gooda available for sale. -the consistency principle states that the busineses should use the same accounting methods from period to period. -under the FIFO‚ the ending inventory is based on the cost of the most recent purchases. -the value of purchases remains the same irrespective of the inventory valuation method used. -using FIFO‚ the COGS is based on the oldest purchases. -the accounting conservatism principle requires that financial statements should report LEAST favorable figures. -do
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Accrual Method Checkpoint October 2‚ 2011 HSM/260 In a nonprofit organization it is important to make sure we are utilizing the best accounting system for our organization. Organizations that are non-profit are expected to provide financial statements that are based upon the accrual method of accounting. The accrual method of accounting differs from cash basis accounting. In the accrual method‚ income is recognized when services are rendered (Kokemuller‚ 2013)
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inggLecturer’s Guide Accounting for Non-accounting Students Sixth edition J R Dyson ISBN 0 273 68301 2 © Pearson Education Limited 2004 Lecturers adopting the main text are permitted to download the manual as required. Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies around the world Visit us on the World Wide Web at: www.pearsoned.co.uk First published in Great Britain under the Pitman Publishing imprint in 1997 Second edition published
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Cost Accounting -- MIDTERM 1 1) Pointed Pencil company incurs the following costs in its manufacture of pencils. Classify each one of them according to one of the value chain functions: Functions: A) Research and Development B) Design of products‚ services‚ and processes. C) Production D) Marketing E) Distribution F) Customer Service G) Strategy and Administration ____ 1) Cost of wood used in manufacture of pencils. ____ 2) Cost of wood used in packing cartons to ship pencils. ____
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Costs assigned to the building of a house should appear on the income statement when Answer a. the purchase order to manufacture the house is received. b. the house is sold. c. cash is collected for the sale of the house. d. the house is completed. The basic document for keeping track of costs in a job order costing system is a Answer a. labor time card. b. job order cost card. c. process cost report. d. materials requisition form. The following information is available at the
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BM6026 - Managerial Accounting & Finance Mini Assignment - Sem 1 2014/2015 Name : Suriati Binti Yusse Matric no : MB1412199T Class : Tuesday - 7.00PM - 10.00PM product selling price Variable Cost : Material : Extract of Tongkat Ali Other Ingredients Packing Material Overhead Cost : Drying cost of liquid Other Overhead Cost Labour Cost : Processing Packaging Total Variable Cost Unit Contribution Margin Expected volume sales % of total sales Weighted Contribution Q1 : capsule
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Checkpoint: Ecology and Population Growth University of Phoenix SCI 230 Introduction to Life Science September 30‚ 2010 Ecology and Population Growth The current estimate of the worldwide human population at this moment is approximately 6‚872‚164‚233. Every minute‚ the world ’s human population increases by 176 people. At the beginning of this century‚ earth ’s human population already surpassed 6 billion; at the end of the century‚ it could reach 12 billion (Aliette‚ 2001). The population
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Liliia Karakai HSC 149 91 Allison Tsatsa Due 02/12/2015 Checkpoint questions Chapter 2 1. Define atom Atom is the smallest stable units of matter 2. Atoms of the same element that have different numbers of neutrons are called _______. isotopes 3. How is that possible for two samples of hydrogen to contain the same number of atoms‚ yet have different weights? Exactly two atoms of hydrogen combine with one atom of oxygen. But individual atoms
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Interfaces and Communication Messages CheckPoint Table Top-level Object | Communicates With | Incoming Messages | Outgoing Messages | Graphical Interface/Central Computer | Communicates with the door‚ microwave generator‚ and table spinner | Incoming messages are from the user‚ i.e. power‚ timing‚ etc.‚ also from the door which tells the GUI if the wave generator is safe to go on | Outgoing messages tell the generator to begin making the waves‚ the table spinner to spin‚ and displays things
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CheckPoint: TXJ Companies TJX was still using the old Wired Equivalent Privacy (WEP) encryption system‚ which was not hard for the hackers to figure out. One weakness was poorly secured computer kiosks located in many of TJX’s retail stores‚ which let people apply for jobs electronically. These same kiosks also provided access to the company’s internal corporate network. TJX could have switched to the more secure Wi-Fi Protected Access (WPA) standard with more complex encryption. TJX had also
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