When should a manufacturing company recognize raw material purchase returns in its accounting records? a) When return shipment leaves company premises b) When vendor issues credit memo c) At the end of accounting period d) When materials were originally purchased

1. Please explain whether the item is an example of IPE from a transaction process, and 2. Please explain why or why not in some level of detail: Item IPE? Why or why not? A. A payroll exception report prepared by ADP B. A report containing new vendors approved by the purchasing department C. An unpaid vendor invoice D. A list of product liability claims from customers E. The allocation of overhead to various products in production F. Warranty conditions provided to customers on sales contracts G. The bank reconciliation prepared by the Company's bank

What document signals that a company should record thepurchase of goods on account?a. Purchase requisitionb. Purchase orderc. Receiving reportd. Supplier invoice

At what point does revenue recognition occur? A. When the purchase order is received B. When the seller receives the money for the job C. When the seller has met performance D. When the purchaser makes payment