Which of the following methods is appropriate for a business whose inventory consists of a relatively small number of unique, high-cost items? Oa. FIFO Ob. LIFO Oc. average Od. specific identificationWhen using a perpetual inventory system, the journal entry to record the cost of goods sold is: Oa. No journal entry is made to record the cost of goods sold. Ob. debit Inventory; credit Cost of Goods Sold Oc. debit Cost of Goods Sold; credit Sales Od. debit Cost of Goods Sold; credit InventorySarbanes-Oxley applies to Oa. not-for-profit organizations Ob. publicly held companies Oc. privately held businesses Od. all of thesewhich one of the following reflects a IMeak internal control system? 0 a. a single employee is responsible for collecting and recording o fcash O b. all employees must take their vacations O c. a single employee is responsible for comparing a receiving report to an invoice 0 d. all employees are well supervised Accompanying the bank statement was a debit memo for bank service charges. What entry is required in the company's accounts? Oa. debit Cash; credit Other Income Ob. debit Cash; credit Accounts Payable Oc. debit Miscellaneous Expense; credit Cash Od. debit Accounts Payable; credit CashThe amount of deposits in transit is included on the bank reconciliation as a[n] O a. deduction From the balance per bank statement 0 b. deduction From the balance per the company's books 0 c. addition to the balance per compan}r books 0 d. addition to the balance per bank statement Accompanying the bank statement was a debit memo for an NSF check received from a customer. What entry is required in the company's accounts? Oa. debit Cash; credit Other Income Ob. debit Accounts Receivable; credit Cash Oc. debit Other Income; credit Cash Od. debit Cash; credit Accounts ReceivableA special form on which is recorded pertinent data about a liability and the particulars of its payment is called a(n) Oa. remittance advice Ob. debit memo Oc. invoice Od. voucher