Worthington Farm raises chickens. For years, it has used wooden coops to haul its poultry to market
The owner of the farm needs to buy some replacement coops and is considering buying plastic coops that are slightly more expensive than wooden ones but much easier to clean after use. This purchase of coops is an example of a ________.
A) straight rebuy
B) customer-reference purchase
C) modified rebuy
D) reciprocal purchase
E) reverse marketing purchase
C
You might also like to view...
Which situation indicates an internal control risk in the General Ledger/Financial Reporting Systems (GL/FRS)?
a. the employee who maintains the cash journal computes depreciation expense b. the cash receipts journal voucher is approved by the Treasurer c. the cash receipts journal vouchers are prenumbered and stored in a locked safe d. the employee who maintains the cash receipts journal records transactions in the accounts receivable subsidiary ledger
Audit procedures Businesses often have litigation against them that the auditor has to identify and adequately disclose. List the financial assertions that apply to Contingencies. For each assertion indicate two or three audit procedures that would address that assertion. Organize you answer as follows: Financial statement assertion Audit procedure(s)