71._____ refer to the relationships, problems, demands, tasks, and other features that employees face in their jobs.    A.Job specifications   B.Job evaluations   C.Job designs   D.Job redesigns   E.Job experiences     72.Which of the following is true about how job experiences affect development?    A.Job experiences that are seen as negative stressors challenge employees to stimulate learning.   B.Job challenges viewed as […]

    53. Which of the following is not an advantage of using a standard cost system?  A. It eliminates the need for analysis of variances. B. It facilitates establishing an effective system of responsibility accounting. C. It requires an analysis of all aspects of operations. D. It helps management control costs.     54. An important advantage of a standard cost system is that standard costs:  A. Cause financial statements to […]

    41. If the prepaid expenses are not adjusted, assets on the balance sheet  A. will be overstated. B. will be understated. C. will not be affected. D. may be either overstated or understated.   42. If long-term assets are not adjusted, expenses on the income statement  A. will be overstated. B. will be understated. C. will not be affected. D. may be either overstated or understated.   43. On November 25, 2013, the company […]

  59.Which of the following statements is true with regard to depreciation expense?    A. A company should use the depreciation method that best matches expense recognition with the use of the asset. B. A company using straight line will show a smaller book value for assets than if the same company uses double declining balance. C. Choosing double declining balance over straight line will produce a greater total […]

    111. The product life-cycle concept from microeconomics and marketing provides useful insights into the relations among cash flows from operating, investing, and financing activities. During the _____, weakening profitability—from reduced sales or reduced profit margins on existing sales— signals the beginning of the phase, but ever-declining accounts receivable and inventories can produce positive cash flow from operations. In addition, sales of unneeded property, plant, […]

1. Current liabilities are:   A. due, but not receivable for more than one year. B. due, but not payable for more than one year. C. due and receivable within one year. D. due and payable within one year.   2. The journal entry to record the issuance of a note for the purpose of borrowing funds is:   A. debit Accounts Payable; credit Notes Payable. B. debit Cash; credit Notes Payable. C. debit […]

  51. An internal report that helps management analyze the difference between actual performance and budgeted performance based on the actual sales volume (or other level of activity), and which presents the differences between actual and budgeted amounts as variances, is called a(n):  A. Sales budget performance report. B. Flexible budget performance report. C. Master budget performance report. D. Static budget performance report. E. Operating budget performance report. 52. A flexible budget […]

  Multiple Choice Questions   31. In order to ensure that they are meaningful and useful, financial statements should be prepared  A. in accordance with section 108 of the Sarbanes-Oxley Act. B. on a daily basis. C. on a timely basis. D. using generally accepted accounting principles (GAAP).   32. Which of the following statements is not correct?  A. The Securities and Exchange Commission (SEC) issues the Statements of Financial Accounting Standards. […]

    21. Net income for a particular period does not equal cash flow from operations because  A. most firms use the accrual basis of accounting to measure operating performance. B. most firms typically recognize revenue at the time of sale, independent of when they receive the cash from the sale C. some firms receive cash before providing services and recognizing revenues. D. some firms receive cash after they have […]

  Multiple Choice Questions  33.An important advantage of a standard cost system is that standard costs:    A. Cause financial statements to be more comparable because different companies cost their inventories in the same manner.   B. Can be determined with great precision so that inventories are valued with complete accuracy.   C. Cause a lower net income, resulting in lower income taxes.   D. Focus attention on trouble spots […]