A Fund for Petty Cash of $200 Has $17 Remaining

question 125

Multiple Choice

A fund for petty cash of $200 has $17 remaining in cash,$3 in miscellaneous cash receipts and additional $180 specific cash receipts.The debit to Cash short & over would be:

• A) $0.
• B) $17.
• C) $180.
• D) $183.

Identify pitfalls and strategies for protecting business ideas and intellectual property.

Understand the definitions and applications of intellectual property (IP) terms such as trademark, patent, copyright, and trade secret.

Identify the steps involved in protecting intellectual property in various business scenarios.

Distinguish between employees and independent contractors based on legal definitions and criteria.

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Definitions:

Procurement

The process of obtaining goods and services, including the negotiation of terms, selection of suppliers, and the formal agreement of contracts.

Direct Materials

Raw materials that are directly incorporated into and can be directly traced back to a finished product in the manufacturing process.

Economies of Scale

Cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.

Inbound Transportation Cost

Expenses incurred in bringing raw materials or products from suppliers to a company's premises.