Figure 6-8 Thunder Roads Enterprises Makes the Following Information Available

question 11

Multiple Choice

Figure 6-8
Thunder Roads Enterprises makes the following information available:
Units in process at the beginning of the month 2,000
Units in process at the end of the month 4,000
Units started during the month 30,000
Materials are added at the beginning of the process.
-Refer to Figure 6-8. Beginning and ending units were 60 percent converted. How many equivalent units for materials would there be using the FIFO method?

• A) 36,000 units
• B) 34,000 units
• C) 30,000 units
• D) 29,200 units

Identify how banks and companies manage and report cash and cash equivalents.

Differentiate between various types of adjustments in a bank reconciliation.

Understand the impact of Sarbanes-Oxley on the financial reporting and internal controls of companies.

Recognize the principles and objectives of internal control systems.

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Definitions:

Incentives

External or internal rewards designed to encourage specific actions or behaviors.

Referent Power

A form of influence based on the leader's personal characteristics, where followers identify with and want to emulate them.

Reward Power

The influence and control one has over others based on the ability to grant rewards or benefits.

Organizational Power

The ability of individuals or groups in an organization to influence decisions, control resources, and direct the actions of others.