answer to 60 - produce products based on sales forecasts...

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51. Internal auditors may have educational backgrounds or experience in which of the following fields? (Points: 5) all of the above 52. Which of the following would be considered part of manufacturing overhead? (Points: 5) monthly salary expense for factory maintenance personnel 53. When an employee circumvents an internal control procedure, which of the following is likely to take place? (Points: 5) (s)he almost always rationalizes the action 54. Which costs are sometimes found on the income statement and sometimes found on the balance sheet? (Points: 5) neither period nor product costs 55. Which costs are always found on the income statement, but never on the balance sheet? (Points: 5) both period and product costs 56. In some cases, managers may invest in long-term projects even though they may reduce ROI in the short run. Reasons a manager might make such an investment include (Points: 5) all of the above 57. Companies using a just-in-time production system (Points: 5)
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Unformatted text preview: produce products based on sales forecasts 58. A company with department names like fabrication, painting, and finishing is likely to use what type of costing to reflect its production operation? (Points: 5) job order 59. An artist creates original works on commission. She is likely to use what type of costing? (Points: 5) job order 60. John Adams is a cash receipts clerk for Boro Company. He receives payments from customers and records the payments to the customers' accounts. John receives a payment from Bobbie Jones for merchandise purchased on account. But, instead of recording the payment to Jones' account and depositing the cash, he pockets the cash. Later, John receives a payment from Shorty Cobb. Instead of recording the payment to Cobb's account, he records it to Jones' account. This is an example of (Points: 5) lapping...
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answer to 60 - produce products based on sales forecasts...

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