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External link to Question : 51.Which of the following contains at least one item that : 1302850
Economics

Question : 51.Which of the following contains at least one item that : 1302850

    51.Which of the following contains at least one item that is not a common method companies use to estimate sales? A.Economic models, and estimates from a company’s own sales force B.Trends in a company’s own sales data, and estimates from a company’s own sales force C.Estimates from a company’s own sales force, and expected production levels D.Economic models, and trends in a company’s […]

External link to Question : 121) Refer to Figure 35-4. Suppose the Bank of Canada : 1384551
Economics

Question : 121) Refer to Figure 35-4. Suppose the Bank of Canada : 1384551

  121) Refer to Figure 35-4. Suppose the Bank of Canada pegs the exchange rate at and the supply curve is . The Bank would have to ________ foreign exchange in the amount of ________ per month. A) sell; B) sell; C) purchase; D) purchase; E) No transaction would be necessary 122) Refer to Figure 35-4. Suppose the Bank of Canada pegs the exchange rate […]

External link to Question : 31) Which of the following statements about deposit money true? : 1384442
Economics

Question : 31) Which of the following statements about deposit money true? : 1384442

  31) Which of the following statements about deposit money is true? A) The quantity of fiat money in the Canadian economy far exceeds the quantity of deposit money. B) Deposit money can legally be created solely by the Bank of Canada. C) Deposit money is the paper money or coinage that is decreed by the government to be accepted as legal tender. D) Deposit […]

External link to Question : 21. Dorffman Inc. has a $18,000 favorable flexible budget variance for : 1291604
Economics

Question : 21. Dorffman Inc. has a $18,000 favorable flexible budget variance for : 1291604

  21. Dorffman Inc. has a $18,000 favorable flexible budget variance for May. Which of the following statements is true, if May’s actual net operating income was $72,000?  A. Dorffman’s static budget must have showed a net operating income of $54,000. B. Dorffman’s static budget must have showed a net operating income of $90,000. C. Dorffman’s flexible budget must have showed a net operating income of $54,000. D. Dorffman’s flexible […]

External link to Question : 71.RefertoTable11-2.Supposethecosttoinstalleachstreetlightis$360andthefamilieshaveagreedtosplitthecostofthestreetlightsequally.Ifthefamiliesvotetodeterminethenumberofstreetlightstoinstall,basingtheirdecisionsolelyonthe : 1261435
Economics

Question : 71.RefertoTable11-2.Supposethecosttoinstalleachstreetlightis$360andthefamilieshaveagreedtosplitthecostofthestreetlightsequally.Ifthefamiliesvotetodeterminethenumberofstreetlightstoinstall,basingtheirdecisionsolelyonthe : 1261435

  71.RefertoTable11-2.Supposethecosttoinstalleachstreetlightis$360andthefamilieshaveagreedtosplitthecostofthestreetlightsequally.Ifthefamiliesvotetodeterminethenumberofstreetlightstoinstall,basingtheirdecisionsolelyontheirownwillingnesstopay(andtryingtomaximizetheirownsurplus),whatisthegreatestnumberofstreetlightsforwhichthemajorityoffamilieswouldvote“yes?” a.1streetlight b.2streetlights c.3streetlights d.4streetlights 72.RefertoTable11-2.Supposethecosttoinstalleachstreetlightis$360andthefamilieshaveagreedtosplitthecostofinstallingthestreetlightsequally.Tomaximizetheirownsurplus,howmanystreetlightswouldtheGreene’slikethetowntoinstall? a.0streetlights b.1streetlight c.2streetlights d.3streetlights 73.RefertoTable11-2.Supposethecosttoinstalleachstreetlightis$600andthefamilieshaveagreedtosplitthecostofinstallingthestreetlightsequally.Tomaximizetheirownsurplus,howmanystreetlightswouldtheBrown’slikethetowntoinstall? a.0streetlights b.1streetlight c.2streetlights d.3streetlights 74.RefertoTable11-2.Supposethecosttoinstalleachstreetlightis$900andthefamilieshaveagreedtosplitthecostofinstallingthestreetlightsequally.Tomaximizetheirownsurplus,howmanystreetlightswouldtheBlack’slikethetowntoinstall? a.0streetlights b.1streetlight c.2streetlights d.3streetlights 75.RefertoTable11-2.Supposethecosttoinstalleachstreetlightis$900andthefamilieshaveagreedtosplitthecostofinstallingthestreetlightsequally.Iftheresidentschoosetoinstallthenumberofstreetlightsthatwillmaximizetotalsurplusfromthestreetlights,howmuchtotalsurpluswilltheGreenefamilyreceive? a.-$40 b.$0 c.$40 d.$60 76.RefertoTable11-2.Supposethecosttoinstalleachstreetlightis$360andthefamilieshaveagreedtosplitthecostofinstallingthestreetlightsequally.Iftheresidentschoosetoinstallthenumberofstreetlightsthatwillmaximizetotalsurplusfromthestreetlights,howmuchtotalsurpluswilltheGreenefamilyreceive? a.-$80 b.$320 c.$360 d.$480 Table11-3 ThistabledescribesthepoliceprotectiondemandsforthreeequalsizedgroupsofpeopleinSafetyville.Thesecond,third,andfourthcolumnsshowthenumberofperson-hoursofpoliceprotectionperdaythatagroupwilldemandforagivenprice(thefirstcolumn).   Price Group#1 Group#2 Group#3 $42 0 0 0 $36 0 0 9 $30 0 9 18 $24 9 18 39 $18 18 39 66 $12 39 66 99 $6 66 99 […]

