Multiple Choice Questions 26. At which stage of the training process would it be critical to understand the influence of the characteristics of adult learners and learning principles? A) Assessment B) Development C) Analysis D) Evaluation E) Learning objective 27. A consultant has been contracted by an organization to develop a training program. What is the first step the consultant should take? A) Determine […]

  190. Prepare an income statement and a retained earnings statement for the month ended September 30, 2011, from the T accounts below of Carson Company.  Prepaid Insurance   Accounts Receivable   Unearned Revenues   Wages Payable 1,400     1,600       1,200     225   80      500     350                     […]

  172.Nate Lobell is the president and sole owner of Gal’s Pal Apparel, Inc. Gal’s Pal has two wholly owned subsidiaries with which it occasionally transacts business. Nate has been trying to get the consolidated net income of Gal’s Pal above the $1,000,000 mark so that he can qualify for a line of credit with his bank. This year Gal’s Pal is on track to […]

  72. Norma and Marilyn are partners. The partnership agreement provides that Norma will receive a salary of $30,000 and Marilyn will receive a salary of $50,000. These salaries were paid to the partners during 2013 and were charged to the partners’ drawing accounts. Both partners also receive 8 percent on their capital balances at the beginning of the year. The balance of any remaining profits […]

    61. Suppose that company noted a discrepancy whereby the amount of cash deposited in the bank account exceeded the amount included as cash sales on the cash register tapes. This overage should be recorded as a(n):  A. debit to Cash Over and Short. B. credit to Cash Over and Short. C. increase in Petty Cash. D. increase in Accounts Receivable.   62. A petty cash custodian should always:  A. maintain […]

  12.2   Multiple-Choice Questions 1) The direct method of proof is always preferable to the indirect method because it A) provides a lesser level of uncertainty. B) is generally more dissuasive. C) is easier to refute. D) uses more circumstantial evidence. 2) Which of the following statements is true of the methods of proof? A) Unlike the indirect method of proof, the direct method of […]

  Appendix B Time Value of Money   True / False Questions  1.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 […]

  71. Classifying costs by behavior involves:  A. Identifying fixed cost and variable cost. B. Identifying cost of goods sold and operating costs. C. Identifying all costs. D. Identifying costs in a physical manner. E. Identifying both quantitative and qualitative cost factors. 72. A classification of costs that is useful for assigning responsibility to and evaluating managers is:  A. Classification by traceability. B. Classification by behavior. C. Classification by relevance. D. Classification by function. E. Classification by […]

  11) Loss-causing customers: A) should be dropped B) should be evaluated for ways to become profitable customers C) should be retained because each customer adds to long-run profitability D) do not exist because additional customer sales always increase profits   12) Customers are more valuable when they are all of the following EXCEPT: A) well known in the community B) expected to continue to […]

  123.Kline Company accrued wages of $7,350 that were earned by employees unpaid at the end of 2014. Assuming Kline uses reversing entries, which of the following entries is appropriate for reversing the accrued wages at the beginning of 2015?    A.Debit Wages Expense $7,350; credit Cash $7,350. B.Debit Wages Expense $7,350; credit Wages Payable $7,350. C.Debit Wages Payable $7,350; credit Cash $7,350. D.Debit Cash $7,350; […]