Practice Problems Ch. 10 (ACCT-422)

Practice Problems Ch. 10 (ACCT-422) - Solutions to Chapter...

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Solutions to Chapter 10 Practice Problems 10-30 a. (3) b. (3) c. (4) d. (4) 10-31 a. (3) b. (2) c. (4) d. (2) 10-32 a. (3) b. (4) c. (4) d. (2) 10-34 1. a. Adequate documents and records and independent checks on performance. b. Transactions are stated at the correct amounts. c. Changes to the computer master file of prices are reviewed when the master file is updated. 2. a. Adequate documents and records. b. Recorded transactions exist. c. (1) Require that payments only be made on original invoices. 2) Require a receiving report be attached to the vendor's invoice before a payment is made. 3. a. Adequate documents and records, and independent checks on performance. b. Transactions are recorded on the correct dates. c. Carefully coordinate the physical count of inventory on the last day of the year with the recording of sales to make certain counted inventory has not been billed and billed inventory has not been counted. 4.
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This note was uploaded on 04/11/2010 for the course ACCT 422 taught by Professor Blake during the Spring '10 term at MD University College.

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Practice Problems Ch. 10 (ACCT-422) - Solutions to Chapter...

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