External link to Question : 41) What happens to the demand for a good if : 1228203
Economics

Question : 41) What happens to the demand for a good if : 1228203

    41) What happens to the demand for a good if a complement’s price increases? A) The demand decreases and the demand curve shifts rightward. B) The demand increases and the demand curve shifts rightward. C) The demand decreases and the demand curve shifts leftward. D) The demand increases and the demand curve shifts leftward. E) There is no impact on demand for the […]

External link to Question : 21) Which of the following a microeconomic topic? i.Gas prices increase : 1237985
Economics

Question : 21) Which of the following a microeconomic topic? i.Gas prices increase : 1237985

  21) Which of the following is a microeconomic topic? i.Gas prices increase after a hurricane hits the gulf coast. ii.Xavier starts a new business designing web pages. iii.Abby decides to practice an extra hour of soccer instead of studying. A) i, ii and iii B) i only C) ii and iii D) ii only E) i and ii 22) Macroeconomics is the study of […]

External link to Question : Multiple Choice 29.One of the two reasons the authors give for : 1302971
Economics

Question : Multiple Choice 29.One of the two reasons the authors give for : 1302971

  Multiple Choice 29.One of the two reasons the authors give for the importance of concerns over international ethics and social responsibility is _____. a.virtually none of the multinational companies have made even the slightest effort to behave ethically and responsibly when the law does not force them to do so b.the global economy has increasingly brought diverse cultures and value systems into contact to […]

External link to Question : 81.Sultan Sundries must maintain a minimum cash balance of $34,000. : 1302853
Economics

Question : 81.Sultan Sundries must maintain a minimum cash balance of $34,000. : 1302853

    81.Sultan Sundries must maintain a minimum cash balance of $34,000. At the beginning of February the company’s cash balance was $60,000. The budget for February is as follows:   Total cash receipts              $250,000 Total cash disbursements              $245,000 Net income              $50,000 Purchase machinery by signing a note              $35,000   During February, how much will Sultan need to borrow? A.$50,000 B.$0 C.$25,000 D.$4,000 82.DynaCare Products’ […]

External link to Question : 21) In 2009, tickets to a Presidential Town Hall meeting : 1226514
Economics

Question : 21) In 2009, tickets to a Presidential Town Hall meeting : 1226514

    21) In 2009, tickets to a Presidential Town Hall meeting were distributed to individuals through a random selection of those who registered on a website. The tickets were allocated by which method? A) lottery B) majority rule C) contest D) first-come, first-served E) personal characteristics 22) The Ironman Hawaii randomly draws a few hundred slots from thousands of applicants for the race. The […]

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July 1, 2023
    

11) Net income appears on the worksheet:

A) only in the balance sheet credit column.

B) only in the income statement credit column

C) in the income statement debit column and balance sheet debit column

D) in the income statement debit column and balance sheet credit column

 

12) Net loss appears on the worksheet:

A) in the income statement credit column and balance sheet debit column.

