External link to Question : Multiple Choice Questions 137. Mark and Amanda Carter own an appliance store : 1229743

Question : Multiple Choice Questions 137. Mark and Amanda Carter own an appliance store : 1229743

  Multiple Choice Questions   137. Mark and Amanda Carter own an appliance store and a restaurant. The appliance store sells merchandise on a 12-month installment plan; the restaurant sells only for cash. (More than one of the following answers may be correct.)  A. The appliance store has a longer operating cycle than the restaurant. B. The appliance store probably uses a perpetual inventory system, whereas the restaurant […]

External link to Question : 107. Given the information below about David Corporation, what was : 1255699

Question : 107. Given the information below about David Corporation, what was : 1255699

    107. Given the information below about David Corporation, what was the amount of dividends the company paid in the current period?   a. $140,000. b. $0. c. $30,000. d. $20,000.     108. Liabilities are shown in which of the following statements? a. Income statement. b. Statement of cash flows. c. Balance sheet. d. Statement of stockholders’ equity.     109. Consider the […]

External link to Question : 81._____ a rater error in which a rater gives high : 1243254

Question : 81._____ a rater error in which a rater gives high : 1243254

    81._____ is a rater error in which a rater gives high ratings to all employees regardless of their performance.    A.Halo   B.Contrast   C.Central tendency   D.Leniency   E.Similar to me     82.A _____ rater error is one in which a rater gives middle or average ratings to all employees despite their performance.    A.horns   B.leniency   C.central tendency   D.strictness   […]

External link to Question : 21) After all the account balances have been extended to : 1212601

Question : 21) After all the account balances have been extended to : 1212601

21) After all the account balances have been extended to all columns  of the worksheet, the totals of the debit and credit columns for the income statement columns are $35,350 and $38,750, respectively. It can be concluded the company has a: A) net income of $3,400. B) net loss of $3,400. C) $74,100 net loss. D) $74,100 net income. 22) If the prepaid rent account […]

External link to Question : 71. On January 1, 2010, a corporation issued a $400,000, 12% : 1228436

Question : 71. On January 1, 2010, a corporation issued a $400,000, 12% : 1228436

  71. On January 1, 2010, a corporation issued a $400,000, 12% bond. The interest is payable semi-annually on June 30 and December 31. The issue price was $413,153 based on a 10% effective (market) interest rate. Assuming the effective-interest method of amortization is used, what is the book value of the bond liability as of June 30, 2010 (to the nearest dollar)?  A. $400,000 B. $416,495 C. $409,811 […]

External link to Question : 63.On November 1, 2013, Schumacher Company paid $1,200 in advance : 1254378

Question : 63.On November 1, 2013, Schumacher Company paid $1,200 in advance : 1254378

  63.On November 1, 2013, Schumacher Company paid $1,200 in advance for an insurance policy that covered the company for six months. Assuming that Schumacher recorded this purchase as an asset, the adjusting entry required on December 31, 2013 would include:    A. a debit to Prepaid Insurance for $1,200. B. a credit to Prepaid Insurance for $1,200. C. a credit to Insurance Expense for $400. D. a debit to […]

External link to Question : Multiple Choice Questions 1.The revenue recognition principle states that:A.Revenue should be : 1236110

Question : Multiple Choice Questions 1.The revenue recognition principle states that:A.Revenue should be : 1236110

Multiple Choice Questions   1.The revenue recognition principle states that: A.Revenue should be recognized in the period the cash is received. B.Revenue should be recognized in the period earned. C.Revenue should be recognized in the balance sheet. D.Revenue is a component of common stock. 2.The matching principle is the principle that states: A.All costs that are used to generate revenue are recorded in the period […]

External link to Question : Multiple Choice Questions 16.When merchandising businesses make purchases account from vendors, : 1199038

Question : Multiple Choice Questions 16.When merchandising businesses make purchases account from vendors, : 1199038

  Multiple Choice Questions  16.When merchandising businesses make purchases on account from vendors, this is known as:    A.Accounts receivable transactions   B.Accounts payable transactions   C.General ledger transactions   D.Income statement transactions   E.Recording beginning balances         17.The amount of money the business owes to suppliers or vendors is called:    A.Accounts payable   B.Accounts receivable   C.Contracts payable   D.Prepaid expense   […]

External link to Question : Multiple Choice Questions 22.Which of the following a factor involved in : 1254313

Question : Multiple Choice Questions 22.Which of the following a factor involved in : 1254313

  Multiple Choice Questions  22.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. 23.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 […]

External link to Question : 126.The following a partially completed lower section of a departmental : 1258701

Question : 126.The following a partially completed lower section of a departmental : 1258701

  126.The following is a partially completed lower section of a departmental expense allocation spreadsheet for Brickland. It reports the total amounts of direct and indirect expenses for the four departments. Purchasing department expenses are allocated to the operating departments on the basis of purchase orders. Maintenance department expenses are allocated based on square footage. Compute the amount of Maintenance department expense to be allocated […]

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