33) Data from the accounting system of Quiche and Tell, Inc. are provided below. All amounts are before the current year’s adjustments are made. All adjustments are made at yearend.   Quiche and Tell, Inc. Balance Sheet December 31, 2011 Assets       Liabilities and shareholders’ equity Cash     $350,000   Accounts payable $15,000 Inventory 500,000   Salaries payable 50,000 Supplies 20,000   Notes payable […]

  108.The Discount on Bonds Payable account is:    A.A liability. B.A contra liability. C.An expense. D.A contra expense. E.A contra equity. 109.A discount on bonds payable:    A.Occurs when a company issues bonds with a contract rate less than the market rate. B.Occurs when a company issues bonds with a contract rate more than the market rate. C.Increases the Bond Payable account. D.Decreases the total bond […]

  31.Keisha has $3,500 now and plans on investing it in a fund that will pay her 12% interest compounded quarterly.  How much will Keisha have accumulated after 2 years? A. $4,433.80 B. $4,340.00 C. $4,390.40 D. $3,920.00 E. $3,500.00 32.How long will it take an investment of $25,000 at 6% compounded annually to accumulate to a total of $35,462.50? A. 4 years B. 5 […]

    31.Which of the following is an example of using performance management to fulfill an administrative purpose?    A.Define the results, behaviors, and, to some extent, employee characteristics that are necessary.   B.Develop employees who are effective at their jobs.   C.Use performance appraisal to make decisions such as pay raises, promotions, retention-termination, layoffs, and recognition of individual performance.   D.Identify employees’ strengths and weaknesses, […]

  41) ______ A) $28.17 per unit B) $56.56 per unit C) $65.17 per unit D) $39.44 per unit E) $40.40 per unit 42) Which of the following statements is FALSE? 42) ______ A) The difference between the allocated and the budgeted overhead is the production volume variance. B) The amount allocated always equals the flexible budget amount. C) The production volume variance arises for […]

  51) Network Service Center is considering purchasing a new computer network for $82,000. It will require additional working capital of $13,000. Its anticipated eight-year life will generate additional client revenue of $33,000 annually with operating costs, excluding depreciation, of $15,000. At the end of eight years, it will have a salvage value of $9,500 and return $5,000 in working capital. Taxes are not considered. […]

    31) In what way do managers benefit from the use of a database, or “data warehouse”?   31) ______ A) Managers can store old documents in hard copy. B) Data can be entered at numerous input terminals within the organization. C) The managers would not be completely responsible for the information that is entered into the database system. D) Managers could generate their […]

    71. In cases of religious discrimination, an employee’s burden is to prove all but one of the following. Name the exception.  A. That he/she has a legitimate religious belief. B. That adverse consequences occurred due to the employer’s failure to accommodate. C. That he/she is a member of a protected employee group. D. That he/she provided the employer with notice of the need to accommodate. In cases of […]

    101. A company returned merchandise to a supplier because it did not meet their specifications. This transaction would be recorded in which of the following journals? A. Sales journal B. Purchases journal C. Cash disbursements journal D. Cash receipts journal E. General journal     102. A list of all the accounts in the accounts receivable ledger with their balances and the total is a(n): A. Chart […]

    21.A sponsorship is a part of career support that a mentor provides to his or her protégé.  True    False   22.Despite no gender differences in access to job experiences involving transitions or creating change, male managers receive significantly more assignments involving high levels of responsibility than female managers of similar ability and managerial level.  True    False   23.The glass ceiling is likely caused by lack of access […]