External link to Question : Multiple Choice Questions 211. Which of the following characteristic of liabilities, rather : 1229364

Question : Multiple Choice Questions 211. Which of the following characteristic of liabilities, rather : 1229364

    Multiple Choice Questions   211. Which of the following is characteristic of liabilities, rather than of equity? (More than one answer may be correct.)  A. The obligation matures. B. Interest paid to the provider of the capital is deductible in the determination of taxable income. C. The capital providers’ claims are residual in the event of liquidation of the business. D. The capital providers normally have the right […]

External link to Question : 91. Accounting for just-in-time operations requires fewer transactions because A. large batches of : 1239683

Question : 91. Accounting for just-in-time operations requires fewer transactions because A. large batches of : 1239683

    91. Accounting for just-in-time operations requires fewer transactions because A. large batches of inventory are combined in a smaller number of transactions.B. costs are accumulated in one department and then transferred to the next department.C. combined material and conversion costs are transferred to finished goods.D. costs are transferred from department to department allowing for better controls in costs.   92. Which of the following results in fewer transactions in just-in-time […]

External link to Question : 55.Which of the following statements regarding accounting information systems not : 1236989

Question : 55.Which of the following statements regarding accounting information systems not : 1236989

  55.Which of the following statements regarding accounting information systems is not true?     A.Accounting information systems collect and process data from transactions and events. B.Accounting information systems organize data in useful forms. C.Accounting information systems are not subject to internal control policies. D.Accounting information systems are useful to effective decision making. E.Accounting information systems communicate information to business decision makers. 56.Which of the following […]

External link to Question : 71. Slickers, Inc. had the following capital structure during 2010:Preferred stock, : 1228446

Question : 71. Slickers, Inc. had the following capital structure during 2010:Preferred stock, : 1228446

  71. Slickers, Inc. had the following capital structure during 2010: Preferred stock, 7%, $50 par value, 1,000 shares issued and outstanding with dividends in arrears for 2008 and 2009. Common stock, $100 par value, 2,000 shares issued and outstanding. The total dividends declared and paid during 2010 totaled $25,000. How much of the dividend is paid to the preferred stockholders during 2010 assuming the preferred […]

External link to Question : 125. Bonds Payable has a balance of $1,000,000 and Discount Bonds : 1226709

Question : 125. Bonds Payable has a balance of $1,000,000 and Discount Bonds : 1226709

    125. Bonds Payable has a balance of $1,000,000 and Discount on Bonds Payable has a balance of $15,500.  If the issuing corporation redeems the bonds at 98.5, what is the amount of gain or loss on redemption? A. $500 lossB. $15,500 lossC. $15,500 gainD. $500 gain   126. Bonds Payable has a balance of $1,000,000 and Premium on Bonds Payable has a balance of $7,000.  If the issuing corporation redeems […]

External link to Question : 108.Which of the following not considered in computing net cost : 1244373

Question : 108.Which of the following not considered in computing net cost : 1244373

108.Which of the following is not considered in computing net cost of purchases?   a. Freight paid on goods shipped to customers b. Purchases returns and allowances c. Freight paid on purchased goods d. Purchases       109.Which of the following is necessary for computing cost of goods sold but not necessary for computing the cost of goods available for sale?   a. Freight-in […]

External link to Question : Objective 11.3 1) Relevant costs in a make-or-buy decision of a : 1211761

Question : Objective 11.3 1) Relevant costs in a make-or-buy decision of a : 1211761

  Objective 11.3   1) Relevant costs in a make-or-buy decision of a part include ________. A) setup overhead for the manufacture of the product using the outsourced part B) currently used manufacturing capacity that has alternative uses C) annual plant insurance costs that will remain the same D) management consultant fees to restructure the organization framework of the company   2) Which of the […]

External link to Question : 91. The adjustment for changes in operating working capital accounts depends : 1230433

Question : 91. The adjustment for changes in operating working capital accounts depends : 1230433

    91. The adjustment for changes in operating working capital accounts depends in part on a firm’s rate of growth. Rapidly growing firms usually experience significant increases in.  A. accounts receivable, only. B. inventories, only. C. accounts receivable and inventories. D. neither accounts receivable, nor inventories. E. none of the above   92. The adjustment for changes in operating working capital accounts depends in part on a firm’s rate of growth. […]

External link to Question : 71.Internal control systems are: A.Developed by the Securities and Exchange Commission : 1258892

Question : 71.Internal control systems are: A.Developed by the Securities and Exchange Commission : 1258892

    71.Internal control systems are:    A.Developed by the Securities and Exchange Commission for public companies.   B.Developed by the Small Business Administration for non-public companies.   C.Developed by the Internal Revenue Service for all U.S. companies.   D.Required by Sarbanes-Oxley (SOX) to be documented and certified if the company’s stock is traded on an exchange.   E.Required only if a company plans to engage […]

External link to Question : 11. Which of the following a factor involved in communicating useful : 1208102

Question : 11. Which of the following a factor involved in communicating useful : 1208102

  11. Which of the following is a factor involved in communicating useful information?  A. Attributes of the users B. Purpose for which the information will be used C. Process by which the information is analyzed D. All of the other answers are correct. 12. Current financial reporting standards assume that users of accounting information:  A. Have a reasonably informed knowledge of business. B. Have an expert’s understanding of economic and financial events […]

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