External link to Question : 111. U.S. GAAP requires firms holdingtrading securities to report unrealized holding : 1230348

Question : 111. U.S. GAAP requires firms holdingtrading securities to report unrealized holding : 1230348

    111. U.S. GAAP requires firms holdingtrading securities to report unrealized holding gains and losses on the investments  A. in the income statement. B. as an adjustment to the Capital stock section of the balance sheet. C. in the footnotes to the financial statements. D. as an adjustment to the Treasury stock section of the balance sheet. E. none of the above   112. U.S. GAAP classifies securities that are neither […]

External link to Question : 43.The potential benefits lost by taking a specific action when : 1236826

Question : 43.The potential benefits lost by taking a specific action when : 1236826

  43.The potential benefits lost by taking a specific action when two or more alternative choices are available is known as a(n):    A.Alternative cost. B.Sunk cost. C.Out-of-pocket cost. D.Differential cost. E.Opportunity cost. 44.A cost that requires a future outlay of cash, and is relevant for current and future decision making, is a(n):    A.Out-of-pocket cost. B.Sunk cost. C.Opportunity cost. D.Operating cost. E.Uncontrollable cost. 45.A cost that […]

External link to Question : 11) Given the following data, what the cost of ending : 1212649

Question : 11) Given the following data, what the cost of ending : 1212649

11) Given the following data, what is the cost of ending inventory rounded to the nearest whole dollar using periodic FIFO?   Sales revenue 100 units at $10 per unit Beginning inventory 50 units at $8 per unit Purchases 90 units at $9 per unit   A) $400 B) $360 C) $890 D) $850   12) Given the following data, what is the gross margin […]

External link to Question : 71. U.S. GAAP requires the disclosure of the acquisition of a : 1245953

Question : 71. U.S. GAAP requires the disclosure of the acquisition of a : 1245953

    71. U.S. GAAP requires the disclosure of the acquisition of a building by assuming a mortgage obligation  A. as both a financing activity and an operating activity. B. as both an operating activity and an investing activity. C. as both an investing activity and a financing activity. D. in a separate schedule or note, but does not appear in the statement of cash flows as an operating activity, […]

External link to Question : 21) When comparing net cash provided by operating activities using : 1171190

Question : 21) When comparing net cash provided by operating activities using : 1171190

  21) When comparing net cash provided by operating activities using the indirect versus direct methods: A) net cash is higher using the indirect method. B) net cash is lower using indirect method. C) there is no difference between the two methods. D) depreciation expense is used in the direct method. 22) Rick Corporation’s Accounts Receivable increased by $25,000 during the year. What is the […]

External link to Question : 51. In determining cash flows from operations under the indirect method, : 1245809

Question : 51. In determining cash flows from operations under the indirect method, : 1245809

    51. In determining cash flows from operations under the indirect method, the adjustments to convert net income to cash flow from operations generally involve ____ the amount by which a revenue exceeds the related cash receipt for the period (such as equity method earnings exceeding dividends).  A. adding B. subtracting C. multiplying D. dividing E. cannot be determined from the information provided   52. In determining cash flows from operations […]

External link to Question : 51.During the year Link Company completed 1,300 units of product. : 1257061

Question : 51.During the year Link Company completed 1,300 units of product. : 1257061

    51.During the year Link Company completed 1,300 units of product. Ending inventory consisted of 400 units that were 50% complete. The total dollar cost associated with production of inventory was $90,000. The cost per equivalent whole unit would be which of the following?    A. $54.00   B. $69.22   C. $60.00   D. $83.82     52.Marion Company uses process costing. The following information was available for […]

External link to Question : 119.The difference between the cost of an asset and the : 1236835

Question : 119.The difference between the cost of an asset and the : 1236835

  119.The difference between the cost of an asset and the accumulated depreciation for that asset is called    A.Depreciation Expense. B.Unearned Depreciation. C.Prepaid Depreciation. D.Depreciation Value. E.Book Value. 120.A company purchased a new delivery van at a cost of $45,000 on July 1. The truck is estimated to have a useful life of 6 years and a salvage value of $3,000. The company uses the […]

External link to Question : 41. Which of the following does not support managerial decisions involving : 1239677

Question : 41. Which of the following does not support managerial decisions involving : 1239677

    41. Which of the following does not support managerial decisions involving accurate product costing? A. product constraintsB. emphasis of a product lineC. product mixD. product price   42. Pinacle Corp. budgeted $350,000 of overhead cost for 2012. Actual overhead costs for the year were $325,000. Pinacle’s plantwide allocation base, machine hours, was budgeted at 50,000 hours. Actual machine hours were 40,000. A total of 100,000 units was budgeted to be […]

External link to Question : 51) Which of the following statements NOT CORRECT? 51) ______ A) Absorption costing : 1196289

Question : 51) Which of the following statements NOT CORRECT? 51) ______ A) Absorption costing : 1196289

  51) Which of the following statements is NOT CORRECT?   51) ______ A) Absorption costing allocates fixed manufacturing overhead to actual units produced during the period. B) Absorption operating income does not exceed variable costing operating income if there is a net deferral of fixed manufacturing overhead. C) Income under absorption costing income is higher than income under variable costing when production units exceed […]

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