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Please do in 1h | Accounting homework help

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Question 1 (4 points)

Question 1 Saved

All of the following are factors influencing the development of accounting except:

Question 1 options:

A) 

C Standard Setting Process

B) 

Political and legal systems

C) 

Geographic location

D) 

Social and cultural values

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Question 2 (4 points)

Question 2 Saved

Disclosed information about a segment includes all of the following traits except for:

Question 2 options:

A) 

Disclosure of the segment assets

B) 

The measure of profit or loss follows a management approach focusing on internal decision making rather than any strict definition of profit used by the enterprise

C) 

Information presented for reportable segments must be reconciled to the respective consolidated amounts for the enterprise as a whole

D) 

Information must be presented in the dominant foreign currency if the majority of the segment’s assets are located outside the U.S.

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Question 3 (4 points)

Question 3 Saved

A current rate of exchange between two currencies is known as the:

Question 3 options:

A) 

Spot Rate

B) 

Floating Rate

C) 

Forward Rate

D) 

Average Rate

Save

Question 4 (4 points)

Question 4 Unsaved

Accounting standards relevant to private not-for-profit entities include all of the following except:

Question 4 options:

A) 

FASB 101

B) 

FASB 93

C) 

FASB 116

D) 

FASB 117

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Question 5 (4 points)

Question 5 Unsaved

A governmental fund balance that represents potential uses of resources planned for suture period is referred to as:

Question 5 options:

A) 

Encumbered

B) 

Reserved

C) 

Unreserved Undesignated

D) 

Unreserved Designated

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Question 6 (4 points)

Question 6 Saved

A foreign currency option represents a(n) _____ to either ____ or _____ some quantity of a particular foreign currency.

Question 6 options:

A) 

Obligation, hold, retain

B) 

Obligation, buy, sell

C) 

Right, sell, buy

D) 

Right, hold, retain

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Question 7 (4 points)

Question 7 Saved

The standards issued by the International Accounting Standards Board are known as:

Question 7 options:

A) 

Global Accounting Standards

B) 

General Accepted Accounting Principles

C) 

International Financial Reporting Standards

D) 

IASBs

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Question 8 (4 points)

Question 8 Saved

Convergence initiatives of the FASB includes all of the following except:

Question 8 options:

A) 

Rewriting all of GAAP to align with IFRS

B) 

IASB member in residence at the FASB

C) 

FASB monitoring IASB projects

D) 

Joint projects with the IASB

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Question 9 (4 points)

Question 9 Saved

The solution available through the bankruptcy code when a troubled corporation is liquidated is known as a ___________ liquidation.

Question 9 options:

A) 

Chapter 11

B) 

Chapter 7

C) 

Chapter 22

D) 

Chapter 13

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Question 10 (4 points)

Question 10 Saved

All of the following are purposes of government financial reporting except:

Question 10 options:

A) 

Evaluate efficiency and effectiveness

B) 

Compare actual results with the budget

C) 

Determine the overall profitability of the government entity

D) 

Determine compliance with laws and regulations

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Question 11 (4 points)

Question 11 Unsaved

The types of journal entries encountered in government accounting include all of the following except:

Question 11 options:

A) 

Closing entries

B) 

Operating entries

C) 

Accrual entries

D) 

Budgetary entries

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Question 12 (4 points)

Question 12 Unsaved

Agency funds are used for all of the following except:

Question 12 options:

A) 

Payroll deductions

B) 

Grants, entitlements, shared revenue

C) 

Tax collections for itself

D) 

Pass-through grants

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Question 13 (4 points)

Question 13 Unsaved

A future rate of exchange between two currencies is known as the:

Question 13 options:

A) 

Forward Rate

B) 

Spot Rate

C) 

Floating Rate

D) 

Average Rate

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Question 14 (4 points)

Question 14 Unsaved

The solution available through the bankruptcy code when a corporation remains in business through a restructuring of its debt and/or equity is known as a ________ reorganization:

Question 14 options:

A) 

Chapter 7

B) 

Chapter 22

C) 

Chapter 11

D) 

Chapter 13

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Question 15 (4 points)

Question 15 Saved

A type of governmental fund that accounts for resources for which the governmental units acts of trustee or agent is a:

Question 15 options:

A) 

Permanent fund

B) 

Proprietary fund

C) 

Fiduciary fund

D) 

Special revenue fund

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Question 16 (4 points)

Question 16 Unsaved

Company ABC, a domestic entity, sold goods to a British company on 5/10 with the transaction denominated in Pounds. The sales price of the goods was £200,000, and the cost of the goods was $80,000. The receivable is payable in full on 6/10, and Company ABC prepares their financials monthly. Relevant exchanges rates are 5/10 £1 = $1.25, 5/31 £1 = $1.30, and 6/10 £1 = $1.35. Based on this information, what was the amount booked to cost of goods sold by Company D on 5/10?

