Question : MULTIPLE CHOICE. Choose the one alternative that best completes the : 1196266

Accounting

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 26) A variance is considered to be 26) ______ A) the difference between an actual result and a budget amount. B) the gap between an actual result and a benchmark amount. C) the required number of inputs for one standard output. D) a standard. E) the difference between a budgeted amount and a standard amount. 27) The type of budget that is based on one level of output, without adjustment for any operational or financial changes is called 27) ______ A) a balanced budget. B) a static budget. C) a cost budget. D) a standard budget. E) a flexible budget. 28) ________ is a carefully predetermined amount usually expressed on a per-unit basis. 28) ______ A) A flexible budget B) Fixed factory overhead C) A standard D) Variable marketing overhead E) A static budget 29) A budget that is adjusted in accordance with changes in actual output is called 29) ______ A) a flexible budget. B) a cost budget. C) a trial balance budget. D) a balanced budget. E) a static budget 30) Some financial variances show increases in operating income relative to a budgeted or allocated amount, and others show decreases in operating income. Respectively, these variances are 30) ______ A) budgeted, standard. B) unfavourable, favourable. C) standard, budgeted. D) favourable, unfavourable. E) fixed, variable. 31) All of the following are TRUE concerning standards, EXCEPT, 31) ______ A) represent the best expected level of performance. B) some organizations develop standards based on past results C) they are usually expressed on a per unit basis. D) they should only be developed after a careful study of the desired data E) they require time-motion studies by engineering to be reliable 32) General Insurance Company had a static budgeted operating income of $4.6 million; however, actual income was $3.0 million. What is the static budget variance of operating income? 32) ______ A) $1,000,000 unfavourable B) $1,600,000 unfavourable C) $1,600,000 favourable D) $3,000,000 favourable E) $1,000,000 favourable Use the information below to answer the following question(s).

Ames Golf Company used the following data to evaluate their current operating system. The company sells 1 pack of golf balls for $10 per pack. The $10 selling price is also the budgeted selling price.

BudgetedActual

Units Sold 1,000,000990,000

Variable Costs$3,000,000 $2,500,000

Fixed Costs $1,800,000 $1,850,000

33) What is the actual operating income for Ames Golf Company using the actual results? 33) ______ A) <$3,360,000> B) $5,200,000 C) $4,750,000 D) $5,970,000 E) $5,550,000 34) What is the budgeted operating income for Ames Golf Company? 34) ______ A) $7,000,000 B) $5,550,000 C) $5,200,000 D) $5,970,000 E) $4,750,000 35) What is the total static budget variance for Ames Golf Company? 35) ______ A) $400,000 favourable B) $450,000 unfavourable C) $650,000 favourable D) $390,000 unfavourable E) $350,000 favourable 36) A company uses a static budget approach and the previous management accountant calculated the following information: Fixed costs variance $10,000 U; revenues variance $400,000 F; contribution margin variance $60,000 F

Required: What is the Total static-budget variance ? 36) ______ A) $50,000 U B) $390,000 F C) $230,000 F D) $50,000 F E) $230,000 U 37) All of the following are considered to be steps in the preparation of a flexible budget EXCEPT

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July 1, 2023

61. Which of the following statements regarding intermolecular forces is incorrect?

A)Hydrogen bonding is the strongest of the intermolecular forces.

B)London dispersion forces increase with increasing molecular size.

C)Dipole-dipole forces are present in all atoms and molecules.

D)In order for a pure substance to participate in hydrogen bonding, it must have hydrogen bonded to F, O, or N.

E)Intermolecular forces are much weaker than bonding forces.

62. Which of the following statements regarding intermolecular forces is incorrect?

A)Hydrogen bonding is the strongest of the intermolecular forces for substances of similar molar mass.

B)London dispersion forces are present in all atoms and molecules.

C)Dipole-dipole forces increase with increasing molecular size.

D)Bonding forces are much stronger than intermolecular forces.

E)Hydrogen bonding is the reason for the abnormally high boiling point of water.

63. Which choice correctly lists the intermolecular forces present in CH3NH2?

A)London forces only

B)dipole-dipole forces only

C)London forces, dipole-dipole forces, and hydrogen bonding

D)dipole-dipole forces and hydrogen bonding

E)hydrogen bonding only

64. Which choice correctly lists the intermolecular forces present in CH4?

A)London forces only

B)London forces and dipole-dipole forces

C)London forces, dipole-dipole forces, and hydrogen bonding

D)dipole-dipole forces and hydrogen bonding

E)London forces and hydrogen bonding

65. Which choice correctly lists the intermolecular forces present in CH3Br?

A)London forces only

B)London forces and dipole-dipole forces

C)London forces, dipole-dipole forces, and hydrogen bonding

D)dipole-dipole forces and hydrogen bonding

E)London forces and hydrogen bonding

66. Arrange the following substances in order of increasing boiling point: CH3OH, CH4, CH3CH2OH, HOCH2CH2OH

A)CH3OH < CH4 < CH3CH2OH < HOCH2CH2OH B)CH4 < CH3OH < CH3CH2OH < HOCH2CH2OH C)CH4 < CH3OH < HOCH2CH2OH < CH3CH2OH D)CH3OH < CH4 < HOCH2CH2OH < CH3CH2OH E)HOCH2CH2OH < CH3CH2OH < CH3OH < CH4 67. Arrange the following substances in order of increasing boiling point: N2, H2, NH3, PH3 A)H2 < N2 < PH3 < NH3D)N2 < PH3 < NH3 < H2 B)N2 < H2 < PH3 < NH3E)NH3 < PH3 < N2 < H2 C)H2 < N2 < NH3 < PH3 68. Select the pair of substances which has the one with the higher equilibrium vapor pressure at a given temperature listed first. A)H2O, H2SD)NH3, PH3 B)CH3CH2OH, CH3OHE)Br2, Cl2 C)CH3COCH3, CH3CH2CH2OH 69. Select the pair of substances which has the one with the higher equilibrium vapor pressure at a given temperature listed first. A)H2O, HClD)AsH3, PH3 B)CH3OH, CH4E)Cl2, Br2 C)CH3CH2CH2OH, CH3COCH3 70. Which of the following statements regarding the liquid state is incorrect? A)Liquids are about 1000 times denser than gases. B)Liquids are normally about 90-95% as dense as their corresponding solid. C)The viscosity of a liquid is a measure of its resistance to flow. D)Molecules with high intermolecular forces will have high surface tension. E)Surface tension increases as temperature increases.