On July 4, a Hardware Manufacturing Firm Purchased Inventory on Account

question 37

Multiple Choice

On July 4, a hardware manufacturing firm purchased inventory on account for $1,300. The company plans to pay $700 in the next week and the remaining in the week after. Which of the following is the correct entry to record this transaction in a purchases journal? Assume a perpetual inventory system is used.

• A)$650 will be recorded in the Accounts Payable CR and Merchandise Inventory CR column.
• B)$2,000 will be recorded in the Accounts Payable DR and Merchandise Inventory DR column.
• C)$1,300 will be recorded in the Merchandise Inventory CR and Accounts Payable DR column.
• D)$1,300 will be recorded in the Accounts Payable CR and Merchandise Inventory DR column.

Differentiate between reliability and validity in the context of measuring attributes in employee selection.

Understand the purpose and application of different types of tests (aptitude, achievement) in the selection process.

Recognize the importance and methods of ensuring reliable measurement in employee selection.

Know the role of interviews in the selection process and their accuracy.

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Definitions:

Marketing Channel

A set of practices or activities necessary to transfer the ownership of goods, and to move goods, from the point of production to the point of consumption.

Cooperative

An organization owned and operated for the benefit of those using its services, where members work together for a common goal, sharing in decisions and profits.

Credible Commitments

Promises or assurances that are viewed as reliable because they are backed by actions demonstrating the intent and ability to fulfill them.

Strategic Relationship

A purposeful partnership or alliance between organizations aimed at achieving mutually beneficial goals.