This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: On May 27, Ace Electronics ordered merchandise from Elmo Company. Elmo shipped the merchandise to ... (Read 88 times)

jayhills49

  • Hero Member
  • *****
  • Posts: 559
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


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

zenzy

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jul 5, 2018
Answer to Question 1

C

Answer to Question 2

C


jayhills49

  • Member
  • Posts: 559
Reply 2 on: Jul 5, 2018
Wow, this really help

komodo7

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

Cane toad merchandise Cane toad merchandise
Pharmaceutical Company Representatives Pharmaceutical Company Representatives
A company spends $117 500 today and has positive cash inflows of $34 000 for each of the next 6 ... A company spends $117 500 today and has positive cash inflows of $34 000 for each of the next 6 ...
A company that makes cell phones has the following cost structure. They have fixed costs of ... A company that makes cell phones has the following cost structure. They have fixed costs of ...
Your company advertises all prices on the menu board as a final price, including HST of 13%. A ... Your company advertises all prices on the menu board as a final price, including HST of 13%. A ...
Jia's Fashions recently paid a $2 annual dividend. The company is projecting that its ... Jia's Fashions recently paid a $2 annual dividend. The company is projecting that its ...
Video: Brain Lobes Animation

For a complete list of videos, visit our video library