Question 16 options:

A) 

$80,000

B) 

$100,000

C) 

$200,000

D) 

£100,000

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Question 17 (4 points)

Question 17 Unsaved

Company ABC, a domestic entity, sold goods to a British company on 5/10 with the transaction denominated in Pounds. The sales price of the goods was £200,000, and the cost of the goods was $80,000. The receivable is payable in full on 6/10, and Company D prepares their financials monthly. Relevant exchanges rates are 5/10 £1 = $1.30, 5/31 £1 = $1.25, and 6/10 £1 = $1.35. Based on this information, how much would accounts receivable need to be revalued by on 5/31?

Question 17 options:

A) 

$10,000 decrease

B) 

$0

C) 

$10,000 increase

D) 

$4,000 decrease

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Question 18 (4 points)

Question 18 Unsaved

Company F is a foreign subsidiary of a domestic company and Company F’s functional currency is the Euro. On Company F’s financials at the end of the year 2017, they reported €50,000 in inventory. If the spot rate on 1/1/17 was €1 = $1.15, the spot rate on 12/31/17 was €1 $1.06, and the weighted average rate for the full year 2017 was €1 = $1.10, how much is the translated balance of inventory in U.S. $ at year-end?

Question 18 options:

A) 

$50,000

B) 

$53,000

C) 

$57,500

D) 

$55,000

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Question 19 (4 points)

Question 19 Unsaved

Company F is a foreign subsidiary of a domestic company and Company F’s functional currency is the Euro. On Company F’s financials at the end of the year 2017, they reported €150,000 in cost of goods sold. If the spot rate on 1/1/17 was €1 = $1.12, the spot rate on 12/31/17 was €1 $1.18, and the weighted average rate for the full year 2017 was €1 = $1.02, how much is the translated balance of cost of goods sold in U.S. $ at year-end?

Question 19 options:

A) 

$153,000

B) 

$150,000

C) 

$168,000

D) 

$177,000

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Question 20 (4 points)

Question 20 Unsaved

Company F is a foreign subsidiary of a domestic company and Company F’s functional currency is the Euro. The total U.S. $ Translated balances of total assets per the trial balance at year-end but prior to closing entries is $700,000, liabilities is $200,000, equity is $400,000, and net income adds up to $150,000. The amount to be entered into Accumulated Translation Adjustment will be:

Question 20 options:

A) 

$50,000 debit

B) 

$100,000 credit

C) 

$100,000 debit

D) 

$50,000 credit

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Question 21 (4 points)

Question 21 Unsaved

Lydia, James, and Lola form a partnership where each partner will have an equal share to start. Lydia contributes $60,000 in cash, James contributes $60,000 in equipment, and Lola contributes $20,000 in cash and bring to the table expertise that the partners agree is worth $40,000, and choose to account for the value of this expertise using the goodwill method. Immediately after formation, Lola’s capital account would reflect a balance of:

Question 21 options:

A) 

$60,000 credit

B) 

$20,000 credit

C) 

$45,000 credit

D) 

$20,000 debit

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Question 22 (4 points)

Question 22 Unsaved

Lydia, James, and Lola’s partnership calls for the following allocation of income: James and Lola are to receive lump sum salary payments of $25,000 each, Lydia and Lola are to receive interest of 5% of their ending capital balances, if there’s a profit James is to receive a bonus equal to 10% of the profit, and any remaining income is to be split between Lydia, James, and Lola 40%, 20%, and 40% respectively. Lydia, James, and Lola’s ending capital balances were $100,000, $50,000, and $150,000 respectively. If there was a partnership net profit of $500,000, how much was allocated to James in total?

Question 22 options:

A) 

$157,000

B) 

$152,500

C) 

$160,000

D) 

$175,000

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Question 23 (4 points)

Question 23 Unsaved

Lydia, James, and Lola’s partnership calls for the following allocation of income: James and Lola are to receive lump sum salary payments of $25,000 each, Lydia and Lola are to receive interest of 5% of their ending capital balances, if there’s a profit James is to receive a bonus equal to 10% of the profit, and any remaining income is to be split between Lydia, James, and Lola 40%, 20%, and 40% respectively. Lydia, James, and Lola’s ending capital balances were $100,000, $50,000, and $150,000 respectively. If there was a partnership net loss of <$100,000>, how much was allocated to or <from> James in total?

