Problem of F accounting Problem of F/accountingTransfer pricing primarily concerns:a) External salesb) Credit salesc) Cash salesd) Intercompany transactions

Step 1:Tranfer pricing is a concept applies where a division of a company transfer its goods ,…

Answered: Problem of F/accounting Transfer…

Accounting Information Systems

10th Edition

ISBN:9781337619202

Author:Hall, James A.

Publisher:Hall, James A.

Chapter10: The Rea Approach To Database Modeling

Section: Chapter Questions

Problem 3MCQ

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Which of the following events would be LEAST likely to be modeled in an REA diagram?a. customer inquiriesb. sales to a customerc. accounts payabled. cashe. all of these events would be modeled
Which of the following is an agent in a purchases and payments structure model? Question 6Answer a. Cash disbursement b. Inventory c. Employee labour d. Supplier e. Receipt of goods
Which of the following is an example of a contra revenue account? A. sales B. merchandise inventory C. sales discounts D. accounts payable
Revenue is generally recognised at the point of sale. Which principal is applied a. Consistency b. Matching c. Revenue recognition / Realisation d. Cost principle
Which of the following is NOT a financial transaction? a. purchase of products b. cash receipts c. update valid vendor file d. sale of inventory
Which of the following is an example of a contra revenue account?A. salesB. merchandise inventoryC. sales discountsD. accounts payable
The Vendor Ledgers report displays the :Select one A. Accounts receivable control account B. Accounts Payable subsidiary ledger C. Accounts receivable subsidiary ledger D. Accounts Payable control account
Which of the following accounts does not belong in the purchases and disbursement cycle? Group of answer choices a.Prepayments b.Accounts payable c.Sales returns and allowances d.Fixed assets
Before revenue can be recognized, the revenue recognition principle requires the _____. A. Product to be shipped B. Cash to be transferred C. Service to be booked D. Performance obligation be fulfill
Which of the following accounts would normally have adebit balance?a. Inventoryb. Sales Returns and Allowancesc. Sales Discountsd. All of the above

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Problem of F/accounting Transfer pricing primarily concerns: a) External sales b) Credit sales c) Cash sales d) Intercompany transactions