The Singh Computer Shop Begins Operations on June 1 and Uses

question 2

Multiple Choice

The Singh Computer Shop begins operations on June 1 and uses a periodic inventory system. During June, the company had the following purchases and sales for its Model 10 Fastback Computer System: On June 30 an inventory count showed there were 8 units on hand.
-Using the FIFO inventory cost formula, the amount allocated to cost of goods sold for June is

• A) $10,000.
• B) $10,600.
• C) $16,000.
• D) $20,800.

Distinguish between investment centers, profit centers, and cost centers.

Calculate and interpret residual income.

Understand the concept of transfer pricing and its approaches.

Understand the use of the balanced scorecard in measuring financial and nonfinancial performance.

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Definitions:

Projective Tests

Psychological assessments that use ambiguous or unstructured test materials to elicit responses that reflect the respondent's personality traits, fears, and desires.

High-interest Credit Cards

Credit cards that charge high rates of interest compared to others, often leading to higher costs for borrowers who carry a balance.

Self-serving Bias

A common tendency to attribute one's successes to personal traits and failures to external factors, protecting self-esteem.

Reciprocal Determinism

The theory proposing that an individual's behavior is both influenced by and influences their personal factors and the environment.