Before Goods Are Shipped on Account, a Properly Authorised Person

question 71

Multiple Choice

Before goods are shipped on account, a properly authorised person must:

• A) verify that the unit price is accurate.
• B) prepare the sales invoice.
• C) approve credit.
• D) approve the journal entry.

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Definitions:

Target Firm

A company that is the subject of a takeover attempt or acquisition interest by another company.

Management Team

The group of individuals who oversee the operations of a business and make high-level strategic decisions.

Tender Offer

A proposal made publicly by an individual or company to purchase shares from shareholders of a public corporation at a specified price within a certain time frame.

Net Gain

The positive difference between the sale price of an asset after deducting all costs associated with the sale and the original purchase price, reflecting a financial benefit.