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siniylev [52]
3 years ago
11

Control of inventory should begin as soon as the inventory is ordered. Which of the following internal control steps is not done

to meet this goal?
a. check the invoice to the receiving report
b. check the invoice to the purchase order
c. check the invoice with the person who specifically purchased the item
d. check the invoice extensions and loads
Business
1 answer:
UkoKoshka [18]3 years ago
7 0

Answer:

C. check the invoice with the person who specifically purchased the item.

Explanation:

Inventory control is explained to be the steps or patterns used in ensuring availability and delivery of products, overseeing its restock and making sure a good record of sales is been kept. In as much as the procedures purpose is to maximize profits without maintaining less customer relation or satisfaction with minimal investment from the inventory. It is processes ranges from checking invoice of order been received to checking of invoice of purchase order, also checking the invoice extensions before the loading and dispatches.

Also preparation of budget inventory is paramount in the business smooth running.

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Mandy Ewing has been working as a veterinarian's assistant for almost a year. Her friend recently told that her employee was in
Crank

Answer:

The correct answer is letter "B": Fair Labor Standards Act.

Explanation:

The Fair Labor Standards Act or FLSA is the U.S. federal law that sets regulations on employees' payments. The FLSA aims to provide fair wages to all workers by <em>establishing minimum wages</em>, compensations for overtime work, and it also builds barriers for child labor.

6 0
3 years ago
Kohl Co, provides warranties for many of its products. The January 1, 2019, balance of the Estimated Warranty Liability account
Brums [2.3K]

Answer and Explanation:

The computation is shown below;

a. For Warranty Expense

= Sales × Estimated Warranty Percentage%  

= $4,144,400 × 0.87%%

= $36,056.28

b)

The amount that should be reported is

Opening Balance of Estimated Warranty Liability Jan. 1, 2019 $42,635

Less: Actual warranty costs in 2019 ($26,750)

Add: Warranty expense accrued in 2019 $35,056

Closing  Balance of Estimated Warranty Liability Dec. 31, 2019 $50,941

8 0
3 years ago
Keira is in the market for a type of goods with unique characteristics that appeals to a limited number of consumers and require
Savatey [412]

The correct answer would be option B, Specialty Goods.

Keira is in the market for a type of goods with unique characteristics that appeals to a limited number of consumers and requires significant effort and money to purchase. Keira is most likely in the market for Specialty Goods.

Explanation:

There are products in the market that have certain characteristics that are appealing to a limited number of people. Such products require not only effort to purchase, but also a significant amount of money is needed.

Specialty products are usually high in price because of their unique characteristics, and that is why they are not easily available in the market as they are needed by a limited number of people.

Specialty products may include the following:

  • Luxury Cars
  • Luxury Clothing
  • High Fashion Clothing
  • Exotic Perfumes
  • Professional Photographic Equipment, etc.

Learn more about Specialty Products at:

brainly.com/question/14227087

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3 0
4 years ago
Discuss similarities and differences between the discounted dividend and corporate valuation models
kotykmax [81]
Dividend discount model (DDM) is used in valuing stocks of a company with basing on the value of the future net present dividends. It rests on the assumption that the stock's worth is equivalent to future dividends including discounted values of the present. Corporation valuation models on the other hand, is for loan qualifications, setting prices upon selling one's company.
6 0
3 years ago
A customer buys a Brokered CD for $100,000. Upon receipt of his next account statement, the customer sees that the market value
Mnenie [13.5K]

Answer: A. interest rates have risen

Explanation:

Since the customer buys a Brokered CD for $100,000 and upon eceipt of his next account statement, he sees that there has been a reduction in the market value of the CD to $99,800.

This would occur because there has been an increase in the interest rates. On the other hand, assuming there was a reduction in the interest rate, this will lead to an increase in the market value.

5 0
3 years ago
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