Objective 16.6 1) Which method of accounting recognizes byproducts in the financial statements at the time their production is completed? A) gross margin method B) sales method C) production method D) market value method Answer the following questions using the information below: Torid Company processes 17,500 gallons of direct materials to produce two products, Product X and Product Y. Product X […]
10.3 Learning Objective 10-3 1) A list of creditors with balances owed is called: A) a schedule of accounts receivable. B) a schedule of accounts payable. C) a list of suppliers. D) a trade list. 2) The entry to record returned merchandise to Vine Company is: A) debit Purchases Returns and Allowances; credit Accounts Receivable in the general ledger. B) debit Accounts Payable; credit […]
97.Marlow Company purchased a point of sale system on January 1 for $3,400. This system has a useful life of 10 years and a salvage value of $400. What would be the accumulated depreciation at the end of the second year of its useful life using the double-declining-balance method? A.$2,176. B.$544. C.$1,200. D.$600. E.$1,224. Depreciation Expense = Book Value […]
1) An inventory count should be done at least once per year. 2) The gross margin method is an estimate of inventory sometimes used to estimate losses for insurance claims due to a fire or natural disaster. 3) To apply the retail method of estimating the cost of inventory the business must know both the total cost and total selling price of its’ […]
Multiple Choice Questions 11.After completing the exercises in Chapter 5, restore the following backup to start Chapter 6. A.Chapter 5.ptb B.Exercise 5.ptb C.Exercise 5-2.ptb D.Exercise 5-1.ptb E.Bgs.ptb 12.You need to set up a Job ID for Franklin Botanical Gardens in Chapter 6, so that you can track: A.The employees’ expenses and miles driven to the job […]
121. Flyer Company sells a product in a competitive marketplace. Market analysis indicates that their product would probably sell at $48 per unit. Flyer management desires a 12.5% profit margin on sales. Their current full cost per unit for the product is $44 per unit. What is the target cost of the company’s product? A. $44B. $42C. $43D. $40 122. Flyer Company sells a product in a competitive marketplace. […]
11. Calculate the future value of equal semiannual payments of $9,000 at 12% compounded semiannually for 4 years. The answer is a.$43,014. b.$55,888. c.$89,077. d.$114,757. 12.Present value is a. how much today’s money will be worth in the future. b. the amount of money that must be invested now to produce a known future value. c. always larger than the future value. d. the […]
61) What is Product Z5’s and Product W3’s respective production cost per unit? 61) ______ A) $2.50 and $2.88 B) $2.05 and $3.88 C) $2.60 and $2.88 D) $2.60 and $3.61 E) $2.86 and $3.68 62) In rate regulation settings, which method is usually preferred over the sales value method? 62) ______ A) estimated net-realizable method B) sales value at split off method C) […]
51. A leasehold refers to the rights the lessor grants to the lessee under the terms of the lease. 52. Intangible assets are nonphysical assets used in operations that confer on their owners’ long-term rights, privileges, or competitive advantages. 53. Since goodwill is an intangible, it is amortized each year using the straight-line method, the same as other intangibles are amortized. 54. A patent is an […]
43. In a process costing system, costs flow from one Work in Process Inventory account to the next in the same sequence as: A. Units flow through production. B. In a LIFO periodic inventory system. C. Shipped to customers. D. In a job order cost system. 44. In a process costing system, the number of units started and completed for a period is equal to: A. Units transferred […]
61. Which of the following statements regarding intermolecular forces is incorrect?
A)Hydrogen bonding is the strongest of the intermolecular forces.
B)London dispersion forces increase with increasing molecular size.
C)Dipole-dipole forces are present in all atoms and molecules.
D)In order for a pure substance to participate in hydrogen bonding, it must have hydrogen bonded to F, O, or N.
E)Intermolecular forces are much weaker than bonding forces.
62. Which of the following statements regarding intermolecular forces is incorrect?
A)Hydrogen bonding is the strongest of the intermolecular forces for substances of similar molar mass.
B)London dispersion forces are present in all atoms and molecules.
C)Dipole-dipole forces increase with increasing molecular size.
D)Bonding forces are much stronger than intermolecular forces.
E)Hydrogen bonding is the reason for the abnormally high boiling point of water.
63. Which choice correctly lists the intermolecular forces present in CH3NH2?
A)London forces only
B)dipole-dipole forces only
C)London forces, dipole-dipole forces, and hydrogen bonding
D)dipole-dipole forces and hydrogen bonding
E)hydrogen bonding only
64. Which choice correctly lists the intermolecular forces present in CH4?
A)London forces only
B)London forces and dipole-dipole forces
C)London forces, dipole-dipole forces, and hydrogen bonding
D)dipole-dipole forces and hydrogen bonding
E)London forces and hydrogen bonding
65. Which choice correctly lists the intermolecular forces present in CH3Br?
A)London forces only
B)London forces and dipole-dipole forces
C)London forces, dipole-dipole forces, and hydrogen bonding
D)dipole-dipole forces and hydrogen bonding
E)London forces and hydrogen bonding
66. Arrange the following substances in order of increasing boiling point: CH3OH, CH4, CH3CH2OH, HOCH2CH2OH
A)CH3OH < CH4 < CH3CH2OH < HOCH2CH2OH B)CH4 < CH3OH < CH3CH2OH < HOCH2CH2OH C)CH4 < CH3OH < HOCH2CH2OH < CH3CH2OH D)CH3OH < CH4 < HOCH2CH2OH < CH3CH2OH E)HOCH2CH2OH < CH3CH2OH < CH3OH < CH4 67. Arrange the following substances in order of increasing boiling point: N2, H2, NH3, PH3 A)H2 < N2 < PH3 < NH3D)N2 < PH3 < NH3 < H2 B)N2 < H2 < PH3 < NH3E)NH3 < PH3 < N2 < H2 C)H2 < N2 < NH3 < PH3 68. Select the pair of substances which has the one with the higher equilibrium vapor pressure at a given temperature listed first. A)H2O, H2SD)NH3, PH3 B)CH3CH2OH, CH3OHE)Br2, Cl2 C)CH3COCH3, CH3CH2CH2OH 69. Select the pair of substances which has the one with the higher equilibrium vapor pressure at a given temperature listed first. A)H2O, HClD)AsH3, PH3 B)CH3OH, CH4E)Cl2, Br2 C)CH3CH2CH2OH, CH3COCH3 70. Which of the following statements regarding the liquid state is incorrect? A)Liquids are about 1000 times denser than gases. B)Liquids are normally about 90-95% as dense as their corresponding solid. C)The viscosity of a liquid is a measure of its resistance to flow. D)Molecules with high intermolecular forces will have high surface tension. E)Surface tension increases as temperature increases.
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