Zhang Corporation Returned $6000 of Defective Goods to Meli Inc

question 98

Multiple Choice

Zhang Corporation returned $6000 of defective goods to Meli Inc.Meli has a strict policy of no cash refund.Meli should

• A)write off the account receivable.
• B)issue a credit memo to Zhang.
• C)wait until Zhang places its next order to record the return.
• D)not adjust their accounting records since $6000 is not material for Meli.

Evaluate the impacts of different variances on financial performance and operational efficiency.

Understand the importance of standard costing in budgeting and financial planning.

Recognize situations where direct labor variances are applicable or not.

Analyze the causes of material and labor variances to identify potential operational improvements.

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Definitions:

Reinforcement Signal

A feedback signal used in learning processes, indicating the value of an action or outcome to guide behavior adjustments.

Ratio Schedule

A pattern of delivering reinforcements only after a certain number of responses.

Number of Responses

In psychology, this refers to the total count of reactions or replies to a given stimulus or situation.

Conditioned Reinforcer

A stimulus that gains its reinforcing power through its association with a primary reinforcer and is used to modify behavior.