External link to Question : 36. In 2004, the Supreme Court ruled that race could : 1234381

Question : 36. In 2004, the Supreme Court ruled that race could : 1234381

  36. In 2004, the Supreme Court ruled that race could be a factor in university admissions, but cannot be an overriding factor in admission decisions. The two cases from which the court drew these conclusions were: A) Smith v. Jackson and Watson v. Fort Worth Bank & Trust. B) Vinson v. Meritor and Harris v. Forklift. C) Harris v. Forklift and Gratz v. Bollinger. […]

External link to Question : 101. In applying the lower of cost or market method to : 1225843

Question : 101. In applying the lower of cost or market method to : 1225843

  101. In applying the lower of cost or market method to inventory valuation, market is defined as:  A. Historical cost. B. Current replacement cost. C. Current sales price. D. FIFO. E. LIFO. 102. Generally accepted accounting principles require that the inventory of a company be reported at:  A. Market value. B. Historical cost. C. Lower of cost or market. D. Replacement cost. E. Retail value. 103. The conservatism constraint:  A. Prescribes that when multiple estimates of amounts to […]

External link to Question : 111. The budget that summarizes future plans for the acquisition of : 1251650

Question : 111. The budget that summarizes future plans for the acquisition of : 1251650

  111. The budget that summarizes future plans for the acquisition of fixed assets is the:  A. direct materials purchases budget B. production budget C. sales budget D. capital expenditures budget 112. Below is budgeted production and sales information for Bluebird Company for the month of December:   Product XXXProduct ZZZ Estimated beginning inventory30,000 units18,000 units Desired ending inventory32,000 units15,000 units Anticipated sales520,000 units460,000 units The unit selling price for product […]

External link to Question : 31) There two records of a business’s cash: A) the cash : 1230135

Question : 31) There two records of a business’s cash: A) the cash : 1230135

  31) There are two records of a business’s cash: A) the cash account in the general ledger and the petty cash box. B) the cash account in the general ledger and the journal entries from the bank reconciliation. C) the bank statement and the cash account in the general ledger. D) the bank statement and the cash in petty cash. 32) Which of the […]

External link to Question : 37.Which of the following accounts will not normally have a : 1169381

Question : 37.Which of the following accounts will not normally have a : 1169381

    37.Which of the following accounts will not normally have a zero balance after the closing entries have been posted?    A. Income Summary   B. Fees Income   C. The owner’s capital account   D. Rent Expense         38.One purpose of closing entries is to    A. transfer the results of operations to owner’s equity.   B. reduce the owner’s capital account balance to zero so that the […]

External link to Question : 135. Decorative Concrete produces a concrete overlay for residential and commercial : 1236233

Question : 135. Decorative Concrete produces a concrete overlay for residential and commercial : 1236233

  135. Decorative Concrete produces a concrete overlay for residential and commercial concrete flooring. Customers have complained that one of the products results in excessive cracking. The likelihood the company will incur a loss on this product is probable and the amount of the loss is estimated to be somewhere between $1.5 and $3 million. 1. Should this contingent liability be reported, disclosed in a note […]

External link to Question : 61) Central Services has requested your services in determining the book : 1196069

Question : 61) Central Services has requested your services in determining the book : 1196069

  61) Central Services has requested your services in determining the book values of the following assets, respectively.   HistoricalAccumulated     Costs         Amortization Auto$ 20,000$ 15,000 Machinery 150,000 95,000   General repairs and maintenance for the automobile amounted to $4,000. Machinery maintenance included $2,000 for general upkeep.   What are the book values for Auto and Machinery, respectively? 61) ______ A) $5,000; $55,000 B) $20,000; […]

External link to Question : 158. The comparative balance sheet of Colson Company, for 2011 and : 1226774

Question : 158. The comparative balance sheet of Colson Company, for 2011 and : 1226774

  158. The comparative balance sheet of Colson Company, for 2011 and the preceding year ended December 31, 2010 appears below in condensed form:    Year Year   2011 2010       Cash $  45,000  $  53,500  Accounts receivable (net) 51,300  58,000  Inventories 147,200  135,000  Investments 0  60,000  Equipment 493,000  375,000  Accumulated depreciation-equipment (113,700) (128,000)   $622,800  $553,500  Accounts payable $  61,500  $  42,600  Bonds payable, due 2014 0  […]

External link to Question : 11) A major reason for choosing ________ utilization over ________, : 1186361

Question : 11) A major reason for choosing ________ utilization over ________, : 1186361

  11) A major reason for choosing ________ utilization over ________, is the difficulty in forecasting. A) theoretical capacity; master-budget B) practical capacity; master-budget C) normal capacity utilization; master-budget D) master-budget; theoretical capacity E) master-budget; normal capacity utilization   12) A manufacturing firm is able to produce 2,000 pairs of shoes per hour, at maximum efficiency. There are three eight-hour shifts each day. Production is […]

External link to Question : 106.Uniform Supply accepted a $4,800, 90-day, 10% note from Tracy : 1237027

Question : 106.Uniform Supply accepted a $4,800, 90-day, 10% note from Tracy : 1237027

  106.Uniform Supply accepted a $4,800, 90-day, 10% note from Tracy Janitorial on October 17. What entry should Uniform Supply make on January 15 of the next year when the note is paid?    A.Debit Notes Receivable $4,800; debit Interest Receivable $120; credit Sales $4,920. B.Debit Cash $4,920; credit Notes Receivable $4,920. C.Debit Cash $4,920; credit Interest Revenue $100; credit Interest Receivable $20; credit Notes Receivable […]

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