External link to Question : 51. Which of the following important when evaluating long-term investments? A. Investments must : 1246982

Question : 51. Which of the following important when evaluating long-term investments? A. Investments must : 1246982

  51. Which of the following is important when evaluating long-term investments?  A. Investments must earn a reasonable rate of return B. Employees are able to determine and propose capital equipment for their divisions or departments C. Proposals should match long term goals. D. All of the above.   52. Which of the following are present value methods of analyzing capital investment proposals?  A. Internal rate of return and average rate of […]

External link to Question : 101. Using the following information, what the amount of net sales? Purchases $32,000 : 1239756

Question : 101. Using the following information, what the amount of net sales? Purchases $32,000 : 1239756

    101. Using the following information, what is the amount of net sales?  Purchases $32,000   Purchases discounts $960 Merchandise inventorySeptember 1 5,700   Merchandise inventorySeptember 30 6,370 Sales returns andallowances 910   Sales 63,000 Purchases returns andallowances 1,200   Freight In 1,040            A. $28,970B. $63,130C. $63,000D. $62,090   102. Using the following information, what is the amount of merchandise available for sale?  Purchases $32,000 […]

External link to Question : 21) Kate and Joe formed a partnership in 2013. Joe : 1171107

Question : 21) Kate and Joe formed a partnership in 2013. Joe : 1171107

  21) Kate and Joe formed a partnership in 2013. Joe invested $80,000 and Kate invested $50,000. The partnership had $100,000 in income during 2015. There is no agreement as to how income is divided. Kate and Joe’s share is: A) Kate gets $100,000 and Joe gets $50,000. B) Kate gets $50,000 and Joe gets $100,000. C) Kate gets $50,000 and Joe gets $50,000. D) […]

External link to Question : 81. A remittance advice isa(n): A. Explanation for a payment by check.B. Bank statement.C. Internal : 1257944

Question : 81. A remittance advice isa(n): A. Explanation for a payment by check.B. Bank statement.C. Internal : 1257944

    81. A remittance advice isa(n):  A. Explanation for a payment by check. B. Bank statement. C. Internal voucher. D. Electronic funds transfer. E. Cancelled check.   82. A bank statement provided by the bank includes:  A. A list of outstanding checks. B. A list of petty cash amounts. C. The beginning and the ending balance of the depositor’s account. D. A listing of deposits in transit. E. A reconciliation to the depositor cash account. 83. A […]

External link to Question : 61. The following examples of external users of accounting information except A. governmentB. customersC. creditorsD. managers 62. Due : 1251340

Question : 61. The following examples of external users of accounting information except A. governmentB. customersC. creditorsD. managers 62. Due : 1251340

  61. The following are examples of external users of accounting information except  A. government B. customers C. creditors D. managers 62. Due to various fraudulent business practices and accounting coverups in the early 2000’s, Congress enacted the Sarbanes-Oxley Act of 2002.  The Act was responsible for establishing a new oversight board for public accountants called the  A. Generally Accepted Accounting Practices for Public Accountants Board B. Public Company Accounting Oversight Board C. Congressional […]

External link to Question : Multiple Choice Questions 31. Which of the following statements not correct? A. In accounting, : 1202802

Question : Multiple Choice Questions 31. Which of the following statements not correct? A. In accounting, : 1202802

  Multiple Choice Questions   31. Which of the following statements is not correct?  A. In accounting, the term “cash” includes checks, money orders, and funds on deposit in a bank as well as currency and coins. B. The cash register proof is used to enter the cash sales and sales tax in the journal. C. In a well managed business, most bills are paid by cash. D. The petty […]

External link to Question : Multiple Choice Questions 58. The accounting process begins with: A. Analysis of business transactions : 1257822

Question : Multiple Choice Questions 58. The accounting process begins with: A. Analysis of business transactions : 1257822

  Multiple Choice Questions   58. The accounting process begins with:  A. Analysis of business transactions and source documents. B. Preparing financial statements and other reports. C. Summarizing the recorded effect of business transactions. D. Presentation of financial information to decision-makers. E. Preparation of the trial balance.   59. All of the following statements regarding a sales invoice are true except:  A. A sales invoice is a type of source document. B. A sales […]

External link to Question : 115. When a company pays utilities of $1,800 in cash, : 1255801

Question : 115. When a company pays utilities of $1,800 in cash, : 1255801

    115. When a company pays utilities of $1,800 in cash, the transaction is recorded as: a. Debit Utilities Expense $1,800, credit Utilities Payable $1,800. b. Debit Utilities Payable $1,800, credit Cash $1,800. c. Debit Cash $1,800, credit Utilities Expense $1,800. d. Debit Utilities Expense $1,800, credit Cash $1,800.     116. Assume that cash is paid for rent to cover the next year. […]

External link to Question : 107.If office equipment sold at cost in exchange for a : 1244308

Question : 107.If office equipment sold at cost in exchange for a : 1244308

    107.If office equipment is sold at cost in exchange for a promissory note,   a. total liabilities increase. b. total assets remain the same. c. total liabilities and stockholders’ equity decrease. d. total assets decrease.       108.The declaration and payment of a dividend will   a. decrease net income. b. not affect total assets. c. decrease stockholders’ equity. d. increase liabilities. […]

External link to Question : 41. Roy DeSoto earns a regular hourly salary of $24.50. He : 1202653

Question : 41. Roy DeSoto earns a regular hourly salary of $24.50. He : 1202653

  41. Roy DeSoto earns a regular hourly salary of $24.50. He is paid time-and-a-half for all hours in excess of 40 in the week. For the week ended March 8, 2013, he worked a total of 50 hours. His gross wages year to date, prior to his March 8, paycheck, are $11,980. Social Security Tax is 6.2%, Medicare Tax is 1.45%, federal unemployment tax is […]

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