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are these right QUESTION 12 Consider the following 4 items of paperwork supporting a purchase of inventory, specifically a: (i) receiving report (ii) purchase order
are these right
QUESTION 12 Consider the following 4 items of paperwork supporting a purchase of inventory, specifically a: (i) receiving report (ii) purchase order (iii) purchase requisitions (iv) check request. Of the 4 items listed, 2 of the documents could originate in the centralized purchasing department. True False QUESTION 2 Consider the 3 cost flow assumptions covered in class. Under LIFO, the cost for the oldest units are assigned to ending inventory. O True False QUESTION 4 Under U.S. GAAP, the payment of interest by a borrower would be classified as an operating activity on the borrower's cash flow statement and the cash collected would be reported as an operating activity on the lender's cash flow statement. True False QUESTION 6 Sold goods should remain as inventory on the seller's balance sheet until the date that the goods are delivered to the buyer. True False QUESTION 9 A company had $600,000 in sales, net income of $129,000, sales discounts of $12,000, sales returns and allowances of $9,000, and operating expense of $130,000. The company would report net sales of $449,000. O True O FalseStep by Step Solution
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