External link to Question : 101. The tendency of the rate earned stockholders’ equity to vary : 1239374

Question : 101. The tendency of the rate earned stockholders’ equity to vary : 1239374

    101. The tendency of the rate earned on stockholders’ equity to vary disproportionately from the rate earned on total assets is sometimes referred to as  A. leverageB. solvencyC. yieldD. quick assets   102. The balance sheets at the end of each of the first two years of operations indicate the following:    2012 2011 Total current assets $600,000 $560,000 Total investments 60,000 40,000 Total property, plant, and equipment 900,000 […]

External link to Question : 119.The matching rule relates to credit losses by stating that : 1244431

Question : 119.The matching rule relates to credit losses by stating that : 1244431

119.The matching rule relates to credit losses by stating that Uncollectible Accounts Expense should be recorded   a. for an exact amount. b. in the period of the loss. c. in the period of the sale. d. in the same period as allowed for tax purposes.       120.Which of the following account names should not be used in modern practice?   a. Allowance […]

External link to Question : 51. ServicePro provides two kinds of services. During the most recent : 1208244

Question : 51. ServicePro provides two kinds of services. During the most recent : 1208244

  51. ServicePro provides two kinds of services. During the most recent accounting period, the two service lines produced the following operating results:    If the company stops providing Service 2:  A. The company’s income will increase by $1,500 per year. B. The company’s income will decrease by $1,500 per year. C. The company’s income will increase by $3,500 per year. D. The company’s income will decrease by $3,500 per […]

External link to Question : Multiple Choice Questions 29.How does the going concern assumption affect accounting : 1254542

Question : Multiple Choice Questions 29.How does the going concern assumption affect accounting : 1254542

  Multiple Choice Questions  29.How does the going concern assumption affect accounting for notes payable?    A. It dictates that interest expense be accrued at the end of the accounting period. B. It dictates that notes payable be reported at their face value. C. It dictates that notes payable be reported at their net realizable value. D. It dictates that interest expense be paid when the note matures. 30.Receivables are […]

External link to Question : 131. The direct labor and overhead costs of providing services to : 1251539

Question : 131. The direct labor and overhead costs of providing services to : 1251539

    131. The direct labor and overhead costs of providing services to clients are accumulated in: A. finished services expenseB. work in processC. administrative salaries expenseD. overhead   132. When a job is completed in a service organization, the job costs are transferred to the A. work in process account.B. cost of services account.C. finished goods account.D. cost of goods sold account.   133. The following budget data are available for Happy Company:  Estimated direct labor hours12,000 […]

External link to Question : 56.If a company has advance ticket sales totaling $2,000,000 for : 1236385

Question : 56.If a company has advance ticket sales totaling $2,000,000 for : 1236385

  56.If a company has advance ticket sales totaling $2,000,000 for the upcoming football season, the receipt of cash would be journalized as:    A.Debit Sales, credit Unearned Revenue. B.Debit Unearned Revenue, credit Sales. C.Debit Cash, credit Unearned Revenue. D.Debit Unearned Revenue, credit Cash. E.Debit Cash, credit Revenue. 57.A contingent liability is:    A.Always of a specific amount. B.A potential obligation that depends on a future event […]

External link to Question : 65.A corporation that uses a strategy of hedging all contracts : 1259551

Question : 65.A corporation that uses a strategy of hedging all contracts : 1259551

    65.A corporation that uses a strategy of hedging all contracts specifying a foreign currency (i.e. foreign accounts receivable and foreign accounts payable):    A. Will always be better off than if the contracts were not hedged.   B. Recognizes a net loss if the foreign exchange rate increases.   C. Avoids net losses from fluctuations in foreign exchange rates.   D. Recognizes a net gain if the foreign […]

External link to Question : 31. Select the incorrect statement regarding the human factor in the : 1208266

Question : 31. Select the incorrect statement regarding the human factor in the : 1208266

  31. Select the incorrect statement regarding the human factor in the budgeting process.  A. There is a tendency for people to be uncomfortable with budgets. B. The evaluation feature of budget systems is frightening for many people. C. Budgets force employees to follow the organization’s plan. D. Proper handling of human relations is essential to the establishment of an effective budget system. 32. The budgeting technique that provides for employee […]

External link to Question : 11.Kemp Clothing has cost of goods sold of $14,000 with : 1253662

Question : 11.Kemp Clothing has cost of goods sold of $14,000 with : 1253662

  11.Kemp Clothing has cost of goods sold of $14,000 with beginning and ending inventories of $4,000 and $2,000, respectively. Purchases during the period are: a.$ 8,000. b.$ 9,000. c.$10,000. d.$11,000. e.$12,000. 12.Which one of the following expenditures should not be included in the cost of inventory? a.Purchase cost b.Transportation-in c.Packaging cost d.Capitalized equipment cost 13.Mars Hardware sold 20 drills for $8 each. Each drill […]

External link to Question : 75.The following company information available. The direct materials quantity variance : 1258694

Question : 75.The following company information available. The direct materials quantity variance : 1258694

  75.The following company information is available. The direct materials quantity variance is:  Direct materials used for production36,000 gallons Standard quantity for units produced34,400 gallons Standard cost per gallon of direct material$6.00 Actual cost per gallon of direct material$6.10    A.$10,000 unfavorable.   B.$13,200 unfavorable. C.$9,600 unfavorable. D.$10,000 favorable. E.$13,200 favorable. 76.Summerlin Company budgeted 4,000 pounds of material costing $5.00 per pound to produce 2,000 […]

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