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External link to Question : 123.Most preferred stocks callable preferred stocks, which means that the : 1244164
Accounting

Question : 123.Most preferred stocks callable preferred stocks, which means that the : 1244164

123.Most preferred stocks are callable preferred stocks, which means that the callable feature may be exercised by   a. either the issuing corporation or a preferred stockholder. b. the state that issued the corporation’s charter. c. the issuing corporation. d. a preferred stockholder.       124.Dividends in arrears are dividends on   a. noncumulative preferred stock that have not been declared for some specified […]

External link to Question : 6.The following the balance sheet of Able Corporation immediately prior : 1253574
Accounting

Question : 6.The following the balance sheet of Able Corporation immediately prior : 1253574

  6.The following is the balance sheet of Able Corporation immediately prior to deciding how to finance the purchase of a $300 addition to its building. Able Corporation Balance Sheet December 31, 2010 Assets Cash$   300 Accounts receivable260 Building390 Land    370 Total assets$1,320 Liabilities and Shareholders’ Equity Accounts payable$   190 Long-term bonds payable              620 Contributed capital  340 Retained earnings    170 Total liabilities &shareholders’ equity              $1,320 […]

External link to Question : 75. Wright, Bell, and Edison partners and share income in a : 1257550
Accounting

Question : 75. Wright, Bell, and Edison partners and share income in a : 1257550

  75. Wright, Bell, and Edison are partners and share income in a 2:5:3 ratio. The partnership’s capital balances are as follows: Wright, $33,000, Bell $27,000 and Edison $40,000. Edison decides to withdraw from the partnership, and the partners agree not to revalue the assets upon Edison’s retirement.  The journal entry to record Edison’s June 1 withdrawal from the partnership if Edison is paid $40,000 for […]

External link to Question : 114.A journal entry which records revenue must include: A. A debit to : 1259738
Accounting

Question : 114.A journal entry which records revenue must include: A. A debit to : 1259738

    114.A journal entry which records revenue must include:    A. A debit to Cash.   B. A credit to a revenue account.   C. A credit to the owners’ equity account.   D. A debit to the owners’ equity account.         115.A journal entry to record revenue could include each of the following, except:    A. A credit to a revenue account.   B. A credit to the […]

External link to Question : 87) The wages of a plant supervisor would be classified : 1217072
Accounting

Question : 87) The wages of a plant supervisor would be classified : 1217072

  87) The wages of a plant supervisor would be classified as a period cost. 88) For external reporting, GAAP requires that costs be classified as either variable or fixed. 89) Depreciation can be classified as either an inventoriable cost or a period cost, depending on what is being depreciated. 90) Depreciation on a factory can be classified as a period cost. 91) Springfield Manufacturing […]

External link to Question : 21. The provisions of U.S. GAAP require firms to classify marketable : 1230363
Accounting

Question : 21. The provisions of U.S. GAAP require firms to classify marketable : 1230363

    21. The provisions of U.S. GAAP require firms to classify marketable securities into which categories?  A. Debt securities held to maturity for which a firm has both the intent and the ability to hold to maturity—shown on the balance sheet at an amount based on acquisition cost, but subject to impairment. B. Debt and equity securities held as trading securities shown on the balance sheet at […]

External link to Question : 101. The following unit data were assembled for the assembly process : 1226865
Accounting

Question : 101. The following unit data were assembled for the assembly process : 1226865

    101. The following unit data were assembled for the assembly process of the Super Co. for the month of June. Direct materials are added at the beginning of the process. Conversion costs are added uniformly over the production process. The company uses the FIFO process.      Units Beginning work in process (60% complete)   5,000 Units started in September   51,000 Ending work […]

External link to Question : 111. The rate of earnings 10% and the cash to be : 1239647
Accounting

Question : 111. The rate of earnings 10% and the cash to be : 1239647

    111. The rate of earnings is 10% and the cash to be received in two year is $10,000. Determine the present value amount, using the following partial table of present value of $1 at compound interest:  Year 6% 10% 12% 1 .943 .909 .893 2 .890 .826 .797 3 .840 .751 .712 4 .792 .683 .636          A. $8,900B. $9,090C. $7,970D. $8,260   112. Heather Company […]

External link to Question : 71. Which of the following types of interviews has the highest : 1251015
Accounting

Question : 71. Which of the following types of interviews has the highest : 1251015

