151. The balanced scorecard measures financial and nonfinancial performance of a business. The balanced scorecard measures four areas. Identify one of the following that is not included as a performance measurement.  A. Internal Process B. Financial C. Innovation and Learning D. Employees 152. The following is a measure of a manager’s performance working in an investment center.  A. budget performance report B. rate of return and residual income measures C. divisional income statements […]

  Objective 15.4   1) A cost of operating a facility, department, activity area, or like cost object that is shared by two or more users is called a ________. A) combined cost B) distinct cost C) fixed cost D) common cost 2) Under the stand-alone method of allocating common costs ________. A) the individual users of a cost object are ranked in the order […]

  Multiple Choice Questions 60. Damaged and obsolete goods that can be sold: A. Are never counted as inventory.B. Are included in inventory at their full cost.C. Are included in inventory at their net realizable value.D. Should be disposed of immediately.E. Are assigned a value of zero.   61. Merchandise inventory includes: A. All goods owned by a company and held for sale.B. All goods in transit.C. All goods on consignment.D. Only damaged goods.E. Only non-damaged goods.     […]

  83. A classified balance sheet: A. Measures a company’s ability to pay its bills on time.B. Organizes assets and liabilities into important subgroups that provide more information.C. Broadly groups items into assets, liabilities and equity.D. Reports operating, investing, and financing activities.E. Reports the effect of profit and  dividends on  retained earnings. 84. Two common subgroups for liabilities on a classified balance sheet are: A. Current liabilities and intangible liabilities.B. Present liabilities and operating liabilities.C. General liabilities […]

  31.Consider the following transactions: Issued common stock for cash. Purchased equipment by signing a note payable. Paid rent for the current month. Collected cash from customers on account. How many of these four transactions increased the given company’s total assets? A.One. B.Two. C.Three. D.Four. 32.Assume that Sallisaw Sideboards, Inc. had a retained earnings balance of $10,000 on April 1, and that the company had […]

    31. _____ are factors in a company’s business strategy that give it a competitive edge.  A. MBOs B. OBMs C. KPIs D. CSFs Companies measure employee behavior that relates to attainment of CSFs, which increases the importance of these behaviors for employees. Employees can be held accountable and rewarded for behaviors that directly relate to the company attaining the CSFs.     32. Which performance management evaluation criterion is […]

  11.2   Multiple-Choice Questions 1) Which of the following is situation commonly drives a business valuation engagement? A) hypothecation of assets B) shareholder dispute C) hedging a company’s derivatives D) determination of dividend payout 2) Which of the following is a primary issue of the business valuation theory? A) determining current benefits from the business B) estimating expected future benefits C) calculating historical benefits received […]

  81. Land improvements are:  A. Assets that increase the usefulness of land, and like land, are not depreciated. B. Assets that increase the usefulness of land, but that have a limited useful life and are subject to depreciation. C. Included in the cost of the land account. D. Expensed in the period incurred. E. Also called basket purchases. 82. Plant assets include:  A. Land. B. Land improvements. C. Buildings. D. Machinery and equipment. E. All of […]

  169. You evaluate loan requests as part of your job at Beach Front National Bank.  One loan request you received is from Surfer Dude Supplies, a small company.  Tracy Roberts, the manager, is requesting $75,000 and brings you a trial balance (or Statement of Accounts) of the first year of operations ended December 31, 2010.REQUIRED: While you are willing to work with Tracy, how would […]

    51. Identify the example of utility analysis from the following.  A. Capitalization of salary B. Gains from selection programs C. Returns on human assets and human investments D. Net present value of expected wage payments Utility analysis attempts to estimate the financial impact of employee behaviors (such as absenteeism, turnover, job performance, and substance abuse).     52. Which of the following is not a type of human resource […]