External link to Question : 141. Of the following which true about assets A. Assets include physical and : 1233822

Question : 141. Of the following which true about assets A. Assets include physical and : 1233822

  141. Of the following which is true about assets  A. Assets include physical and intangible assets. B. Assets include only physical assets. C. Assets are owned solely by the stockholders of the company D. Assets are the result of selling products or services to customers. 142. Which of the following is not considered to be a liability?  A. Wages Payable B. Accounts Receivable C. Unearned Revenues D. Accounts Payable 143. Which of the following statements […]

External link to Question : 81. Accounts payable $ 40,000 Accounts receivable : 1239372

Question : 81. Accounts payable $ 40,000 Accounts receivable : 1239372

    81.  Accounts payable $  40,000 Accounts receivable 65,000 Accrued liabilities 7,000 Cash 30,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 110,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 30,000 Property, plant, and equipment 625,000 Prepaid expenses 2,000     Based on the above data, what is the quick ratio, rounded to one decimal point? A. 2.7B. 2.6C. 1.7D. 0.9   82. A company with working capital of $720,000 […]

External link to Question : 31) Appraisal costs include all of the following EXCEPT 31) ______ A) inspection. : 1196147

Question : 31) Appraisal costs include all of the following EXCEPT 31) ______ A) inspection. : 1196147

  31) Appraisal costs include all of the following EXCEPT 31) ______ A) inspection. B) process inspection. C) product testing. D) spoilage. E) none of the above 32) External failure costs include all of the following EXCEPT 32) ______ A) liability claims. B) transportation costs. C) scrap. D) customer support. E) none of the above 33) Which of the following DOES NOT pertain to control […]

External link to Question : 71. The cash flow total assets ratio calculated by: A. Dividing cash flows : 1256437

Question : 71. The cash flow total assets ratio calculated by: A. Dividing cash flows : 1256437

    71. The cash flow on total assets ratio is calculated by: A. Dividing cash flows from operations by average total assets.B. Dividing total cash flows by average total assets.C. Dividing average total assets by cash flows from investing activities.D. Dividing average total assets by total cash flows.E. Total cash flows divided by average total assets times 365.     72. A company had net cash flows from operations of $120,000, total […]

External link to Question : 97. When determining the uncollectible accounts expense in computing taxable income, : 1229754

Question : 97. When determining the uncollectible accounts expense in computing taxable income, : 1229754

    97. When determining the uncollectible accounts expense in computing taxable income, income tax regulations:  A. Require the allowance method. B. Require the direct write-off method. C. Require the income statement approach. D. Allow any method.     98. The aging of the accounts receivable approach to estimating uncollectible accounts does not:  A. Take into consideration the existing balance in the Allowance for Doubtful Accounts. B. Utilize a percentage of probable uncollectible […]

External link to Question : 31) The journal entry to record $200,000 of bonds that : 1232344

Question : 31) The journal entry to record $200,000 of bonds that : 1232344

  31) The journal entry to record $200,000 of bonds that were issued at 97 would be to: A) debit Cash, $194,000; debit Discount on bonds payable, $6,000; credit Bonds payable, $200,000. B) debit Cash, $194,000; credit Bonds payable, $194,000. C) debit Cash, $200,000; credit Bonds payable, $194,000; credit Premium on bonds payable, $6,000. D) debit Cash, $200,000; credit Bonds payable, $200,000. 32) The journal […]

External link to Question : 51. On June 1, $50,000 of treasury bonds were purchased between : 1239341

Question : 51. On June 1, $50,000 of treasury bonds were purchased between : 1239341

    51. On June 1, $50,000 of treasury bonds were purchased between interest dates.  The broker commission was $500.  The bonds pay interest at 12%, which is paid semiannually on January 1 and July 1.  What is the total cost to be debited to the Investment – Treasury Bonds account?  A. $50,000 B. $50,500 C. $49,500 D. $53,000   52. On June 1, $40,000 of treasury bonds were purchased between […]

External link to Question : 67. A change in an accounting estimate is: A. Reflected in past financial : 1258052

Question : 67. A change in an accounting estimate is: A. Reflected in past financial : 1258052

    67. A change in an accounting estimate is:  A. Reflected in past financial statements. B. Reflected in future financial statements and also requires modification of past statements. C. Reflected in current and future years’ financial statements,not in prior statements. D. Not allowed under current accounting rules. E. Considered an error in the financial statements. 68. When originally purchased, a vehicle costing $23,000 had an estimated useful life of 8 and […]

External link to Question : 71. The following production data were taken from the records of : 1246778

Question : 71. The following production data were taken from the records of : 1246778

    71. The following production data were taken from the records of the Finishing Department for June:   Inventory in process, 6-1 ( 30% completed) 4,000 units Completed units during June 71,000 units Ending inventory (60% complete) 7,000 units     Determine the number of conversion equivalent units of production in the June 30 Finishing Department inventory, assuming that the first-in, first-out method is used to cost […]

External link to Question : Multiple Choice Questions 31. Which of the following best describes the operating : 1228491

Question : Multiple Choice Questions 31. Which of the following best describes the operating : 1228491

  Multiple Choice Questions   31. Which of the following best describes the operating cycle?  A. It is the length of the manufacturing process. B. It is the time that elapses from the purchase of inventory on account to the sale of inventory on account. C. It is the time that elapses from the completion of the manufacturing process to the cash collection from sale of the manufactured goods. […]

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