BD One Company Entered into the Following Transactions

question 74

Multiple Choice

BD One Company entered into the following transactions.Choose the one which represents an accounting error.

• A)A shareholder of BD One Company purchases a new car,but this was not recorded by the company.
• B)Revenue was recognized when a customer received services from BD One Company.
• C)Cash received from a customer in payment of his account was debited to Cash and credited to Accounts Receivable.
• D)BD One Company ordered inventory and the order was recorded by a debit to Inventory and a credit to Accounts Payable.

Recognize the significance of management by exception in performance management.

Understand the methods for setting standards in cost accounting.

Distinguish between attainable and perfection standards and their impact on operational efficiency.

Apply the principles of variance analysis to organizational performance evaluation.

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Definitions:

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