External link to Question : 41.ServicePro provides two kinds of services. During the most recent : 1257162

Question : 41.ServicePro provides two kinds of services. During the most recent : 1257162

    41.ServicePro provides two kinds of services. During the most recent accounting period, the two service lines produced the following operating results:  If the company stops providing Service 2:    A. The company’s income will decrease by $1,500 per year.   B. The company’s income will increase by $1,500 per year.   C. The company’s income will decrease by $3,500 per year.   D. The company’s income will increase by […]

External link to Question : 11) A partnership admits a new partner. The new partner : 1171096

Question : 11) A partnership admits a new partner. The new partner : 1171096

  11) A partnership admits a new partner. The new partner invests $70,000 in the business and receives a credit of $90,000 to his capital account. The difference of $20,000 is called a(n): A) admission fee. B) partnership expense. C) bonus. D) illegal activity. 12) When a partner withdraws, the partnership may have an audit to adjust the assets to their: A) historic cost. B) […]

External link to Question : 5) Crystal Manufacturing Company provides glassware machines for major department : 1217102

Question : 5) Crystal Manufacturing Company provides glassware machines for major department : 1217102

  5) Crystal Manufacturing Company provides glassware machines for major department store retailers. The company has been investigating a new piece of machinery for its production department. The old equipment has a remaining life of five years and the new equipment has a value of $231,000 with a five-year life. The expected additional cash inflows are $70,000 per year. What is the payback period on […]

External link to Question : 61. In a recent research study, more effective communication of the : 1250904

Question : 61. In a recent research study, more effective communication of the : 1250904

    61. In a recent research study, more effective communication of the reasons for an organization’s pay-cuts had:  A. little effect on employees’ attitudes and behaviors. B. a negative effect on employee retention rates. C. a large effect on reducing employee theft rates. D. no effect on employees’ perceived equity of pay. Managers play the most crucial communication role because of their day-to-day interactions with their employees. Therefore, they […]

External link to Question : 11) Understanding the reasons for any difference between actual results : 1185940

Question : 11) Understanding the reasons for any difference between actual results : 1185940

  11) Understanding the reasons for any difference between actual results and budgeted amounts is an important aspect of A) extended value-chain analysis. B) forecasting for the next accounting period. C) kaizen management. D) control. E) management by perception.   12) Which of the following is a major benefit of utilizing a budgeting system? A) It always results in more profitable decisions. B) It is […]

External link to Question : 81. Double-entry accounting an accounting system: A. That records each transaction twice. That records : 1225493

Question : 81. Double-entry accounting an accounting system: A. That records each transaction twice. That records : 1225493

  81. Double-entry accounting is an accounting system:  A. That records each transaction twice.  That records the effects of transactions and other events in at least two accounts with equal debits and credits. C. In which each transaction affects and is recorded in two or more accounts but that could include two debits and no credits. D. That may only be used if T-accounts are used. E. That insures that […]

External link to Question : 48.The directors of a corporation: A. Are hired by the officers to : 1259469

Question : 48.The directors of a corporation: A. Are hired by the officers to : 1259469

    48.The directors of a corporation:    A. Are hired by the officers to run the business on a day-to-day basis.   B. May not own stock in the same corporation or be officers of the same corporation.   C. Are responsible for formulating corporate policy and for hiring corporate officers.   D. Are elected by the shareholders to run day-to-day operations.         49.Shares that have […]

External link to Question : 71. A bond that does not require a periodic cash payment, : 1245694

Question : 71. A bond that does not require a periodic cash payment, : 1245694

    71. A bond that does not require a periodic cash payment, but instead promises a single payment at maturity, is called a _____ bond.  A. sinking fund B. zero coupon C. debenture D. perpetual E. convertible   72. Debentures that the holder (lender) can exchange, possible after some specific period of time has elapsed, for a specific number of shares of common stock or, perhaps, preferred stock of the borrower […]

External link to Question : 51. Wilson Enterprises applies overhead based direct labor cost. The company : 1197762

Question : 51. Wilson Enterprises applies overhead based direct labor cost. The company : 1197762

    51. Wilson Enterprises applies overhead based on direct labor cost. The company estimates that their overhead for the year will be $240,000, and direct labor cost to be $300,000. Actual direct labor cost for Martinez Manufacturing was $280,000. The journal entry to record manufacturing overhead would include a:  A. Debit to Work in Process Inventory for $240,000. B. Credit to Manufacturing Overhead Applied for $350,000. C. Credit […]

External link to Question : 81. Louise Company reported the following income statement information for Year : 1225841

Question : 81. Louise Company reported the following income statement information for Year : 1225841

  81. Louise Company reported the following income statement information for Year 1 and Year 2:    The beginning inventory balance for Year 1 is correct. The ending inventory balance for Year 2 is also correct. However, the ending inventory figure for Year 1 was overstated by $20,000. Given this information, the correct gross profit figures for Year 1 and Year 2 would be:  A. $129,000 for […]

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