    71. Which of the following types of interviews has the highest validity in terms of making effective screening decisions?  A. Focus groups B. Highly structured interviews C. Questionnaires D. Highly unstructured interviews Applicants respond less positively to highly structured interviews, and yet this is precisely the type of interview that has the highest validity in terms of making effective screening decisions.     72. Which of the following tends […]

External link to Question : 71.A company considering the purchase of a new piece of : 1258751
Accounting

Question : 71.A company considering the purchase of a new piece of : 1258751

  71.A company is considering the purchase of a new piece of equipment for $90,000. Predicted annual cash inflows from this investment are $36,000 (year 1), $30,000 (year 2), $18,000 (year 3), $12,000 (year 4) and $6,000 (year 5). The payback period is:     A. 4.50 years. B. 4.25 years. C. 3.50 years. D. 3.00 years. E. 2.50 years. 72.A disadvantage of using the payback period to compare investment alternatives […]

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July 1, 2023
    

 

11. Which of the following is a disadvantage of lean production and just-in-time (JIT) manufacturing systems? 
A. Increased customer delivery time
B. Increased product defects
C. Decreased flexibility of manufacturing facilities
D. Increased reliance on fewer suppliers

12. Which of the following statements is true regarding the lean production and just-in-time (JIT) manufacturing systems? 
A. Customers are often less satisfied with the purchased product.
B. The number of product defects often increases.
C. The number of suppliers the company can purchase raw materials from, often increases.
D. The factory is often restructured where dissimilar machines are grouped together.

13. Which of the following is a characteristic of a lean production and just-in-time (JIT) manufacturing environment but not of a traditional manufacturing environment? 
A. Increased inventory levels
B. Increased product defects
C. Increased reliance on a select number of suppliers
D. Increased production time

14. Which of the following is a effect of using a traditional production environment but not of a lean production and just-in-time (JIT) manufacturing environment? 
A. Increase in the need for highly skilled labor.
B. Increase in the need for highly reliable suppliers.
C. Reduction in the motivation of the work force.
D. Reduction in the processing time.

15. Which of the following is a risk that would more likely be seen in a lean production and just-in-time (JIT) manufacturing environment than in a traditional production environment? 
A. Reduced customer satisfaction due to product quality.
B. Reduced raw material supply bringing the production process to a halt.
C. Increased inventory storage costs.
D. Increased production time resulting in lost sales.

16. Lean production is focused on eliminating waste associated with all of the following except: 
A. moving products farther than required.
B. down time caused by people waiting for work to do.
C. providing excessive customer service.
D. over-processing a product.

17. Which of the following statements is true regarding manufacturing costs? 
A. They will be appear on the income statement as the product is made.
B. They will not appear on the income statement or the balance sheet until the product is completed.
C. They will appear on the balance sheet as an inventory cost until the product is sold.
D. They will appear on the balance sheet as an inventory cost after the product is sold.

18. Which of the following statements is false regarding nonmanufacturing costs? 
A. They are incurred outside the factory.
B. They include selling and administrative costs.
C. They are not directly incurred to make a product.
D. They include indirect materials and indirect labor costs.

19. Which of the following types of employees would most likely have their wage be classified as direct labor? 
A. Factory maintenance worker
B. Factory supervisor
C. Managerial accountant
D. Assembly-line factory worker

20. Which of the following types of employees would most likely have their wage be classified as indirect labor? 
A. Factory supervisor
B. Managerial accountant
C. Salesperson
D. Machine operator

 

 

default image
July 1, 2023
    

 

11. Which of the following is a disadvantage of lean production and just-in-time (JIT) manufacturing systems? 
A. Increased customer delivery time
B. Increased product defects
C. Decreased flexibility of manufacturing facilities
D. Increased reliance on fewer suppliers

12. Which of the following statements is true regarding the lean production and just-in-time (JIT) manufacturing systems? 
A. Customers are often less satisfied with the purchased product.
B. The number of product defects often increases.
C. The number of suppliers the company can purchase raw materials from, often increases.
D. The factory is often restructured where dissimilar machines are grouped together.

