External link to Question : 91. The inventory valuation method that identifies each item in ending : 1225842

Question : 91. The inventory valuation method that identifies each item in ending : 1225842

  91. The inventory valuation method that identifies each item in ending inventory with a specific purchase and invoice is the:  A. Weighted average inventory method. B. First-in, first-out method. C. Last-in, first-out method. D. Specific identification method. E. Retail inventory method. 92. A company had the following purchases during the current year:    On December 31, there were 26 units remaining in ending inventory. These 26 units consisted of 2 from […]

External link to Question : 98.Refer to the information above. If Amelia did not pay : 1259451

Question : 98.Refer to the information above. If Amelia did not pay : 1259451

    98.Refer to the information above. If Amelia did not pay a dividend for the last two years, but declared a $250,000 dividend this year, how much will the common stockholders receive?    A. $152,800.   B. $250,000.   C. $97,200.   D. $217,600.       99.Refer to the information above. If Amelia decided to purchase 20,000 shares of its common stock to be used for future stock […]

External link to Question : 126. If variable selling and administrative expenses totaled $120,000 for the : 1226955

Question : 126. If variable selling and administrative expenses totaled $120,000 for the : 1226955

    126. If variable selling and administrative expenses totaled $120,000 for the year (80,000 units at $1.50 each) and the planned variable selling and administrative expenses totaled $120,900 (78,000 units at $1.55 each), the effect of the unit cost factor on the change in variable selling and administrative expenses is:  A. $900 decrease B. $3,100 decrease C. $4,000 decrease D. $3,100 increase   127. If sales totaled $800,000 for the […]

External link to Question : 31) Unit sales of Product 1 currently 20,000, while unit : 1196257

Question : 31) Unit sales of Product 1 currently 20,000, while unit : 1196257

  31) Unit sales of Product 1 are currently 20,000, while unit sales of Product 2 are double those of Product 1. What will the company’s sales forecast be assuming sales of Product 1 increase by 10 percent and those of Product 2 go up by 8,000 units? 31) ______ A) 70,000 units B) 20,000 and 40,000 units, respectively C) 22,000 and 44,000 units, respectively […]

External link to Question : 43.Sunk costs: A. Have already been incurred as a result of past : 1259662

Question : 43.Sunk costs: A. Have already been incurred as a result of past : 1259662

    43.Sunk costs:    A. Have already been incurred as a result of past actions.   B. Vary among the alternative courses of action being considered.   C. Are benefits that could have been obtained by following another course of action.   D. Result from unfavorable cost variances.         44.Which factor is not relevant in deciding whether or not to accept a special order?    A. Incremental revenue […]

External link to Question : Multiple Choice Questions 35.An unincorporated association of two or more persons : 1236405

Question : Multiple Choice Questions 35.An unincorporated association of two or more persons : 1236405

  Multiple Choice Questions  35.An unincorporated association of two or more persons to pursue a business for profit as co-owners is a:    A.Partnership. B.Proprietorship. C.Contractual company. D.Mutual agency. E.Voluntary organization. 36.Advantages of a partnership include:    A.Limited life. B.Mutual agency. C.Unlimited liability. D.Co-ownership of property. E.Voluntary association. 37.A partnership agreement:    A.Is not binding unless it is in writing. B.Is the same as a limited liability partnership. […]

External link to Question : Learning Objective 9-3 1) During its first year of business, Gnu, : 1252991

Question : Learning Objective 9-3 1) During its first year of business, Gnu, : 1252991

  Learning Objective 9-3   1) During its first year of business, Gnu, Inc. sold $200,000 of merchandise to customers on account.  At the end of the year Gnu, Inc. had accounts receivable of $40,000. How much cash did the company collect from credit customers during the year? A) $200,000 B) $240,000 C) $160,000 D) $40,000 2) On January 1, 2011, Company X had accounts […]

External link to Question : 80. Since an error in the period-end inventory causes an offsetting : 1257911

Question : 80. Since an error in the period-end inventory causes an offsetting : 1257911

    80. Since an error in the period-end inventory causes an offsetting error in the next period: A. Managers can ignore the error.B. It is said to be self-correcting.C. It affects only income statement accounts.D. If affects only balance sheet accounts.E. Is immaterial for managerial decision making.   81. The understatement of the ending inventory balance causes: A. Cost of goods sold to be overstated and net income to be understated.B. Cost of goods sold […]

External link to Question : 91. When Bayou Corporation was formed January 1, 20xx, the corporate : 1239271

Question : 91. When Bayou Corporation was formed January 1, 20xx, the corporate : 1239271

    91. When Bayou Corporation was formed on January 1, 20xx, the corporate charter provided for 100,000 share of $10 par value common stock.  The following transaction was among those engaged in by the corporation during its first month of operation: The corporation issued 9,000 shares of stock at a price of $23 per share.  The entry to record the above transaction would include a  […]

External link to Question : 31.White Company budgeted for $200,000 of fixed overhead cost and : 1257194

Question : 31.White Company budgeted for $200,000 of fixed overhead cost and : 1257194

    31.White Company budgeted for $200,000 of fixed overhead cost and volume of 40,000 units. During the year, the company produced and sold 39,000 units and spent $210,000 on fixed overhead.The fixed overhead cost spending variance is:    A. $10,000 favorable.   B. $10,000 unfavorable.   C. $5,000 favorable.   D. $5,000 unfavorable.     32.White Company budgeted for $200,000 of fixed overhead cost and volume of 40,000 units. […]

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