The Scheduling Sequencing Rule Which Always Results in the Lowest

question 55

Multiple Choice

The scheduling sequencing rule which always results in the lowest average flow (flow) time is the:

• A)critical ratio (CR).
• B)earliest due date (EDD).
• C)first come,first serve (FCFS).
• D)minimum slack time (MST).
• E)shortest processing time (SPT).

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Definitions:

Outstanding Checks

Checks that have been written and recorded in the payer's account but not yet cashed or processed by the recipient.

Adjusting Entries

Entries recorded in the journals at the close of an accounting period to distribute income and expenditures to the period they actually took place.

Bank Reconciliation

Bank reconciliation is the process of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank statement.

NSF Check

A check that is not honored by a bank due to insufficient funds in the account of the person who wrote it; also known as a bounced check.