13. Which of the following is a characteristic of a lean production and just-in-time (JIT) manufacturing environment but not of a traditional manufacturing environment? 
A. Increased inventory levels
B. Increased product defects
C. Increased reliance on a select number of suppliers
D. Increased production time

14. Which of the following is a effect of using a traditional production environment but not of a lean production and just-in-time (JIT) manufacturing environment? 
A. Increase in the need for highly skilled labor.
B. Increase in the need for highly reliable suppliers.
C. Reduction in the motivation of the work force.
D. Reduction in the processing time.

15. Which of the following is a risk that would more likely be seen in a lean production and just-in-time (JIT) manufacturing environment than in a traditional production environment? 
A. Reduced customer satisfaction due to product quality.
B. Reduced raw material supply bringing the production process to a halt.
C. Increased inventory storage costs.
D. Increased production time resulting in lost sales.

16. Lean production is focused on eliminating waste associated with all of the following except: 
A. moving products farther than required.
B. down time caused by people waiting for work to do.
C. providing excessive customer service.
D. over-processing a product.

17. Which of the following statements is true regarding manufacturing costs? 
A. They will be appear on the income statement as the product is made.
B. They will not appear on the income statement or the balance sheet until the product is completed.
C. They will appear on the balance sheet as an inventory cost until the product is sold.
D. They will appear on the balance sheet as an inventory cost after the product is sold.

18. Which of the following statements is false regarding nonmanufacturing costs? 
A. They are incurred outside the factory.
B. They include selling and administrative costs.
C. They are not directly incurred to make a product.
D. They include indirect materials and indirect labor costs.

19. Which of the following types of employees would most likely have their wage be classified as direct labor? 
A. Factory maintenance worker
B. Factory supervisor
C. Managerial accountant
D. Assembly-line factory worker

20. Which of the following types of employees would most likely have their wage be classified as indirect labor? 
A. Factory supervisor
B. Managerial accountant
C. Salesperson
D. Machine operator

 

 

default image
July 1, 2023
    

 

11. Which of the following is a disadvantage of lean production and just-in-time (JIT) manufacturing systems? 
A. Increased customer delivery time
B. Increased product defects
C. Decreased flexibility of manufacturing facilities
D. Increased reliance on fewer suppliers

12. Which of the following statements is true regarding the lean production and just-in-time (JIT) manufacturing systems? 
A. Customers are often less satisfied with the purchased product.
B. The number of product defects often increases.
C. The number of suppliers the company can purchase raw materials from, often increases.
D. The factory is often restructured where dissimilar machines are grouped together.

13. Which of the following is a characteristic of a lean production and just-in-time (JIT) manufacturing environment but not of a traditional manufacturing environment? 
A. Increased inventory levels
B. Increased product defects
C. Increased reliance on a select number of suppliers
D. Increased production time

14. Which of the following is a effect of using a traditional production environment but not of a lean production and just-in-time (JIT) manufacturing environment? 
A. Increase in the need for highly skilled labor.
B. Increase in the need for highly reliable suppliers.
C. Reduction in the motivation of the work force.
D. Reduction in the processing time.

15. Which of the following is a risk that would more likely be seen in a lean production and just-in-time (JIT) manufacturing environment than in a traditional production environment? 
A. Reduced customer satisfaction due to product quality.
B. Reduced raw material supply bringing the production process to a halt.
C. Increased inventory storage costs.
D. Increased production time resulting in lost sales.

16. Lean production is focused on eliminating waste associated with all of the following except: 
A. moving products farther than required.
B. down time caused by people waiting for work to do.
C. providing excessive customer service.
D. over-processing a product.

17. Which of the following statements is true regarding manufacturing costs? 
A. They will be appear on the income statement as the product is made.
B. They will not appear on the income statement or the balance sheet until the product is completed.
C. They will appear on the balance sheet as an inventory cost until the product is sold.
D. They will appear on the balance sheet as an inventory cost after the product is sold.

18. Which of the following statements is false regarding nonmanufacturing costs? 
A. They are incurred outside the factory.
B. They include selling and administrative costs.
C. They are not directly incurred to make a product.
D. They include indirect materials and indirect labor costs.

19. Which of the following types of employees would most likely have their wage be classified as direct labor? 
A. Factory maintenance worker
B. Factory supervisor
C. Managerial accountant
D. Assembly-line factory worker

20. Which of the following types of employees would most likely have their wage be classified as indirect labor? 
A. Factory supervisor
B. Managerial accountant
C. Salesperson
D. Machine operator

 

 

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