1. Classify each of the following as a revenue process, expenditure process, conversion process, or administrative process:...
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Question:
1. Classify each of the following as a revenue process, expenditure process, conversion process, or administrative process:
a. Preparing financial statements.
b. Purchasing electronic components to manufacture DVD players.
c. Receiving cash payments from customers.
d. Selling common stock to raise capital.
d. Moving parts from WIP (Work- in- Process) to Finished Goods
2. What are the five interrelated components of internal control?
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