(i) Work out limit order book after each order coming in; And explain each order as to whether the order is taking the market or making the market and calculate the cost/price of filled order.  (ii) Compare the pre and post limited order book and provide your comments.

Q: List the steps to record sales under a perpetual inventory system as a buyer and a seller.

A: The accounting practice of perpetual inventory allows a company to keep continuous, real-time track…

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A: Purchases of material and inventory is very important for the business. Payment for purchases can be…

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A: Price taker is referred as an individual or the corporation, which used to accept the prevailed…

Q: A. What document is used to create the Purchase Order in the Expenditure Cycle and wheredoes it come…

A: Answer a: The purchase requisition document is used to create the Purchase Order. It comes from the…

Q: A. What document is used to create the Sales Order in the Revenue Cycle and where does itcome from?…

A: Answer a: Sales order is created by using a document formed by SAP.

Q: Most of the accounting cycles have journal entries that accompany activities of each cycle.Which of…

A: Recording transaction in journal is termed as journalizing the entries. Transaction are first…

Q: Which files do you usually find in a sales order module versus an account receivable (customer…

A: The sales order module contains an open sales order which is an internal document issued by seller…

Q: Most of the accounting cycles have journal entries that accompany the activities of each cycle.…

A: A process of identifying a transaction, analyzing it and then recording the same in the books is…

Q: In the preparation of the worksheet of a merchandising business, the ending balance of the…

A: Merchandise inventory is the current assets, goods purchased or manufactured with the purpose of…

Q: Classify the following items as either:TPS—transaction processing systemFRS—financial reporting…

A: Transaction Process System: This system helps an organization to process all the transactions as it…

Q: Briefly explain the following terms

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Q: Question 15 If you don't see the Copy to purchase order feature from within an estimate, where do…

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Q: In the Purchasing Process - Level 0 Diagram, a data flow called "inventory's purchase requisition"…

A: The purchasing process, also known as the procurement process, refers to the series of activities…

Q: The cost of an item if the full amount had been paid at the time of sale is called the O A. down…

A: Total Price  It is a full purchase price for purchasing the consumer item, excluding the sales tax…

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Q: The finished goods inventory account is used to record which of the following? Group of answer…

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Q: For each of the following processes, state whether OLTP or OLAP is appropriate and why.a. An order…

A: Meaning OLTP & OLAP OLAP means Online Analytical Processsing and OLTP means Online Transaction…

Q: Which of the following forms cannot be customized? Select one: A. Estimate B. Sales Receipt C.…

A: Under QBO there is a feature to customize your forms.

Q: Which one of the following statements best describes the purpose of a purchase order? A It is issued…

A: Purchase Order: A company before purchasing goods invite qoutation of goods from suppliers. When…

Q: Describe the purpose of a purchase order by selecting the correct statement(s) below. (Check all…

A: The correct statements are:A purchase order is a document the purchasing department uses to place an…

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A: SOLUTION. LIFO METHOD ASSUME THAT THE MOST RECENT PRODUCT ADDED THE COMPANY'S INVENTORY HAVE BEEN…

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A: The sales order, billing and AR department are responsible for placing the orders from the…

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A: The payments are done to the vendors in the order bills and invoices are received and they are paid…

Q: What is another name for the bill that the seller sends to the buyer when the buyer purchases…

A: Solution: Purchase order is prepared and sent by buyer to seller while placing an order. Receiving…

Q: A cost accounting system uses which of the following inventory systems? a.perpetual system…

A: Inventories are assets that are sold, purchased, and manufactured in an organization as a core…

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A: Under FIFO cost assumption, the inventory acquired first, will be sold first.

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A: Using LIFO method, the new units are sold first and old units are sold later. LIFO stands for Last…

Q: A voucher is usually supported by Oa. a purchase order Ob. a receiving report Oc. a supplier's…

A: A voucher is usually supported by a purchase order, receiving report, and supplier's invoice.

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A: The objective of the question is to identify the shared and unique elements in the sales and…

Q: Which statement about the Expenditure Cycle is correct? The blind copy of the purchase order goes…

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Q: For each of the following processes, state whether OLTP or OLAP is appropriate, and why. a. An…

A:

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A: Introduction: LIFO Method: LIFO stands for Last in First out. Which means last received inventory to…