Sophia Pathways Accounting Final Milestone with Answers
Which of the following internal control systems does TAP Technology, Inc. use when it updates its employee handbook to reflect new company policies?
2
Given the information provided above, what is the gross margin percentage?
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Sophia Pathways Accounting Final Milestone with Answers
Which of the following internal control systems does TAP Technology, Inc. use when it updates its employee handbook to reflect new company policies?
Control environment
Control activity
Monitoring process
Information and communication system
CONCEPT
Internal Controls and Reconciliations
2
Given the information provided above, what is the gross margin percentage?
79%
71%
73%
83%
CONCEPT Merchandising Financial Statement Analysis
3
When preparing a trial balance worksheet, what step would Tom complete next if he has already prepared a trial balance, adjusted entries and prepared an adjusted trial balance?
Prepare an income statement
Prepare a balance sheet
Close temporary accounts
Make closing entries
CONCEPT
End of Period Activities
4
Which business below would likely use Specific ID?
A jewelry store
An ice cream shop
An Italian foods market
An office supply store
CONCEPT
Inventory Cost Flow Assumptions
5
The purpose of the general journal is to show accounting events in their __________ sequence.
ending
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