Paying a Supplier in Toronto with a Cheque Drawn on a Bank

question 48

Multiple Choice

Paying a supplier in Toronto with a cheque drawn on a bank in New Brunswick is an example of:

• A)Cheque kiting
• B)Remote wire transfer
• C)Concentration banking
• D)Remote disbursement

Understand the treatment and implications of material price variances.

Understand the applications of standard cost systems in production and cost control.

Identify the difference between theoretical standards and practical standards and their effect on employee motivation and performance evaluation.

Understand the concept and application of standard costs in cost management and product costing.