What typically ends the acquisitions and payment cycle?
A) issuance of a purchase requisition or request for purchase of goods/services
B) issuance of a payment on accounts payable
C) approval of a new vendor
D) purchase requisition
B
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Tom Magic Company manufactures various kinds of toys for different age groups. The company's flagship product is Rx. The company currently requires 8.50 labor hours to manufacture per unit of Rx. The company believes that because of numerous small improvements in the process, it will require 0.10 labor-hours less and hence will only 8.40 labor-hours in the next quarter. It will require 8.35 and 8.25 labor-hours in third and fourth quarter. The company has adopted ________.
A) activity based budgeting B) kaizen budgeting C) zero-based budgeting D) cost-based budgeting
A company that owns 40% of the common stock of another business recognizes revenue from the investment when:
A) the investor sells the shares in the investee company. B) the investee issues a cash dividend. C) the investee recognizes net income. D) the investee issues a stock dividend.