Question 23 options:

A) 

<$15,500>

B) 

$25,000

C) 

$500

D) 

<$7,500>

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Question 24 (4 points)

Question 24 Unsaved

Lydia, James, and Lola are in a partnership together and each have capital balances of $250,000. A new partner, Shawn, pays James $200,000 directly for 100% of his interest in the new partnership, replacing him in the partnership. The journal entry on the books of the partnership to account for this transaction would be:

Question 24 options:

A) 

Debit Capital-James $250,000; Credit Capital-Shawn $250,000

B) 

No entry is made on the partnership’s books as the transaction was made directly between James and Shawn

C) 

Debit Capital-James $200,000, Debit Cash $50,000; Credit Capital-Shawn $250,000

D) 

Debit Cash $250,000; Credit Capital-Shawn $250,000

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Question 25 (4 points)

Question 25 Unsaved

Lydia, James, Lola, and Shawn are in a partnership together and have a combined capital balance of $700,000. A new partner, Carol pays the partnership $300,000 directly for a 1/5 interest in the new partnership. The partnership chooses the goodwill method to existing partners to account for this transaction and will allocate any increase in implied value evenly amongst the existing partners. The journal entry on the books of the partnership to account for this transaction would be:

Question 25 options:

A) 

Debit Cash $300,000, Debit Goodwill $500,000; Credit each of the existing partner’s capital accounts $125,000 each, Credit Capital-Carol $300,000

B) 

A Debit Cash $300,000, Debit Goodwill $400,000; Credit each of the existing partner’s capital accounts $100,000 each, Credit Capital-Carol $300,000

C) 

Debit Goodwill $400,000, Debit Cash $800,000; Credit each of the existing partner’s capital accounts $200,000 each, Credit Capital-Carol $400,000

D) 

Debit Goodwill $300,000, Debit Cash $800,000; Credit each of the existing partner’s capital accounts $200,000 each, Credit Capital-Carol $300,000

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July 1, 2023
    

 

MULTIPLE CHOICE

1.Which of the following is true about the early stages of international involvement in firms with little or no formal organization?

a.All transactions are subject to a single standardized procedure.

b.Domestic operations assume responsibility for international marketing activities.

c.Consolidation of information and authority over international sales is undertaken.

d.The share of international operations in the sales of the corporation is initially high.

2.The _____ centralizes in one entity, with or without separate incorporation, and accepts all of the responsibility for worldwide activities.

a.export department structure

b.global division

c.international division

d.hybrid structure

3.Which of the following is true about international divisions?

a.The international division centralizes in several entities, without separate incorporation, and accepts all of the responsibility for international activities.

b.To avoid situations in which the international division is at a disadvantage in competing for production and related services, corporations need to coordinate between domestic and international operations.

c.The international division best serves firms with several products that vary significantly in terms of their environmental sensitivity, and when international sales and profits are quite significant compared with those of the domestic divisions.

d.The international division concentrates solely on manufacturing functions in order to take advantage of the economies of scale.

4.Which of the following global structures improves cost efficiency through centralization of manufacturing facilities?

a.Global functional structure

b.Global customer structure

c.Global product structure

d.Global mixed structure

5.Which of the following is an approach to organizational structure that gives worldwide responsibility to strategic business units for marketing their product lines?

a.Area structure

b.Functional structure

c.Mixed structure

d.Product structure

6.All-Techno Inc., a leading Florida-based software firm, has branches all over the world. Its operations are mainly divided into three regions comprising Europe, Asia, and the U.S. These divisions are responsible for all the manufacturing and marketing activities in their respective areas. What kind of organizational structure is being adopted by All-Techno?

a.Product structure

b.Functional structure

c.Area structure

d.Customer structure

7.If market conditions with respect to product acceptance and operating conditions vary dramatically, the _____ approach is the one to choose.

a.functional

b.customer

c.product

d.area

8.An approach to organizational structure that is based on which consumer groups are served is referred to as a(n) _____.

a.functional structure

b.area structure

c.customer structure

d.product structure

9.A(n) _____ structure combines two or more organizational dimensions simultaneously.

a.matrix

b.functional

c.area

d.mixed

10.Which approach to organizational structure refers to a business driven by a worldwide business unit and implemented by a geographic unit?

a.Mixed structure

b.Matrix structure

c.Functional structure

d.Shell structure

 

default image
July 1, 2023
    

 

MULTIPLE CHOICE

1.Which of the following is true about the early stages of international involvement in firms with little or no formal organization?

a.All transactions are subject to a single standardized procedure.

b.Domestic operations assume responsibility for international marketing activities.

c.Consolidation of information and authority over international sales is undertaken.

d.The share of international operations in the sales of the corporation is initially high.

