External link to Question : 81. Which of the following not true? A. Firms report accounts receivable they : 1245813

Question : 81. Which of the following not true? A. Firms report accounts receivable they : 1245813

    81. Which of the following is not true? A. Firms report accounts receivable they expect to collect within one year at the amount of cash the firms expect to receive. B. Both U.S. GAAP and IFRS require firms with significant uncollectible accounts receivable to estimate the amount of uncollectible accounts related to a particular period’s sales and recognize that amount as bad debt expense in the same […]

External link to Question : 92.Gold Company uses a plantwide overhead rate with machine hours : 1258529

Question : 92.Gold Company uses a plantwide overhead rate with machine hours : 1258529

  92.Gold Company uses a plantwide overhead rate with machine hours as the allocation base. Use the following information to solve for the amount of machine hours estimated per unit of product RST.  Direct material cost per unit of RST$15 Total estimated manufacturing overhead$300,000 Total cost per unit of RST$80 Total estimated machine hours150,000 MH Direct labor cost per unit of RST$23 A. 21 MH per unit […]

External link to Question : 11.The accounts receivable turnover and inventory turnover ratios used to : 1242777

Question : 11.The accounts receivable turnover and inventory turnover ratios used to : 1242777

  11.The accounts receivable turnover and inventory turnover ratios are used to analyze a.Long-term solvency b.Profitability c.Liquidity d.Leverage 12.A high accounts receivable turnover ratio indicates a.Customers are making payments quickly b.A large portion of the company’s sales are on credit c.Many customers are not paying their receivables in a timely manner d.The company’s sales have increased 13. The return on assets ratio is comprised of […]

External link to Question : 71. The supplies account has a balance of $1,000 January 1. : 1224890

Question : 71. The supplies account has a balance of $1,000 January 1. : 1224890

  71. The supplies account has a balance of $1,000 on January 1. During January, the company purchased $25,000 of supplies on account and the liability was appropriately recorded. A count of supplies at the end of January indicates a balance of $3,000. Which one of the following is a correct amount to be reported on the company’s financial statements for the month ending January 31?  […]

External link to Question : 72. The following information pertains to Julia & Company: March 1   : 1255954

Question : 72. The following information pertains to Julia & Company: March 1   : 1255954

        72. The following information pertains to Julia & Company: March 1   Beginning inventory = 30 units @ $5 March 3   Purchased 15 units @ $4 March 9   Sold 25 units @ $8   What is the cost of goods sold for Julia & Company assuming it uses LIFO? a. $125. b. $100. c. $110. d. $85.     73. The following […]

External link to Question : 111. U.S. GAAP authoritative guidance requires that financial statements report depreciation : 1245649

Question : 111. U.S. GAAP authoritative guidance requires that financial statements report depreciation : 1245649

    111. U.S. GAAP authoritative guidance requires that financial statements report depreciation charges based on _____ estimates; in practice, the _____ method is the most common.  A. aggressive; straight-line (time) B. reasonable; straight-line (time) C. aggressive; straight-line (use) D. reasonable; straight-line (use) E. reasonable; accelerated   112. Recording periodic depreciation and amortization results in a   A. debit to an expense account, only B. debit to a product cost account, only. C. debit to […]

External link to Question : 41.The specific identification method more appropriate than a cost flow : 1237679

Question : 41.The specific identification method more appropriate than a cost flow : 1237679

    41.The specific identification method is more appropriate than a cost flow assumption method:    A. For a large inventory of identical low-priced items.   B. If each item in the inventory is unique.   C. If purchase costs are rising.   D. If purchase costs are falling.         42.When the LIFO costing method is in use, the seller:    A. Must sell the most recently acquired units […]

External link to Question : 61. Which of the following methods no longer used for analyzing : 1251002

Question : 61. Which of the following methods no longer used for analyzing : 1251002

    61. Which of the following methods is no longer used for analyzing jobs today?  A. Position Analysis Questionnaire B. General Aptitude Test Battery C. Dictionary of Occupational Titles D. Occupational Information Network It has became clear to officials at the U.S. Department of Labor that jobs in the new economy were so qualitatively different from jobs in the old economy, that the DOT no longer served its purpose. […]

External link to Question : 70.Rounding often necessary to make the Production Report cumulative cost : 1169269

Question : 70.Rounding often necessary to make the Production Report cumulative cost : 1169269

    70.Rounding is often necessary to make the Production Report cumulative cost total agree to the total costs accounted for. In the following periods, the amount of the adjustment is either added to or subtracted from the _____________ in work in process.    A. direct materials   B. direct labor   C. manufacturing overhead   D. credit entry         71.The current department costs categories are    A. work […]

External link to Question : 11) The entry to record the payroll tax expense would : 1171354

Question : 11) The entry to record the payroll tax expense would : 1171354

  11) The entry to record the payroll tax expense would include: A) a credit to Federal Income Taxes Payable. B) a credit to Cash. C) a credit to FICA (OASDI and Medicare) Taxes Payable. D) a credit to Wages Payable. 12) The employer’s total FICA, SUTA, and FUTA tax is recorded as: A) a debit to Payroll Tax Expense. B) a credit to Payroll […]

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