External link to Question : 71. It beneficial for two related companies to use the cost : 1251718

Question : 71. It beneficial for two related companies to use the cost : 1251718

  71. It is beneficial for two related companies to use the cost price approach for transfer pricing when both of the companies operate as cost centers and are not concerned with the revenue.   72. An activity base is used to charge service department expenses. Match each of the following questions with an activity base. 1. Number of milesMaintenance 2. Number of computers in departmentHuman Resources 3. Number of employeesPayroll […]

External link to Question : 11) Successful implementation of a product differentiation strategy will result : 1211784

Question : 11) Successful implementation of a product differentiation strategy will result : 1211784

  11) Successful implementation of a product differentiation strategy will result in ________. A) a large favorable growth and price-recovery components B) a large favorable price-recovery and productivity components C) a large favorable productivity and growth components D) only a large favorable growth component   12) Assuming previous year’s production capacity was inadequate to produce current year output, the cost effect of growth for fixed […]

External link to Question : 41. A firm records debt securities purchases at the acquisition cost. : 1245736

Question : 41. A firm records debt securities purchases at the acquisition cost. : 1245736

    41. A firm records debt securities purchases at the acquisition cost. The firm must use the _____ method to amortize any difference between acquisition cost and maturity value over the life of the debt as an adjustment to _____  A. market value, interest revenue B. market value, interest expense C. effective interest; interest revenue D. effective interest; interest expense E. maturity value; interest expense   42. Firms sometimes acquire debt […]

External link to Question : 101. All of the following examples of activity bases except: A. salaries of : 1239424

Question : 101. All of the following examples of activity bases except: A. salaries of : 1239424

    101. All of the following are examples of activity bases except:  A. salaries of supervisors B. quality inspections of products C. number of machine setups D. raw materials storage   102. Materials purchased on account during the month amounted to $180,000. Materials requisitioned and placed in production totaled $165,000. From the following, select the entry to record the transaction on the day the materials were bought.  A. Materials                             165,000   Accounts Payable                                   165,000 […]

External link to Question : 21) Which of the following best defines a hypothesis in : 1222571

Question : 21) Which of the following best defines a hypothesis in : 1222571

  21) Which of the following best defines a hypothesis in a scientific process? A) derivation of a conclusion based on observations B) development of a tentative explanation based on preliminary observations C) collection of data for the engagement D) a statement of the exact function an accountant has been engaged to do 22) Which of the following is the basic purpose of gathering evidence? […]

External link to Question : 91. In its first year of operations, EMB Company reported financial : 1230322

Question : 91. In its first year of operations, EMB Company reported financial : 1230322

    91. In its first year of operations, EMB Company reported financial statement income (prior to income tax expense) of $100,000. In the same year, EMB Company reported $80,000 of taxable income, the difference being due to temporary differences. Assuming the enacted tax rate for the current year and all future years is 30%, what is EMB’s current year adjustment for deferred income taxes? A. Debit to […]

External link to Question : 70.Which of the following would be true regarding the Statement : 1255535

Question : 70.Which of the following would be true regarding the Statement : 1255535

  70.Which of the following would be true regarding the Statement of Net Assets for a public college reporting as a special purpose entity engaged in business type activities only? A)A classified statement is required, separating current and long-term assets and liabilities. B)The net asset categories are: invested in capital assets net of related debt, restricted and unrestricted. C)Both of the above are true. D)Neither […]

External link to Question : 103.Which account would be debited when the City of Corfu : 1255433

Question : 103.Which account would be debited when the City of Corfu : 1255433

  103.Which account would be debited when the City of Corfu issued purchase orders for materials and supplies? A)  Budgetary Fund Balance — Reserve for Encumbrance. B)  Encumbrances Control. C)  Expenditures. D)  Materials and supplies expense. 104.The expenditures account equals the amount of supplies purchased during a period under which of the following inventory methods? A) Perpetual. B) Consumption. C) Periodic. D) Purchases. 105.Governmental fund […]

External link to Question : 84. King CorporationSelected data and additional information from the records of : 1224820

Question : 84. King CorporationSelected data and additional information from the records of : 1224820

  84. King CorporationSelected data and additional information from the records of King Corporation are presented below.  Balance Sheet Data 2012 2011 Accounts receivable $132,000 $165,000 Inventories 61,600 55,000 Accounts payable 41,800 77,000 Salaries payable 11,000 5,500 Equipment 121,000 77,000 Accumulated depreciation 30,800 35,200 Bonds payable 110,000 220,000 Common stock 330,000 220,000 Retained earnings 83,600 44,000       Income Statement Data   2012 Net sales […]

External link to Question : 127.Owning a patent: A.Gives the owner the exclusive right to publish : 1258931

Question : 127.Owning a patent: A.Gives the owner the exclusive right to publish : 1258931

    127.Owning a patent:    A.Gives the owner the exclusive right to publish and sell a musical or literary work during the life of the creator plus 70 years.   B.Gives the owner exclusive rights to manufacture and sell a patented item or to use a process for 20 years.   C.Gives its owner an exclusive right to manufacture and sell a device or to […]

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