51.The U.S. Office of Personnel Management is in charge of the:    A.executive order 11246.   B.Pregnancy Discrimination Act.   C.executive order 11478.   D.Equal Pay Act of 1963.   E.Americans with Disabilities Act.     52.Which of the following agencies is responsible for enforcing Title VII of the Civil Rights Act and the Americans with Disabilities Act?    A.U.S. Department of Commerce   B.Equal […]

  5) In a multinational company, budgeting is primarily done to evaluate the firm’s performance relative to its budgets.   Objective 6.A   1) The ________ is required to prepare the cash budget of an organization. A) statement of shareholder’s equity B) budgeted balance sheet C) capital expenditures budget D) budgeted statement of cash flow   2) Financial analysts use the projected cash flow statement […]

    71.Refer to the information above. If Cash at December 31, 2014, is $86,000, Capital Stock is:    A.$260,000.   B.$300,000.   C.$620,000.   D.$168,000. Cash ($86,000) + A/R ($40,000) + Land ($240,000) + Building ($180,000) + Equipment ($120,000) = $666,000A/P ($16,000) + N/P ($190,000) + Capital Stock (?) + R.E. ($160,000) = $666,000Capital Stock = $300,000       72.Refer to the information above. […]

  91. A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the company’s unadjusted trial balance reported the following selected amounts:    All sales are made on credit. Based on past experience, the company estimates 0.6% of credit sales to be uncollectible. What adjusting entry should the company make at the end of the […]

  91. Most employers are required to withhold from employees which of the following employment taxes?  A. FICA tax B. FICA tax, state and federal unemployment compensation tax C. only state unemployment compensation tax D. only federal unemployment compensation tax 92. An employee receives an hourly rate of $25, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week […]

    51. The FASB and IASB are working jointly to develop a revised, coordinated set of financial reporting objectives. They envision that the  A. primary user groups are present and potential providers of resources, including equity investors and creditors. B. users want information useful for making resource allocation decisions. C. users want information useful for making decisions about protecting and enhancing their investments. D. proposed reporting objectives would also […]

  Multiple Choice Questions 21. Which of the following is a definition of career management? A) An organizational process which involves preparing, implementing, and monitoring career plans undertaken by an individual alone or within the organization’s career systems. B) A formal, organized, planned effort to achieve a balance between individual career needs and organizational workforce requirements. C) An attempt by an individual to become more […]

      On April 2, 2009, Victor, Inc. acquired a new piece of filtering equipment. The cost of the equipment was $160,000 with a residual value of $20,000 at the end of its estimated useful lifetime of 4 years. 94. Refer to the information above. Assume that in its financial statements, Victor uses straight-line depreciation and rounds depreciation for fractional years to the nearest whole […]

Multiple Choice Questions  1.Which product costing system distributes costs evenly across total production?    A. Process cost system   B. Job order cost system   C. Standard cost system   D. Variable cost system     2.A process cost system would be appropriate for all of the following except:    A. Production of gasoline.   B. Manufacture of smart phones.   C. Services provided by public accounting firm.   D. Manufacture of granola bars.   […]

  Multiple Choice       21. One of the primary reasons for investing in equity securities includes: a. Acquiring debt of competing companies. b. Appreciation in the value of the stock. c. Earning interest revenue. d. Deducting dividend payments for tax purposes.     22. One of the primary reasons for investing in debt securities includes: a. Receiving dividend payments. b. Acquiring significant influence. […]