Inputting a Range of Numbers Comprising a Batch and Then

question 6

Multiple Choice

Inputting a range of numbers comprising a batch and then inputting each serially numbered document is characteristic of the control plan called:

• A) cumulative sequence check
• B) batch sequence check
• C) suspense file of missing numbers
• D) computer agreement of batch totals

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Definitions:

Net Realisable Value

The estimated selling price of goods, minus the costs of their sale or disposal.

Joint Costs

Costs incurred up to the split-off point in the process of producing joint products, which are not identifiable to individual products.

Contribution Margin

The amount remaining from sales revenue after variable expenses have been deducted, contributing towards covering fixed costs and profit.

Net Loss

The result when a company's total expenses exceed its total revenues over a specific period, indicating a negative profit.