External link to Question : 71. An example of a transaction processing system is A. a software application : 1250967

Question : 71. An example of a transaction processing system is A. a software application : 1250967

    71. An example of a transaction processing system is  A. a software application that helps organizations complete EEO-1 reports. B. a software application that helps managers conduct employment interviews. C. a software application that helps organize the availability of employees with technical skills to meet changes in product demands. D. a software application that helps employees enroll in the company benefit plan. Transaction processing refers to computations and […]

External link to Question : 91.The standard quantity of materials for a product was 40 : 1169272

Question : 91.The standard quantity of materials for a product was 40 : 1169272

    91.The standard quantity of materials for a product was 40 pounds per unit at the standard price of $2.00 per pound. The actual price per pound of materials was $1.50, and the actual quantity used was 44 pounds. An analysis would indicate    A. a $20.00 favorable price variance.   B. a $8.00 favorable quantity variance.   C. a $6.00 unfavorable quantity variance.   D. a $8.00 unfavorable […]

External link to Question : 71. Grayson Bank agrees to lend the Trust Company $120,000 January : 1239268

Question : 71. Grayson Bank agrees to lend the Trust Company $120,000 January : 1239268

    71. Grayson Bank agrees to lend the Trust Company $120,000 on January 1.  Trust Company signs a $120,000, 8%, 9-month note. The entry made by Trust Company on January 1 to record the proceeds and issuance of the note is:   A. Interest Expense         9,600 Cash                       110,400      Notes Payable                  120,000 B. Cash                       120,000      Notes Payable                  120,000 C. Cash                       129,600     Interest Expense                    9,600     Notes […]

External link to Question : 131. Treasury stock or treasury shares shares a firm has previously : 1230394

Question : 131. Treasury stock or treasury shares shares a firm has previously : 1230394

    131. Treasury stock or treasury shares are shares a firm has previously issued and later reacquired.  Which of the following is/are not true?  A. Some firms believe that their own shares provide a good investment. B. Evidence supports the notion that share prices often increase after a firm announces a share repurchase program. C. Share repurchases reduce common shareholders’ equity and increase the proportion of debt in […]

External link to Question : 81. The production budgets used to prepare which of the following : 1251647

Question : 81. The production budgets used to prepare which of the following : 1251647

  81. The production budgets are used to prepare which of the following budgets?  A. Operating expenses B. Direct materials purchases, direct labor cost, factory overhead cost C. Sales in dollars D. Sales in units 82. Principal components of a master budget include which of the following?  A. Production budget B. Sales budget C. Capital expenditures budget D. All of the above 83. The first budget customarily prepared as part of an entity’s master budget is […]

External link to Question : 166.Osmond, Inc., reported the following income before income taxes, income : 1244205

Question : 166.Osmond, Inc., reported the following income before income taxes, income : 1244205

  166.Osmond, Inc., reported the following income before income taxes, income taxes expense, and net income for 20×7 and 20×8:     20×7  20×8  Income before income taxes $500,000 $500,000 Income taxes expense 200,000 200,000 Net income $300,000 $300,000   In 20×7, Osmond deducted a $40,000 item for income tax purposes that was not deducted for accounting purposes until 20×8. Osmond’s marginal tax rate is […]

External link to Question : 116. Craigmont uses the allowance method to account for uncollectible accounts. : 1257983

Question : 116. Craigmont uses the allowance method to account for uncollectible accounts. : 1257983

    116. Craigmont uses the allowance method to account for uncollectible accounts. Its year-end unadjusted trial balance shows Accounts Receivable of $104,500, allowance for doubtful accounts of $665 (credit) and sales of $925,000. If uncollectible accounts are estimated to be 0.5% of sales, what is the amount of the bad debts expense adjusting entry? A. $4,625B. $3,960C. $5,290D. $4,750E. $4,825     117. On July 9, Mifflin Company receives a $8,500, 90-day, […]

External link to Question : 77. Peter Nguyen and Loren Washington partners who share profits and : 1197642

Question : 77. Peter Nguyen and Loren Washington partners who share profits and : 1197642

  77. Peter Nguyen and Loren Washington are partners who share profits and losses in the ratio of 60:40, respectively. On December 31, 2013, they decide that Washington will sell one-half of her interest to Grace Dolores. At that time, the balances of the capital accounts are $75,000 for Nguyen and $45,000 for Washington. The partners agree that before the new partner is admitted, certain assets […]

External link to Question : 81. Carmelita Inc., has the following information available: Costs from : 1246752

Question : 81. Carmelita Inc., has the following information available: Costs from : 1246752

    81. Carmelita Inc., has the following information available:    Costs from Costs from   Beginning Inventory Current Period       Direct materials $2,500 $22,252 Conversion Costs   6,200 150,536       At the beginning of the period, there were 500 units in process that were 60 percent complete as to conversion costs and 100 percent complete as to direct materials costs. During […]

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