guaranteed to be paid for at least 2,500 hours of work each quarter. if the number of required direct labor-hours is less than this number, the workers are paid for 2,500 hours anyway. any hours worked in excess of 2,500 hours in a quarter are paid at the rate of 1.5 times the normal hourly rate for direct labor.

Use the following account numbers and corresponding account titles to answer the following question. account no. account title (1) cash (2) merchandise inventory (3) cost of goods sold (4) transportation-out (5) dividends (6) common stock (7) selling expense (8) loss on the sale of land (9) sales which accounts would appear on the income statement?