B) only in the income statement credit column.

C) in the income statement debit column and balance sheet credit column.

D) only in the balance sheet debit column.

 

13) The prepaid rent account has a balance that is $400 less in the worksheet's balance sheet debit column than in the worksheet's trial balance debit column. This would be the result of a:

A) $400 entry to prepaid rent in the worksheet's adjustments debit column.

B) $400 entry to prepaid rent in the worksheet's adjustments credit column.

C) $400 entry to rent expense in the worksheet's adjustments credit column.

D) mistake in cross-adding the worksheet.

14) Salary expense has a balance of $65,400 in the trial balance debit column of a worksheet. The adjustments credit column contains a $500 credit to salary payable. The adjusted trial balance column will show:

A) salary expense with a debit balance of $64,900.

B) salary expense with a debit balance of $6,500.

C) salary expense with a debit balance of $65,900.

D) salary payable with a credit balance of $65,900.

 

15) Interest expense on a worksheet's trial balance debit column has a $3,400 balance and a $4,000 balance on the worksheet's income statement debit column. The difference is due to:

A) an entry in the adjustments credit column for $600 to interest expense.

B) an entry in the adjustments debit column for $4,000 to interest expense.

C) an entry in the adjustments credit column for $4,000 to interest expense.

D) an entry in the adjustments credit column for $600 to interest payable.

 

16) On a worksheet, the income statement debit column equals $190,800 and the income statement credit column equals $195,600. From this data, it can be determined that:

A) the company had a net loss of $4,800 added to the income statement credit column.

B) the company had a net income of $4,800 added to the income statement debit column.

C) the company had a net loss of $4,800 added to the income statement debit column.

D) the company had a net income of $4,800 added to the income statement credit column.

 

17) Which of the following appears in the balance sheet debit column of a worksheet?

A) service revenue

B) income summary

C) owner withdrawals

D) accounts payable

18) Which of the following appears in the income statement credit column of a worksheet?

A) service revenue

B) income summary

C) owner withdrawals

D) accounts receivable

 

19) If the unearned service revenue account had an unadjusted normal balance of $4,800, and an adjustment was made debiting the account for $1,500, the account would appear on the adjusted trial balance of the worksheet as a:

A) $4,800 debit.

B) $6,300 credit.

C) $3,300 credit.

D) $3,300 debit.

 

20) After all the account balances have been extended to the balance sheet columns of the worksheet, the totals of the debit and credit columns are $35,350 and $38,750, respectively. It can be concluded the company has a:

A) net income of $3,400.

B) net loss of $3,400.

C) $74,100 net loss.

D) $74,100 net income.

 

 

 

default image
July 1, 2023
    

11) Net income appears on the worksheet:

A) only in the balance sheet credit column.

B) only in the income statement credit column

C) in the income statement debit column and balance sheet debit column

D) in the income statement debit column and balance sheet credit column

 

12) Net loss appears on the worksheet:

A) in the income statement credit column and balance sheet debit column.

B) only in the income statement credit column.

C) in the income statement debit column and balance sheet credit column.

D) only in the balance sheet debit column.

 

13) The prepaid rent account has a balance that is $400 less in the worksheet's balance sheet debit column than in the worksheet's trial balance debit column. This would be the result of a:

A) $400 entry to prepaid rent in the worksheet's adjustments debit column.

B) $400 entry to prepaid rent in the worksheet's adjustments credit column.

C) $400 entry to rent expense in the worksheet's adjustments credit column.

D) mistake in cross-adding the worksheet.

14) Salary expense has a balance of $65,400 in the trial balance debit column of a worksheet. The adjustments credit column contains a $500 credit to salary payable. The adjusted trial balance column will show:

A) salary expense with a debit balance of $64,900.

B) salary expense with a debit balance of $6,500.

C) salary expense with a debit balance of $65,900.

D) salary payable with a credit balance of $65,900.

 

15) Interest expense on a worksheet's trial balance debit column has a $3,400 balance and a $4,000 balance on the worksheet's income statement debit column. The difference is due to:

A) an entry in the adjustments credit column for $600 to interest expense.

B) an entry in the adjustments debit column for $4,000 to interest expense.

C) an entry in the adjustments credit column for $4,000 to interest expense.

D) an entry in the adjustments credit column for $600 to interest payable.

