External link to Question : 71. A disadvantage of static budgets that they: A. start with a clean : 1251669

Question : 71. A disadvantage of static budgets that they: A. start with a clean : 1251669

  71. A disadvantage of static budgets is that they:  A. start with a clean slate B. cannot be used by service companies C. do not show possible changes in underlying activity levels D. show the expected results of a responsibility center for several levels of activity 72. A series of budgets for varying rates of activity is termed a(n):  A. flexible budget B. variable budget C. master budget D. activity budget 73. For January, sales […]

External link to Question : 130.A discount bonds payable best described as: A. An element of future : 1259427

Question : 130.A discount bonds payable best described as: A. An element of future : 1259427

    130.A discount on bonds payable is best described as:    A. An element of future interest expense.   B. A bonus paid by the bondholders to the issuing corporation because of the unusually high interest rate stated in the bonds.   C. The present value of the future interest payments of bond interest and principal.   D. An amount below par which the bondholders may be called upon […]

External link to Question : 121. In which of the following situations would the trial balance : 1225497

Question : 121. In which of the following situations would the trial balance : 1225497

  121. In which of the following situations would the trial balance not balance?  A. A $1,000 collection of an account receivable was erroneously posted as a debit to Accounts Receivable and a credit to Cash. B. The purchase of office supplies on account for $3,250 was erroneously recorded in the journal as $2,350 debit to Office Supplies and credit to Accounts Payable. C. A $50 cash receipt for […]

External link to Question : 59. The amount of the average investment for a proposed investment : 1227080

Question : 59. The amount of the average investment for a proposed investment : 1227080

    59. The amount of the average investment for a proposed investment of $60,000 in a fixed asset, with a useful life of four years, straight-line depreciation, no residual value, and an expected total net income of $21,600 for the 4 years, is: A. $10,800B. $21,600C. $ 5,400D. $30,000   60. The amount of the estimated average income for a proposed investment of $60,000 in a fixed asset, giving effect to […]

External link to Question : 61. Select the correct statement regarding flexible budgets. A. A flexible budget not : 1208295

Question : 61. Select the correct statement regarding flexible budgets. A. A flexible budget not : 1208295

  61. Select the correct statement regarding flexible budgets.  A. A flexible budget is not used for planning. B. A flexible budget is prepared for a single level of activity. C. A flexible budget is also known as the master budget. D. A flexible budget shows expected revenues and costs at a variety of activity levels. 62. Which of the following is a reason flexible budgets can be useful planning tools?  […]

External link to Question : 64. When a company reports both diluted earnings per share and : 1229417

Question : 64. When a company reports both diluted earnings per share and : 1229417

    64. When a company reports both diluted earnings per share and basic earnings per share:  A. Basic EPS would be greater than fully diluted EPS. B. Basic EPS would be less than fully diluted EPS. C. Basic EPS may be either greater or less than fully diluted EPS. D. Both should never be shown – only one would be reported.     65. A liquidating dividend:  A. Occurs when a […]

External link to Question : Objective 20.4 1) Which of the following statements  true of just-in-time : 1211962

Question : Objective 20.4 1) Which of the following statements  true of just-in-time : 1211962

  Objective 20.4   1) Which of the following statements  is true of just-in-time (JIT) purchasing? A) In JIT purchasing, the optimal safety-stock level is the quantity of safety stock that minimizes the sum of annual relevant stockout and carrying costs. B) JIT purchasing is guided solely by the EOQ model because that model emphasizes the tradeoff between relevant carrying and ordering costs. C) In […]

External link to Question : 51) What the 2012 budgeted costs for direct manufacturing labour? : 1186313

Question : 51) What the 2012 budgeted costs for direct manufacturing labour? : 1186313

  51) What are the 2012 budgeted costs for direct manufacturing labour? A) $62,000 B) $60,000 C) $61,000 D) $59,000 E) $63,000   Use the information below to answer the following question(s).   Marguerite Inc.. expects to sell 20,000 pool cues for $20.00 each. Direct materials costs are $2.00, direct manufacturing labour is $12.00, and manufacturing overhead is $0.80 per pool cue. Each pool cue […]

External link to Question : 222. Prepare a trial balance, listing the following accounts in proper : 1226943

Question : 222. Prepare a trial balance, listing the following accounts in proper : 1226943

  222. Prepare a trial balance, listing the following accounts in proper sequence.  The accounts (all normal balances) were taken from the ledger of Sophie Designs Co. on April 30, 2010.  Accounts Payable $ 4,100   Rent Expense $11,500 Accounts Receivable 3,450   Salary Expense 14,000 Cash 7,375   Fees Earned 54,100 Capital Stock 10,000   Supplies 3,125 Dividends 5,500   Supplies Expense 1,700 Equipment 24,500 […]

External link to Question : 138. A record in which the effects of transactions first recorded : 1257785

Question : 138. A record in which the effects of transactions first recorded : 1257785

  138. A record in which the effects of transactions are first recorded and from which transaction amounts are posted to the ledger is a(n): A. Account.B. Trial balance.C. Journal.D. T-account.E. Balance column account. 139. Smiles Entertainment had the following accounts and balances at December 31:   Account Debit   Credit Cash…………… $10,000   Accounts Receivable….. 2,000       Prepaid Insurance …… 2,400   Supplies…………. 1,000   Accounts Payable…….   $5,000 Common […]

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