81. The following lots of a particular commodity were available for sale during the year:  Beginning inventory 5 units at $61 First purchase 15 units at $63 Second purchase 10 units at $74 Third purchase 10 units at $77     The firm uses the periodic system and there are 20 units of the commodity on hand at the end of the year. What […]

    87. When the amount of use of a fixed asset varies from year to year, the method of determining depreciation expense that best matches allocation of cost with revenue is   A. declining-balance B. straight-line C. units-of-production D. MACRS   88. A machine with a cost of $80,000 has an estimated residual value of $5,000 and an estimated life of 5 years or 15,000 hours. It is to be […]

  111. The journal entry a company records for the issuance of bonds when the contract rate is less than the market rate would be  A. debit Bonds Payable, credit Cash B. debit Cash and Discount on Bonds Payable, credit Bonds Payable C. debit Cash, credit Premium on Bonds Payable and Bonds Payable D. debit Cash, credit Bonds Payable 112. When the market rate of interest was 11%, Welch Corporation issued […]

    61. A business is considering a cash outlay of $300,000 for the purchase of land, which it could lease for $36,000 per year. If alternative investments are available which yield an 18% return, the opportunity cost of the purchase of the land is: A. $54,000B. $36,000C. $18,000D. $72,000   62. A business is considering a cash outlay of $400,000 for the purchase of land, which it could lease for $40,000 […]

  121.The purchase of treasury stock for cash will have which effect upon the following items?      A. Option A   B. Option B   C. Option C   D. Option D         122.Which of the following does not appear in a corporate income statement?    A. Gains and losses from treasury stock transactions.   B. Income tax expense.   C. The income or loss from a segment of the business […]

  Objective 10.A   1) The coefficient of determination is important in explaining variances in estimating equations. For a certain estimating equation, the unexplained variation was given as 22,506. The total variation was given as 51,150. What is the coefficient of determination for the equation? A) 0.34 B) 0.43 C) 0.56 D) 0.75 2) The Perize Corporation used regression analysis to predict the annual cost […]

  41.Present Value of 1  Periods3%4%5%6%7%8%9%10%12% 30.91510.88900.86380.83960.81630.79380.77220.75130.7118 40.88850.85480.82270.79210.76290.73500.70840.68300.6355 50.86260.82190.78350.74730.71300.68060.64990.62090.5674 60.83750.79030.74620.70500.66630.63020.59630.56450.5066 70.81310.75990.71070.66510.62270.58350.54700.51320.4523 80.78940.73070.67680.62740.58200.54030.50190.46650.4039 90.76640.70260.64460.59190.54390.50020.46040.42410.3606 100.74410.67560.61390.55840.50830.46320.42240.38550.3220 Future Value of 1  Periods3%4%5%6%7%8%9%10%12% 31.09271.12491.15761.19101.22501.25971.29501.33101.4049 41.12551.16991.21551.26251.31081.36051.41161.46411.5735 51.15931.21671.27631.33821.40261.46931.53861.61051.7623 61.19411.26531.34011.41851.50071.58691.67711.77161.9738 71.22991.31591.40711.50361.60581.71381.82801.94872.2107 81.26681.36861.47751.59381.71821.85091.99262.14362.4760 91.30481.42331.55131.68951.83851.99902.17192.35792.7731 101.34391.48021.62891.79081.96722.15892.36742.59373.1058 Present Value of an Annuity of 1  Periods3%4%5%6%7%8%9% 10%12% 32.82862.77512.72322.67302.62432.57712.53132.48692.4018 43.71713.62993.54603.46513.38723.31213.23973.16993.0373 54.57974.45184.32954.21244.10023.99273.88973.79083.6048 65.41725.24215.07574.91734.76654.62294.48594.35534.1114 76.23036.00215.78645.58245.38935.20645.03304.86844.5638 87.01976.73276.46326.20985.97135.74665.53485.33494.9676 97.78617.43537.10786.80176.51526.24695.99525.79505.3282 108.53028.11097.72177.36017.02366.71016.41776.14465.6502 Future Value of an Annuity of 1  Periods3%4%5%6%7%8%9%10%12% 33.09093.12163.15253.18363.21493.24643.27813.31003.3744 44.18364.24654.31014.37464.43994.50614.57314.64104.7793 55.30915.41635.52565.63715.75075.86665.98476.10516.3528 66.46846.63306.80196.97537.15337.33597.52337.71568.1152 77.66257.89838.14208.39388.65408.92289.20049.487210.089 88.89239.21429.54919.897510.26010.63711.02911.43612.300 910.15910.58311.02711.49111.97812.48813.02113.58014.776 1011.46412.00612.57813.18113.81614.48715.19315.93717.549 Clara is setting up a retirement […]

    61. Which of the following is not true of individual incentive pay programs?  A. Payments are not rolled into base pay. B. Performance is usually measured by physical output. C. Individual incentives have the potential to significantly increase performance. D. Individual incentive pay programs are quite common in organizations. Individual incentives are relatively rare because of certain drawbacks such as administrative problems, lack of physical output measures for […]

  Multiple Choice Questions   38.The advantages of corporations going public include all of the following except:    A. Professional management.   B. Transferability of ownership.   C. Limited shareholder liability.   D. Ability to remove assets.         39.Which of the following is not a characteristic of the corporate form of organization?    A. The owners of a corporation cannot lose more than the amount of their investment.   […]

  76. Wharfside Manufacturing estimates that its office employees will earn $50,000 next year and its factory employees will earn $260,000. The firm pays the following rates for workers’ compensation insurance: $0.37 per $100 of wages for the office employees and $4.00 per $100 of wages for the factory employees. Compute the estimated premiums for the office and factory employees.              […]