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2 years ago

In a retail cash sales environment, which of the following controls is often absent?

Business

1 answer:

JulijaS [17]2 years ago

6 0

Answer:

The correct answer to the following question is option b) Separation of functions.

Explanation:

In a retail environment , the cash management process starts when a customer pays the cashier for the product or services he or she has purchased. The cashier then counts the cash in till drawer and then at end of the day cashier takes that cash to the third party who can be either manager or owner or a supervisor. Then cashier would receive a receipt against the cash for till drawer.

Now supervisor would collect cash from all the cashier and prepare the cash to be deposited in bank. So from this process it is quite clear that here there is separation of functions here and while all other options given in the question are present in the process.

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Which of the following accounts would not appear on a schedule of cost of goods manufactured?

kotykmax [81]

The following accounts would appear on a schedule of cost of goods manufactured- Depreciation of factory equipment

Explanation:

The cost of goods manufactured (COGM) schedule is used to calculate the cost of all the items produced during a given reporting period.

The cost of good manufactured schedule gives companies an idea about their production cost(i.e whether it is too high or low) in relation to the sales they are making

The formula to calculate the COGM is:

Add: Direct Materials Used

Add: Direct Labor Used

Add: Manufacturing Overhead

Add: Beginning Work in Process (WIP) Inventory

Deduct: Ending Work in Process (WIP) Inventory

= COGM

7 0

3 years ago

On September 3, 2021, the Robers Company exchanged equipment with Phifer Corporation. The facts of the exchange are as follows:

GREYUIT [131]

Based on the information given the appropriate journal entries to record the exchange for both Robers and Phifer are:

Robers entries

Debit Equipment (new) $77,000

Debit Accumulated Depreciation $111 000

Debit Cash $19,000

Credit Equipment $190,000

Credit Gain on Sale $17,000

($77,000+$111,000+$19,000-$190,000)

Phifer's entries

Debit Equipment(new) $96,000

Debit Accumulated depreciation $119,000

Debit Loss on Sale $14,000

($210,000+$19,000-$96,000-$119,000)

Credit Equipment $210,000

Credit Cash $19,000

Learn more about journal entries here:brainly.com/question/24696035

4 0

2 years ago

Which examples best demonstrate likely tasks for Manufacturing Production Process Development workers? Check all that apply.

Flura [38]

Answer:

4,5,6

Explanation:

7 0

2 years ago

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John developed a food additive that replaces processed sugars. He granted the right to use this additive to a major cereal manuf

LiRa [457]

Answer: Licensing

Explanation:

John's ingredient is his intellectual property. By giving the right regarding the usage of the ingredient to another business entity and by receiving a sales volume related royalty payment for each box sold, John is involved in a licensing agreement.

Two parties are involved in each licensing agreement: the licencor and the licencee. In this example, John is the licencor and the cereal manufacturer is the licencee. Both of the parties sign the licensing agreement, which is active over a specified amount of time.

Licensing is not to be confused with franchising. It refers to a specific business model when the franchisee operates under the brand (logo and trademark) of the franchiser, but essentially keeps its independence branch-wise. Best examples are McDonald's and KFC.

6 0

2 years ago

Human Relations skills involve

xz_007 [3.2K]

Answer:

Human relations skills include the ability to understand human behavior, to communicate effectively with others, and to motivate individuals to accomplish their objectives.

Explanation:

3 0

2 years ago

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