Elmhurst corporation is considering changes to its responsibility accounting system. which of the following statements is/are correct for a responsibility accounting system? i. in a cost center, managers are responsible for controlling costs but not revenue. ii. the idea behind responsibility accounting is that a manager should be held responsible for those items that the manager can control to a significant extent. iii. to be effective, a good responsibility accounting system must managers to plan and to control. iv. costs that are allocated to a responsibility center are normally controllable by the responsibility center manager.

How can surveys and questionnaires be used to gather data for informal reports? surveys and questionnaires should be used only to gather data for formal reports. surveys and questionnaires can be used to collect confidential information for informal performance reviews. surveys and questionnaires allow you to collect data efficiently and economically from groups of people?

Exercise 8-6 goods in transit [lo8-2] the kwok company's inventory balance on december 31, 2016, was $190,000 (based on a 12/31/16 physical count) before considering the following transactions: 1. goods shipped to kwok f.o.b. destination on december 20, 2016, were received on january 4, 2017. the invoice cost was $35,000. 2. goods shipped to kwok f.o.b. shipping point on december 28, 2016, were received on january 5, 2017. the invoice cost was $22,000. 3. goods shipped from kwok to a customer f.o.b. destination on december 27, 2016, were received by the customer on january 3, 2017. the sales price was $45,000 and the merchandise cost $27,000. 4. goods shipped from kwok to a customer f.o.b. destination on december 26, 2016, were received by the customer on december 30, 2016. the sales price was $25,000 and the merchandise cost $18,000. 5. goods shipped from kwok to a customer f.o.b. shipping point on december 28, 2016, were received by the customer on january 4, 2017. the sales price was $30,000 and the merchandise cost $17,000. required: determine the correct inventory amount to be reported in kwok's 2016 balance sheet.

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