Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 09, 2024

1. the purchases journal is typically used to record only purchases of inventory. T F 2. because special journals are designed to suit businesses, good

1. the purchases journal is typically used to record only purchases of inventory. T F

2. because special journals are designed to suit businesses, good systems design for a business could include collapsing the sales and cash disbursements journal into one journal. T F

3. the purchases journal is used to record purchases of merchandise on credit. T F

please include explanation

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Concept And Objectives Of Quality Auditing ISO 9001Total Quality Management

Authors: Mahmoud Fadhel Idan

1st Edition

6202795158, 978-6202795159

More Books

Students also viewed these Accounting questions

Question

★★★★★

Leslie Baker, an attorney, had the following transactions (among others) during 20X0, her initial year in law practice: a. On July 1, Baker leased office space for 1 year. The landlord (lessor)...

Answered: 1 week ago

Question

★★★★★

B: Use a loop with the turtle graphics library to draw the design shown below

Answered: 1 week ago

Question

★★★★★

8.76 Independent random samples of n = n = n observations are to be selected from each of two populations 1 and 2. If you wish to estimate the difference between the two population means correct to...

Answered: 1 week ago

Question

★★★★★

MFG Company experiences the following cost behavior patterns each week: Fixed costs: supervisor's salary $1,000; factory rent $2,500 Mixed costs: utilities $1,500 + $5.25 per unit Variable costs per...

Answered: 1 week ago

Question

★★★★★

erates in a state with no sales tax. The company uses the perpetual inventory system. dise on account to Benson Company; issued Sales Slip 1200 for $1,040, terms n/30. The 2. 1 sales, $2,070. The...

Answered: 1 week ago

Question

★★★★★

Info needed is in this question-https://www.chegg.com/homework-help/questions-and-answers/debit-credit-enter-account-title-cash-enter-debit-balance-10-482-enter-credit-balance-ente-q42758344 *(g)...

Answered: 1 week ago

Question

★★★★★

The chief audit executive (CAF) determined that the residual risk identified in an assurance engagement is acceptable. When should this be communicated to senior management? A. When the CAE reports...

Answered: 1 week ago

Question

★★★★★

Parts a, b, c and d of this question are independent of one another. a) firm A wants to acquire firm B to achieve economies of scale. Does this motive make economic sense? Answer in terms of YES or...

Answered: 1 week ago

Question

★★★★★

A software company wants to improve its customer experience scores by 3% over the next 30 days. A data professional works to achieve this objective by understanding current scores and how far away...

Answered: 1 week ago

Question

★★★★★

ABC Insurance Company has a branch office, which consists of a branch manager and 5 clerical assistants. The branch manager reports to a division manager. The branch office has its own bank account...

Answered: 1 week ago

Question

★★★★★

A large tank of fish from a hatchery is being delivered to a lake. The hatchery claims that the mean length of fish in the tank is 15 inches, and the standard deviation is6inches. A random sample...

Answered: 1 week ago

Question

★★★★★

A proposal was put forward in 2012 by the Coalition government that would allow employers in small and medium- sized businesses to offer shares in the company in exchange for giving up their rights...

Answered: 1 week ago

Question

★★★★★

In the Meteor case study, how reasonable do you think were the terms of the redundancy package? Look up the tribunal cases referring to relocation and equal opportunities. Do you think that the high...

Answered: 1 week ago

Question

★★★★★

Consider spotlight on the law 4.2 and decide: What was the basis upon which Wilson had been dismissed out of the four admissible reasons? Do you think he was successful in his claim? What is the...

Answered: 1 week ago

Previous Question Next Question