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Author Question: On May 27, Ace Electronics ordered merchandise from Elmo Company. Elmo shipped the merchandise to ... (Read 126 times)

jayhills49

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on: Jul 5, 2018
On May 27, Ace Electronics ordered merchandise from Elmo Company. Elmo shipped the merchandise to Ace on May 31, FOB destination. The merchandise arrived at Ace's warehouse on June 2. Ace paid for the merchandise on July 1.
 
  When should Ace record the purchase?
  A) May 27
  B) May 31
  C) June 2
  D) July 1

Question 2

A control that involves reprocessing transactions that are rejected during initial processing is an example of:
 a. preventive controls
  b. detective controls
  c. corrective controls
  d. programmed controls


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zenzy

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Reply #1 on: Jul 5, 2018
Answer to Question 1

C

Answer to Question 2

C


jayhills49

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Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

TheDev123

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Reply 3 on: Yesterday
Excellent

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