External link to Question : Essay Questions 106. Accounting terminology Listed below nine technical accounting terms introduced : 1229733

Question : Essay Questions 106. Accounting terminology Listed below nine technical accounting terms introduced : 1229733

  Essay Questions   106. Accounting terminology Listed below are nine technical accounting terms introduced in this chapter: Gross profit Gross profit rate General ledger Cost of goods sold Physical inventory Subsidiary ledger Perpetual inventory system Periodic inventory system Inventory shrinkage Each of the following statements may (or may not) describe one of these technical terms. In the space provided below each statement, indicate the accounting […]

External link to Question : 51. A major assumption of using job experiences for development that: A. development : 1251060

Question : 51. A major assumption of using job experiences for development that: A. development : 1251060

    51. A major assumption of using job experiences for development is that:  A. development occurs best when job demands involve obstacles and creating change. B. development occurs only through promotions. C. development occurs best when employees experience high levels of stress in their jobs. D. development occurs when there is a mismatch between the employees’ skills and the skills required for the job. Job experiences refers to the […]

External link to Question : 114. When bonds retired before their maturity date: a.GAAP has : 1256012

Question : 114. When bonds retired before their maturity date: a.GAAP has : 1256012

    114. When bonds are retired before their maturity date: a.GAAP has been violated. b.The issuing company will always report a non-operating gain. c.The issuing company will always report a non-operating loss. d.The issuing company will report a non-operating gain or loss.     115. The Viper retires a $40 million bond issue when the carrying value of the bonds is $42 million, but […]

External link to Question : 51. Which of the following below generally the most useful in : 1224859

Question : 51. Which of the following below generally the most useful in : 1224859

    51. Which of the following below generally is the most useful in analyzing companies of different sizes? A. Comparative statementsB. Common-size financial statementsC. Price-level accountingD. Audit report   52. The percent of fixed assets to total assets is an example of: A. vertical analysis.B. solvency analysis.C. profitability analysis.D. horizontal analysis.   53. What type of analysis is indicated by the following?        Increase (Decrease)   2012 2011 Amount Percent Current assets $   450,000 $   500,000 ($  […]

External link to Question : 61. A variant of fiscal-year budgeting whereby a twelve-month projection into : 1246893

Question : 61. A variant of fiscal-year budgeting whereby a twelve-month projection into : 1246893

  61. A variant of fiscal-year budgeting whereby a twelve-month projection into the future is maintained at all times is termed:  A. flexible budgeting B. continuous budgeting C. zero-based budgeting D. master budgeting 62. Scott Manufacturing Co.’s static budget at 10,000 units of production includes $40,000 for direct labor and $4,000 for electric power. Total fixed costs are $23,000. At 12,000 units of production, a flexible budget would show:  A. variable costs […]

External link to Question : 71. It beneficial for two related companies to use the cost : 1239619

Question : 71. It beneficial for two related companies to use the cost : 1239619

    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 advertising campaigns       Maintenance    ____  2. Number of computers in […]

External link to Question : 83. The journal entry to record the cost of direct materials : 1229627

Question : 83. The journal entry to record the cost of direct materials : 1229627

    83. The journal entry to record the cost of direct materials used in June includes:  A. A debit to Work-in-Process Inventory of $12,220. B. A credit to Materials Price Variance of $520. C. A debit to Materials Price Variance of $520. D. A credit to Direct Materials Inventory of $12,250.     84. With respect to materials costs, the supervisor of the Production Department should be held responsible for:  […]

External link to Question : 51) Refer to Table 11-4. The adjusting entry necessary at : 1212499

Question : 51) Refer to Table 11-4. The adjusting entry necessary at : 1212499

    51) Refer to Table 11-4. The adjusting entry necessary at December 31, 2013, would be: A) Interest Expense 1,319.18             Interest Payable   1,319.18   B) Note Payable 1,319.18             Interest Payable   1,319.18   C) Interest Expense 1,319.18             Note Payable   1,319.18   D) no adjusting entry is necessary 52) Refer to Table 11-4. The entry on the […]

External link to Question : 51. The U.S. government will pay Simpson Company $2,500,000 each six : 1245737

Question : 51. The U.S. government will pay Simpson Company $2,500,000 each six : 1245737

    51. The U.S. government will pay Simpson Company $2,500,000 each six months, equal to 2.5% of the $100 million face amount of the treasury bonds (5% annual coupon rate, paid in two installments each year), and will repay the $100 million at the end of five years. At the time Simpson Company purchases the bonds, the market prices these bonds to yield Simpson Company […]

External link to Question : 61. On May 1, 2011, Stanton Company purchased $50,000 of Harris : 1251453

Question : 61. On May 1, 2011, Stanton Company purchased $50,000 of Harris : 1251453

  61. On May 1, 2011, Stanton Company purchased $50,000 of Harris Company’s 12% bonds at 100 plus accrued interest of $2,000. On June 30, 2011, Stanton received its first semiannual interest.  On February 1, 2012, Stanton sold $40,000 of the bonds at 103 plus accrued interest. The journal entry Stanton will record on February 1, 2012, will include:  A. a credit to Interest Revenue for $1,200. […]

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