If an instrument is payable to alternative payees or if it has been negotiated to alternative indorsees, it may be indorsed and delivered by either of them.
Answer the following statement(s) true (T) or false (F)
Ans: True
Business
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When auditing financial instruments, a confirmation is sent to the broker-dealer
A) only if the client has poor internal controls. B) to confirm interest and dividends. C) to provide assurance on realizable value. D) to confirm year-end holdings.
Business
In a job order costing system, the purchase of materials on account should be recorded as follows:
A) Materials InventoryWork in Process Inventory B) Materials InventoryAccounts Payable C) Work in Process InventoryAccounts Payable D) Accounts PayableMaterials Inventory
Business