 

16) On a worksheet, the income statement debit column equals $190,800 and the income statement credit column equals $195,600. From this data, it can be determined that:

A) the company had a net loss of $4,800 added to the income statement credit column.

B) the company had a net income of $4,800 added to the income statement debit column.

C) the company had a net loss of $4,800 added to the income statement debit column.

D) the company had a net income of $4,800 added to the income statement credit column.

 

17) Which of the following appears in the balance sheet debit column of a worksheet?

A) service revenue

B) income summary

C) owner withdrawals

D) accounts payable

18) Which of the following appears in the income statement credit column of a worksheet?

A) service revenue

B) income summary

C) owner withdrawals

D) accounts receivable

 

19) If the unearned service revenue account had an unadjusted normal balance of $4,800, and an adjustment was made debiting the account for $1,500, the account would appear on the adjusted trial balance of the worksheet as a:

A) $4,800 debit.

B) $6,300 credit.

C) $3,300 credit.

D) $3,300 debit.

 

20) After all the account balances have been extended to the balance sheet columns of the worksheet, the totals of the debit and credit columns are $35,350 and $38,750, respectively. It can be concluded the company has a:

A) net income of $3,400.

B) net loss of $3,400.

C) $74,100 net loss.

D) $74,100 net income.

 

 

 

default image
July 1, 2023
    

11) Net income appears on the worksheet:

A) only in the balance sheet credit column.

B) only in the income statement credit column

C) in the income statement debit column and balance sheet debit column

D) in the income statement debit column and balance sheet credit column

 

12) Net loss appears on the worksheet:

A) in the income statement credit column and balance sheet debit column.

B) only in the income statement credit column.

C) in the income statement debit column and balance sheet credit column.

D) only in the balance sheet debit column.

 

13) The prepaid rent account has a balance that is $400 less in the worksheet's balance sheet debit column than in the worksheet's trial balance debit column. This would be the result of a:

A) $400 entry to prepaid rent in the worksheet's adjustments debit column.

B) $400 entry to prepaid rent in the worksheet's adjustments credit column.

C) $400 entry to rent expense in the worksheet's adjustments credit column.

D) mistake in cross-adding the worksheet.

14) Salary expense has a balance of $65,400 in the trial balance debit column of a worksheet. The adjustments credit column contains a $500 credit to salary payable. The adjusted trial balance column will show:

A) salary expense with a debit balance of $64,900.

B) salary expense with a debit balance of $6,500.

C) salary expense with a debit balance of $65,900.

D) salary payable with a credit balance of $65,900.

 

15) Interest expense on a worksheet's trial balance debit column has a $3,400 balance and a $4,000 balance on the worksheet's income statement debit column. The difference is due to:

A) an entry in the adjustments credit column for $600 to interest expense.

B) an entry in the adjustments debit column for $4,000 to interest expense.

C) an entry in the adjustments credit column for $4,000 to interest expense.

D) an entry in the adjustments credit column for $600 to interest payable.

 

16) On a worksheet, the income statement debit column equals $190,800 and the income statement credit column equals $195,600. From this data, it can be determined that:

A) the company had a net loss of $4,800 added to the income statement credit column.

B) the company had a net income of $4,800 added to the income statement debit column.

C) the company had a net loss of $4,800 added to the income statement debit column.

D) the company had a net income of $4,800 added to the income statement credit column.

 

17) Which of the following appears in the balance sheet debit column of a worksheet?

A) service revenue

B) income summary

C) owner withdrawals

D) accounts payable

18) Which of the following appears in the income statement credit column of a worksheet?

A) service revenue

B) income summary

C) owner withdrawals

D) accounts receivable

 

19) If the unearned service revenue account had an unadjusted normal balance of $4,800, and an adjustment was made debiting the account for $1,500, the account would appear on the adjusted trial balance of the worksheet as a:

A) $4,800 debit.

B) $6,300 credit.

C) $3,300 credit.

D) $3,300 debit.

 

20) After all the account balances have been extended to the balance sheet columns of the worksheet, the totals of the debit and credit columns are $35,350 and $38,750, respectively. It can be concluded the company has a:

A) net income of $3,400.

B) net loss of $3,400.

C) $74,100 net loss.

D) $74,100 net income.

 

 

 

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