2.The _____ centralizes in one entity, with or without separate incorporation, and accepts all of the responsibility for worldwide activities.

a.export department structure

b.global division

c.international division

d.hybrid structure

3.Which of the following is true about international divisions?

a.The international division centralizes in several entities, without separate incorporation, and accepts all of the responsibility for international activities.

b.To avoid situations in which the international division is at a disadvantage in competing for production and related services, corporations need to coordinate between domestic and international operations.

c.The international division best serves firms with several products that vary significantly in terms of their environmental sensitivity, and when international sales and profits are quite significant compared with those of the domestic divisions.

d.The international division concentrates solely on manufacturing functions in order to take advantage of the economies of scale.

4.Which of the following global structures improves cost efficiency through centralization of manufacturing facilities?

a.Global functional structure

b.Global customer structure

c.Global product structure

d.Global mixed structure

5.Which of the following is an approach to organizational structure that gives worldwide responsibility to strategic business units for marketing their product lines?

a.Area structure

b.Functional structure

c.Mixed structure

d.Product structure

6.All-Techno Inc., a leading Florida-based software firm, has branches all over the world. Its operations are mainly divided into three regions comprising Europe, Asia, and the U.S. These divisions are responsible for all the manufacturing and marketing activities in their respective areas. What kind of organizational structure is being adopted by All-Techno?

a.Product structure

b.Functional structure

c.Area structure

d.Customer structure

7.If market conditions with respect to product acceptance and operating conditions vary dramatically, the _____ approach is the one to choose.

a.functional

b.customer

c.product

d.area

8.An approach to organizational structure that is based on which consumer groups are served is referred to as a(n) _____.

a.functional structure

b.area structure

c.customer structure

d.product structure

9.A(n) _____ structure combines two or more organizational dimensions simultaneously.

a.matrix

b.functional

c.area

d.mixed

10.Which approach to organizational structure refers to a business driven by a worldwide business unit and implemented by a geographic unit?

a.Mixed structure

b.Matrix structure

c.Functional structure

d.Shell structure

 

default image
July 1, 2023
    

 

MULTIPLE CHOICE

1.Which of the following is true about the early stages of international involvement in firms with little or no formal organization?

a.All transactions are subject to a single standardized procedure.

b.Domestic operations assume responsibility for international marketing activities.

c.Consolidation of information and authority over international sales is undertaken.

d.The share of international operations in the sales of the corporation is initially high.

2.The _____ centralizes in one entity, with or without separate incorporation, and accepts all of the responsibility for worldwide activities.

a.export department structure

b.global division

c.international division

d.hybrid structure

3.Which of the following is true about international divisions?

a.The international division centralizes in several entities, without separate incorporation, and accepts all of the responsibility for international activities.

b.To avoid situations in which the international division is at a disadvantage in competing for production and related services, corporations need to coordinate between domestic and international operations.

c.The international division best serves firms with several products that vary significantly in terms of their environmental sensitivity, and when international sales and profits are quite significant compared with those of the domestic divisions.

d.The international division concentrates solely on manufacturing functions in order to take advantage of the economies of scale.

4.Which of the following global structures improves cost efficiency through centralization of manufacturing facilities?

a.Global functional structure

b.Global customer structure

c.Global product structure

d.Global mixed structure

5.Which of the following is an approach to organizational structure that gives worldwide responsibility to strategic business units for marketing their product lines?

a.Area structure

b.Functional structure

c.Mixed structure

d.Product structure

6.All-Techno Inc., a leading Florida-based software firm, has branches all over the world. Its operations are mainly divided into three regions comprising Europe, Asia, and the U.S. These divisions are responsible for all the manufacturing and marketing activities in their respective areas. What kind of organizational structure is being adopted by All-Techno?

a.Product structure

b.Functional structure

c.Area structure

d.Customer structure

7.If market conditions with respect to product acceptance and operating conditions vary dramatically, the _____ approach is the one to choose.

a.functional

b.customer

c.product

d.area

8.An approach to organizational structure that is based on which consumer groups are served is referred to as a(n) _____.

a.functional structure

b.area structure

c.customer structure

d.product structure

9.A(n) _____ structure combines two or more organizational dimensions simultaneously.

a.matrix

b.functional

c.area

d.mixed

10.Which approach to organizational structure refers to a business driven by a worldwide business unit and implemented by a geographic unit?

a.Mixed structure

b.Matrix structure

c.Functional structure

d.Shell structure

 

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Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

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Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

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Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

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Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

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Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

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