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Will rate on multiple accounts if all 3 are answered ...

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Accounting

Will rate on multiple accounts if all 3 are answered
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Question 27) A company Just starting in business purchased three merchandise inventory items at the following prices. March 2. $150; March 7. $160; and March 15, $180. If the company sold two units for $250 each on March 10 and March 20, and used the FIFO cost formula in a perpetual inventory system, the gross profit for March would be March 15, $180. If the company sold two units for $250 each on March 10 and March 20, and used the FIFO cost formula in a perpetual inventory system, the gross profit for March would be a. $200. Ob. $190. c. $160. d. $170. e. $180 Question 34) When two or more people get together for the purpose of circumventing prescribed controls, it is called Ob. collusion a. fraud prevention. d. assignment of responsibilities. c. a division of duties. e. assignment of work. Question 33) Having one person responsible for the related activities of ordering merchandise, receiving goods, and paying for them a. increases the potential for errors and fraud. b. decreases the potential for errors and fraud. c. is an example of a control activity. O d. reduces cost and maximizes benefit. e. none of the options. V

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