External link to Question : 10.2   Multiple-Choice Questions 1) Which of the following statements best differentiates : 1222540

Question : 10.2   Multiple-Choice Questions 1) Which of the following statements best differentiates : 1222540

  10.2   Multiple-Choice Questions 1) Which of the following statements best differentiates a profession and a professional? A) A profession is an occupation that requires advanced education and training and a professional is a person who oversees the behavioral actions of those who practice a profession. B) A profession is a value-based internal force for behavioral action and a professional is a person who oversees […]

External link to Question : 83.If the government primarily or secondarily liable for the payment : 1255446

Question : 83.If the government primarily or secondarily liable for the payment : 1255446

  83.If the government is primarily or secondarily liable for the payment of debt principal and interest for a special assessment project,: A)The tax levy and debt service expenditures should be recorded in an internal service fund. B)A special revenue fund should account for the proceeds of the debt and construction expenditures C)The project is accounted for within governmental type funds as if it were […]

External link to Question : 121. Assume in analyzing alternative proposals that Proposal F has a : 1233935

Question : 121. Assume in analyzing alternative proposals that Proposal F has a : 1233935

  121. Assume in analyzing alternative proposals that Proposal F has a useful life of six years and Proposal J has a useful life of nine years. What is one widely used method that makes the proposals comparable?  A. Ignore the fact that Proposal F has a useful life of six years and treat it as if it has a useful life of nine years. B. Adjust the […]

External link to Question : 11) Feedback from previous decisions uses historical information and, therefore, : 1216921

Question : 11) Feedback from previous decisions uses historical information and, therefore, : 1216921

  11) Feedback from previous decisions uses historical information and, therefore, is irrelevant for making future predictions. 12) The textbook discusses a five-step decision process. Briefly explain each of the five steps.   Obtaining information involves collecting all data pertinent to the decision situation, both quantitative and qualitative, and determining which information is relevant to the decision, and determining which alternatives are being considered.   […]

External link to Question : 46. Temporary investments A. are reported as current assetsB. include cash equivalentsC. do not include : 1226750

Question : 46. Temporary investments A. are reported as current assetsB. include cash equivalentsC. do not include : 1226750

  46. Temporary investments  A. are reported as current assets B. include cash equivalents C. do not include equity securities D. all of the above   47. Which of the following is not a reason to invest excess cash in temporary investments?  A. earn interest revenue B. influence the operations of another company C. receive dividends D. realize gains from the increase in market value of the securities   48. Investment is certificates of deposit and […]

External link to Question : 101. A liability created by the receipt of cash from customers : 1256630

Question : 101. A liability created by the receipt of cash from customers : 1256630

    101. A liability created by the receipt of cash from customers in payment for products or services that have not yet been delivered to the customers is:  A. Recorded as a debit to an unearned revenue account. B. Recorded as a debit to a prepaid expense account. C. Recorded as a credit to an unearned revenue account. D. Recorded as a credit to a prepaid expense account. E. Not […]

External link to Question : 81. A company’s gross profit rate 30% of sales. Expected : 1256663

Question : 81. A company’s gross profit rate 30% of sales. Expected : 1256663

    81. A company’s gross profit rate is 30% of sales. Expected January sales are $78,000 and desired January 31st  inventory is $7,500. Assuming the December 31st inventory is $6,200 what amount of purchases should this company budget for the month of January?A.  $53,300B.  $55,900C.  $24,700D.  $22,100E.  $79,300     82. Kabuki Company’s policy is to have 16% of the next month’s sales as […]

External link to Question : 81. Which of the following statements correct using the direct costing : 1239533

Question : 81. Which of the following statements correct using the direct costing : 1239533

    81. Which of the following statements is correct using the direct costing concept? A. All manufacturing costs are included in the calculation of cost of goods manufactured.B. Only fixed costs are included in the calculation of cost of goods manufactured while variable costs are considered period costs.C. Only variable manufacturing costs are included in the calculation of cost of goods manufactured while fixed costs are considered period costs.D. All […]

External link to Question : 147.Fortune Drilling Company acquires a mineral deposit at a cost : 1258933

Question : 147.Fortune Drilling Company acquires a mineral deposit at a cost : 1258933

    147.Fortune Drilling Company acquires a mineral deposit at a cost of $5,900,000. It incurs additional costs of $600,000 to access the deposit, which is estimated to contain 2,000,000 tons and is expected to take 5 years to extract. What journal entry would be needed to record the expense for the first year assuming 418,000 tons were mined?     A.Debit Depletion Expense $1,233,100; credit […]

External link to Question : 61) Responsibility accounting a system that 61) ______ A) deals : 1196260

Question : 61) Responsibility accounting a system that 61) ______ A) deals : 1196260

  61) Responsibility accounting is a system that 61) ______ A) deals mainly with revenues. B) measures the plans and actions of responsibility centres. C) requires subdividing all management levels. D) is most appropriate at the top levels of the organization. E) is closely tied to the master budget. 62) Which of the following statements is FALSE concerning controllability of costs? 62) ______ A) Controllable […]

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