36. What three factors define the relevant labor market? A) Technology, population density, education B) Occupation, location, industry C) Union status, inflation, compensation strategy D) Occupation, population density, compensation strategy E) education, industry, technology 37. A mature company is expanding into overseas markets.  A few U.S. managers will be transferred, but most new employees will be hired.  The strategic plan involves focusing on research […]

    61. Firms do not recognize certain obligations that are uncertain as to amount or timing or both as liabilities, unless those items meet a probability threshold and have a reliable measurement attribute. U.S. GAAP refers to these as _____, such as the possible obligation under an unsettled lawsuit. A. contingent liabilitiesB. unrealized contingenciesC. realized contingenciesD. unrecognized contingenciesE. recognized contingencies   62. Firms do not recognize certain obligations that are uncertain as […]

  31. Mary’s Music Store reported net income of $135,000. Beginning balances in Accounts Receivable and Accounts Payable were $29,000 and $26,000, respectively. Ending balances in these accounts were $30,000 and $24,000, respectively. Assuming that all relevant information has been presented, Mary’s cash flows from operating activities would be:  A. $132,000. B. $134,000. C. $136,000. D. $138,000. 32. Kela Corporation reports net income of $450,000 that includes depreciation expense of $70,000. […]

  31) For each of the following statements regarding the satisfaction of transfer pricing criteria, identify whether you would expect the transfer pricing method to meet the criteria. Provide a yes, no, or sometimes for each situation.   ________a.Market-Based transfer pricing achieves goal congruence. ________b.Cost-Based transfer pricing achieves goal congruence. ________c.Negotiated transfer pricing achieves goal congruence. ________d.Market-Based transfer pricing motivates management effort. ________e.Cost-Based transfer pricing […]

  Multiple Choice Questions 31. Which of the following tasks does the Securities & Exchange Commission (SEC) not perform?  A. Overseeing the work of the Financial Accounting Standards Board (FASB). B. Overseeing the work of the Public Company Accounting Oversight Board (PCAOB). C. The responsibility for protecting investors and maintaining the integrity of the securities markets. D. The development of generally accepted accounting principles. 32. Which of the following tasks does […]

  132.Kent Manufacturing produces a product that sells for $50.00. Fixed costs are $260,000 and variable costs are $24.00 per unit. Kent can buy a new production machine that will increase fixed costs by $11,400 per year, but will decrease variable costs by $3.50 per unit. Compute the revised break-even point in dollars with the purchase of the new machine.    A.$500,000. B.$440,678. C.$521,923. D.$480,000. E.$460,000. […]

  21.Consider the following events for Sophia Incorporated: Under cash-basis accounting, what is the appropriate day to record the revenues related to the sand volleyball camp? A.April 5. B.April 12. C.April 21. D.April 23. 22.A company provided $1,500 of services to customers during the month of May. The customers paid in June. What would the impact of these transactions be during May on each of […]

  71. The standard materials cost to produce 1 unit of Product M is 6 pounds of material at a standard price of $50 per pound. In manufacturing 8,000 units, 47,000 pounds of material were used at a cost of $51 per pound. What is the total direct materials cost variance?  A. $48,000 unfavorable. B. $51,000 favorable. C. $51,000 unfavorable. D. $3,000 favorable. E. $3,000 unfavorable. 72. The following information describes a […]

  Fill in the Blank Questions  72.Present Value of 1  Periods3%4%5%6%7%8%9%10%12% 30.91510.88900.86380.83960.81630.79380.77220.75130.7118 40.88850.85480.82270.79210.76290.73500.70840.68300.6355 50.86260.82190.78350.74730.71300.68060.64990.62090.5674 60.83750.79030.74620.70500.66630.63020.59630.56450.5066 70.81310.75990.71070.66510.62270.58350.54700.51320.4523 80.78940.73070.67680.62740.58200.54030.50190.46650.4039 90.76640.70260.64460.59190.54390.50020.46040.42410.3606 100.74410.67560.61390.55840.50830.46320.42240.38550.3220 Future Value of 1  Periods3%4%5%6%7%8%9%10%12% 31.09271.12491.15761.19101.22501.25971.29501.33101.4049 41.12551.16991.21551.26251.31081.36051.41161.46411.5735 51.15931.21671.27631.33821.40261.46931.53861.61051.7623 61.19411.26531.34011.41851.50071.58691.67711.77161.9738 71.22991.31591.40711.50361.60581.71381.82801.94872.2107 81.26681.36861.47751.59381.71821.85091.99262.14362.4760 91.30481.42331.55131.68951.83851.99902.17192.35792.7731 101.34391.48021.62891.79081.96722.15892.36742.59373.1058 Present Value of an Annuity of 1  Periods3%4%5%6%7%8%9%10%12% 32.82862.77512.72322.67302.62432.57712.53132.48692.4018 43.71713.62993.54603.46513.38723.31213.23973.16993.0373 54.57974.45184.32954.21244.10023.99273.88973.79083.6048 65.41725.24215.07574.91734.76654.62294.48594.35534.1114 76.23036.00215.78645.58245.38935.20645.03304.86844.5638 87.01976.73276.46326.20985.97135.74665.53485.33494.9676 97.78617.43537.10786.80176.51526.24695.99525.79505.3282 108.53028.11097.72177.36017.02366.71016.41776.14465.6502 Future Value of an Annuity of 1  Periods3%4%5%6%7%8%9%10%12% 33.09093.12163.15253.18363.21493.24643.27813.31003.3744 44.18364.24654.31014.37464.43994.50614.57314.64104.7793 55.30915.41635.52565.63715.75075.86665.98476.10516.3528 66.46846.63306.80196.97537.15337.33597.52337.71568.1152 77.66257.89838.14208.39388.65408.92289.20049.487210.089 88.89239.21429.54919.897510.26010.63711.02911.43612.300 910.15910.58311.02711.49111.97812.48813.02113.58014.776 1011.46412.00612.57813.18113.81614.48715.19315.93717.549 _____________ […]

  16) If the net present value analyses of a project resulted in a positive value and the company does not accept the project, it may be assumed that A) qualitative factors outweigh the benefit of the investment. B) An alternative project has a lower NPV. C) the net initial investment cannot be recovered. D) the return is greater than that required by the company. […]