Which of the Following Is an Accurate Statement Regarding Cash

question 2

Multiple Choice

Which of the following is an accurate statement regarding cash receipts over the counter?

• A) The point-of-sale terminal electronically transmits a record of the sale to the store's main computer.
• B) Employees should take the deposit to the bank.
• C) The cashier should reconcile the electronic record of the sales per the terminal to the record of cash received.
• D) Point-of-sale terminals cannot assist in inventory control.

---

Definitions:

Direct Materials Purchases Variance

The difference between the actual cost of direct materials purchased and the expected (budgeted) cost of these materials.

Standard Direct Labor-Hours

The estimated amount of labor time required to produce one unit of output, based on established standards.

Variable Overhead Rate Variance

The difference between the actual and the standard cost of variable overheads in a production process.

Direct Materials Purchases Variance

The difference between the actual cost of direct materials purchased and the expected (or standard) cost, used for budgeting and cost control purposes.