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- (2) The use of air freight for deliveriesQ 6. Which of the following is not determined by the shipping terms? a. When legal title or ownership passes. b. Which party is responsible for paying shipping costs. c. Which carrier will be used for transporting goods. d. Which party is responsible for any damages during transit.Q7: (A) Explain the fundamental purpose of the sales and collection process. (B) Differentiate between a remittance advice and a customer invoice within the sales process of an organisation.
- QUESTION 10 Which statement is true? O a. A controlling area and a company code must have the same local currency O b. A company code can belong to more than one controlling area. O C. A chart of accounts belongs to a storage location O d. A plant must be assigned/allocated to a company code.Question 20 The acquisition and expenditure cycle involves a number of important functions including: purchasing, receiving, accounts payable and recording or maintaining the fixed asset ledgers. Having the purchasing function pay vendor invoices would increase efficiency and not cause a separation of duties problem. True FalseFor amazon: 1. How could the organization create more value for its stakeholders?2. Which of the four future freight flows should it prepare itself for? 3. What should the organization do to prepare for the future flow(s)?
- ACC340 Accounting Systems I Chapter 15: P 15-5, page 612: Based on the inventory process control goals discussed in this chapter, explain the impact of using a periodic inventory process instead of a perpetual process. Be sure to also discuss how you would design the process to attempt to meet the same control objectives using this periodic process.Which statement and where on the statement is freight-out recorded? Why is it recorded there?Examine Figure 6.18, which contains the REA model for Hera Industrial Supply (HIS). The model is partially completed; it includes all entities and relationships, but it does not include cardinalities or descriptions of the relationships (which would appear in diamonds on the connecting lines between entities). HIS sells replacement parts for packaging machinery to companies in several states. HIS accepts orders via telephone, fax, and mail. When an order arrives, one of the salespersons enters it as a sales order. The sales order includes the customers name and a list of the inventory items that the customer wants to purchase. This inventory list includes the quantity of each inventory item and the price at which HIS is currently selling the item. When the order is ready to ship, WIS completes an invoice and records the sale. Sometimes, inventory items that a customer has ordered are not in stock. In those cases, HIS will ship partial orders. Customers are expected to pay their invoices within 30 days. Most customers do pay on time; however, some customers make partial payments over two or more months. List each entity in the REA model, and identify it as a resource, event, or agent. Using Microsoft Visio, redraw the REA model to include the diamonds for each relationship and include an appropriate description in each diamond. FIGURE 6.18 Partially Completed REA Model of the Hera Industrial Supply Sales Business
- If the seller assumes the entire cost of transportation, without any reimbursement from the buyer, the freight terms are considered ______________. a. FOB shipping point b. FOB destination c. Freight in d. Freight out e. FOB freight9.Discuss (i). the notions and purposes of CVP Analysis, and(iii) the Components of CVP Analysis (Break-Even Analysis, Target Analysis, Margin of Safety Analysis, Sales-mix Analysis and others)10. Discuss what forms of relevant information are applicable for business decisions related to Make or Buy Decisions, Accept or Reject Special Orders; Continue or Discontinue Business, and Sell or Process Further, and others