Question : 21) When the investment readily convertible to cash and the : 1230240

Accounting

21) When the investment is readily convertible to cash and the investor plans to convert the investment to cash within one year, the investment is shown on the balance sheet as:

A) short-term.

B) long-term.

C) equity.

D) either long-term or short-term.

22) The following is the proper order for assets on a balance sheet:

A) Cash, intangibles, inventories, and long-term investments.

B) Cash, accounts receivable, property, plant and equipment, and long-term investments.

C) Cash, long-term investments, property, plant and equipment, and intangibles.

D) Cash, long-term investments, prepaid expenses and property, plant and equipment.

23) All investments not classified as available-for-sale investments or trading securities are:

A) equity investments.

B) debt investments.

C) held-to-maturity investments.

D) profitable investments.

24) On January 1, 2012, Plymouth Company purchases $100,000, 6% bonds at a price of 90.4 and a maturity date of January 1, 2016. Interest is paid semiannually, on January 1 and July 1. Plymouth Company has a calendar year end. The entry to record the purchase of the bond investment on January 1, 2012, would include a:

A) debit to Short-Term Investment in Bonds for $100,000.

B) debit to Short-Term Investment in Bonds for$ 90,400.

C) debit to Long-Term Investment in Bonds for $100,000.

D) debit to Long-Term Investment in Bonds for$ 90,400.

25) On January 1, 2012, Plymouth Company purchases $100,000, 6% bonds at a price of 90.4 and a maturity date of January 1, 2016. Interest is paid semiannually, on January 1 and July 1. Plymouth Company has a calendar year end. The entry for the receipt of interest on July 1, 2012 would include a:

A) debit to Cash for $3,000.

B) debit to Cash for $6,000.

C) debit to Interest Receivable for $3,000.

D) debit to Interest Receivable for $6,000.

26) On January 1, 2012, Plymouth Company purchases $100,000, 6% bonds at a price of 90.4 and a maturity date of January 1, 2016. Interest is paid semiannually, on January 1 and July 1. Plymouth Company has a calendar year end. The entry to amortize the bond investment on July 1, 2012 would include a:

A) debit to Cash for $ 200.

B) debit to Cash for $1,200.

C) debit to Long-Term Investment in Bonds for $ 200.

D) debit to Long-Term Investment in Bonds for $1,200.

27) On January 1, 2012, Plymouth Company purchases $100,000, 6% bonds at a price of 90.4 and a maturity date of January 1, 2016. Interest is paid semiannually, on January 1 and July 1. Plymouth Company has a calendar year end. The adjusting entry to accrue interest on December 31, 2012 would include a:

A) debit to Cash $3,000.

B) debit to Cash $6,000.

C) debit to Interest Receivable $3,000.

D) debit to Interest Receivable $6,000.

28) On January 1, 2012, Plymouth Company purchases $100,000, 6% bonds at a price of 90.4 and a maturity date of January 1, 2016. Interest is paid semiannually, on January 1 and July 1. Plymouth Company has a calendar year end. The adjusting entry to amortize the bond investment on December 31, 2012 would include a:

A) debit to Cash $200.

B) debit to Cash $1,200.

C) debit to Long-Term Investment in Bonds $1,200.

D) debit to Long-Term Investment in Bonds $ 200.

29) On January 1, 2012, Plymouth Company purchases $100,000, 6% bonds at a price of 90.4 and a maturity date of January 1, 2016. Interest is paid semiannually, on January 1 and July 1. Plymouth Company has a calendar year end. The entry for the receipt of interest on January 1, 2012 would include a:

A) credit to Interest Revenue $6,000.

B) credit to Interest Receivable $6,000.

C) credit to Interest Revenue $3,000.

D) credit to Interest Receivable $3,000.

30) On January 1, 2012, Winston Company purchased 6% bonds for $50,000 cash. Interest is payable semiannually on July 1 and January 1. The entry to record the July 1 semiannual interest payment would include a:

A) debit to Interest Receivable for $1,500.

B) credit to Interest Revenue for $1,500.

C) credit to Interest Revenue for $3,000.

D) debit to Interest Receivable for $3,000.

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July 1, 2023

1) Members of OSHA's $100,000 club have:

A) invested more than $100,000 in health and safety equipment for employees.

B) purchased health and safety insurance coverage of at least $100,000.

C) received fines of $100,000 or more for safety or health violations.

D) paid more than $100,000 in workers' compensation claims.

2) Workplace safety is a significant issue because approximately ________ employees were injured on the job in 2009.

A) 3,000,000

B) 1,000,000

C) 500,000

D) 250,000

3) According to the doctrine of contributory negligence, employers were:

A) not responsible for an employees' injury when another employee's negligence caused the injury.

B) not liable for an employee's injuries when that employee's own negligence caused the injury.

C) responsible for compensating employees for all work-related illnesses and accidents.

D) not responsible for any employees' injuries under any circumstances.

4) Workers' compensation laws vary by state, but all are built on the theory that:

A) employees' personal health insurance should pay the medical costs of any injuries.

B) work-related accidents are costs of doing business and should be paid for by employers.

C) governments are responsible for paying the medical costs related to an employee's injuries.

D) employers are not responsible for employee injuries resulting from the employee's own negligence.

5) Which of the following is a true statement about workers' compensation?

A) Workers' compensation laws are federally mandated and enforced by OSHA.

B) Non-union firms are not required to carry workers' compensation insurance.

C) Workers' compensation is not mandatory in all U.S. states.

D) Most states had workers' compensation programs by 1911.

6) Workers' compensation:

A) pays only if the worker cannot.

B) is considered a no-fault system.

C) is mandatory in all fifty states.

D) covers employees' medical costs with Medicaid.

7) The primary goal of state workers' compensation laws is best described as:

A) providing a means for injured workers to receive care and income without having to sue.

B) determining the cause of work-related accidents and minimizing future accidents.

C) ensuring that employers are not held responsible for accidents caused by worker negligence.

D) spreading the cost of workplace accidents among all workers in the state.

8) The ________ holds that employers are not held liable for an employee's injuries when the negligence of another employee contributed to or caused the accident.

A) doctrine of contributory negligence

B) fellow-servant rule

C) general duty provision

D) "no-fault" rule

9) Which of the following is most likely true?

A) Workers' compensation is a federal program. OSHA is the organization that helps individual states meet workers' compensation standards.

B) Workers' compensation is a federal program that provides compensation to employees injured on the job. OSHA is a federal program that creates and enforces safety standards in the work place.

C) OSHA is a federal program that creates safety standards for work environments. Workers' compensation programs are created by the individual states to provide compensation for employees injured on the job.

D) OSHA is a federal program that provides compensation for employees injured on the job. Workers' compensation programs are state programs that provide compensation for employees injured on the job.

10) Workers' compensation:

A) replaces the worker's entire income until he/she is able to work again.

B) provides benefits for permanent, but not temporary, impairment.

C) gives survivors burial allowances and income benefits.

D) covers medical expenses up to $100,000.