Answer: 1 E, 2 C, 3 A, 4 F, 5 D, 6 B
Explanation:
Purchase requisition - A document used by department managers to inform the purchasing department to place an order with a vendor.
Purchase order - A document used to place an order with a vendor that authorizes the vendor to ship ordered merchandise at the stated price and terms.
Invoice - An itemized statement of goods prepared by the vendor listing the customer's name, items sold, sales prices, and terms of sale.
Receiving report - A document used to notify the appropriate persons that ordered goods have arrived, including a description of the quantities and condition of the goods.
Invoice approval - A checklist of steps necessary for the approval of an invoice for recording and payment; also known as a check authorization.
Voucher - An internal file used to store documents and information to control cash disbursements and to ensure that a transaction is properly authorized and recorded.
It is an internship because they aren’t paid and they foreshadow someone with the job that they want so A
Answer:
The inventory would be valued at $75 each
Explanation:
From a market approach to valuation,we need to first of all compare the replacement cost and net realizable in order to pick the lower of both values,hence the replacement cost of $75 is lower than net realizable value of $82.50.
As a result, we can then compare the lower of replacement cost and initial cost,such that inventory can then be valued at the lower of both.
From the foregoing analysis,the replacement of $75 each per item is lower than the initial cost $76.50,invariably our inventory is valued at $75 each.
Answer:
The seller may reject the offer and choose to provide a counteroffer.
Explanation:
In a free-market environment, a seller has the option to accept or decline an offer for what he is selling, in this case, a house. Furthermore, he can propose a counteroffer to see if the buyer is able and willing to pay more for that house. Taking this simple rules into account, the seller may reject Kelly’s offer if he wants and can choose to make a counteroffer.
Answer:
a. $58,400
Explanation:
A discounted note, will make the person receive a lesser amount than the amount due at maturity. This way the person who grants the note is receiving interest for borrowing.
<em><u>Calculations</u></em>
principal x discount rate x time = discount
<em><u>Where</u></em> rate and time should be expressed in the same metric IE if the rate is annual express time in portion of years if it is monthly, in months.
60,000 x 0.08 x 120/360 = 1,600
Now, we subtract this amount form the nominal:
nominal - discount = net
60,000 - 1,600 = <u>58,400</u>
