External link to Question : 51. The chronological record in which transactions initially recorded in the : 1224874

Question : 51. The chronological record in which transactions initially recorded in the : 1224874

    51. The chronological record in which transactions are initially recorded in the order in which they occur is called a:  A. balance sheet. B. chart of accounts. C. trial balance. D. general journal.   52. A list of all active accounts and their balances at a particular date, which is used to prove the equality of debits and credits, is called a:  A. chart of accounts. B. general ledger. C. general journal. […]

External link to Question : 81. In paper-and-pencil honesty tests, some items less direct and tap : 1251017

Question : 81. In paper-and-pencil honesty tests, some items less direct and tap : 1251017

    81. In paper-and-pencil honesty tests, some items are less direct and tap more basic traits. Which of the following is not one of them?  A. Self-serving bias B. Social conformity C. Conscientiousness D. Emotional stability Paper-and-pencil honesty tests come in a number of different forms. Some directly emphasize questions dealing with past theft admissions or associations with people who stole from employers. Other items are less direct and […]

External link to Question : 130.During April, the production department of a process operations system : 1236671

Question : 130.During April, the production department of a process operations system : 1236671

  130.During April, the production department of a process operations system completed and transferred to finished goods 18,000 units that were in process at the beginning of April and 90,000 units that were started and completed in April. April’s beginning inventory units were 100% complete with respect to materials and 40% complete with respect to labor. At the end of April, 30,000 additional units were […]

External link to Question : 61. For January, sales revenue $600,000; sales commissions 5% of sales; : 1233873

Question : 61. For January, sales revenue $600,000; sales commissions 5% of sales; : 1233873

  61. For January, sales revenue is $600,000; sales commissions are 5% of sales; the sales manager’s salary is $96,000; advertising expenses are $80,000; shipping expenses total 2% of sales; and miscellaneous selling expenses are $2,100 plus 1/2 of 1% of sales. Total selling expenses for the month of January are:  A. $157,100 B. $223,100 C. $183,750 D. $182,100 62. For February, sales revenue is $700,000; sales commissions are 5% of […]

External link to Question : 41. A debit memorandum appeared Mallory’s bank statement for the month : 1224901

Question : 41. A debit memorandum appeared Mallory’s bank statement for the month : 1224901

    41. A debit memorandum appeared on Mallory’s bank statement for the month of May. How will Mallory treat this amount on the May bank reconciliation?  A. Add it to the company’s balance. B. Add it to the bank balance. C. Deduct it from the company’s balance. D. Deduct it from the bank balance.   42. A credit memorandum appeared on Arthur’s September bank statement. How will Arthur treat this […]

External link to Question : 65. Budgeted collections from customers in December total: A. $55,000.B. $60,000.C. $64,000.D. $59,000. 66. : 1229624

Question : 65. Budgeted collections from customers in December total: A. $55,000.B. $60,000.C. $64,000.D. $59,000. 66. : 1229624

    65. Budgeted collections from customers in December total:  A. $55,000. B. $60,000. C. $64,000. D. $59,000.     66. Armstrong, Inc. uses a flexible budget. Armstrong produced 16,000 units in May incurring direct materials cost of $20,480. Its master budget for the year projected direct materials cost of $362,500, at a production volume of 290,000 units. A flexible budget for May should reflect direct materials cost of:  A. $20,480. B. $20,000. […]

External link to Question : 108. The Cardinal Company had a finished goods inventory of 55,000 : 1226973

Question : 108. The Cardinal Company had a finished goods inventory of 55,000 : 1226973

    108. The Cardinal Company had a finished goods inventory of 55,000 units on January 1. Its projected sales for the next four months were: January – 200,000 units; February – 180,000 units; March – 210,000 units; and April – 230,000 units. The Cardinal Company wishes to maintain a desired ending finished goods inventory of 20% of the following months sales. What would be the […]

External link to Question : 87.If the ratio of total stockholders’ equity to total assets : 1169144

Question : 87.If the ratio of total stockholders’ equity to total assets : 1169144

    87.If the ratio of total stockholders’ equity to total assets was greater in 2017 than in 2016, then    A. total assets increased by a greater amount than did total stockholders’ equity.   B. the ratio of total liabilities to total assets was smaller in 2017 than in 2016.   C. creditors would consider it riskier to lend to this company in 2017 than in 2016.   […]

External link to Question : 51. The Garrison Company offers terms of net 30 days for : 1197593

Question : 51. The Garrison Company offers terms of net 30 days for : 1197593

    51. The Garrison Company offers terms of net 30 days for its credit sales. It records the revenue from these sales as soon as the sales are made rather than waiting until cash is received from the customers. This is an example of the  A. realization principle. B. matching principle. C. conservatism principle. D. consistency principle.   52. Which of the following statements is correct?  A. Under the accrual basis […]

External link to Question : 92.CWN Company uses a job order costing system and last : 1258477

Question : 92.CWN Company uses a job order costing system and last : 1258477

  92.CWN Company uses a job order costing system and last period incurred $80,000 of actual overhead and $100,000 of direct labor. CWN estimates that its overhead next period will be $75,000. It also expects to incur $100,000 of direct labor. If CWN bases applied overhead on direct labor cost, its predetermined overhead rate for the next period should be:    A. 75%. B. 80%. C. 107%. D. 125%. E. 133%. […]

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