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External link to Question : 11. A person who enjoys thinking, reflecting, and philosophizing most likely : 1252651
Psychology

Question : 11. A person who enjoys thinking, reflecting, and philosophizing most likely : 1252651

    11. A person who enjoys thinking, reflecting, and philosophizing is most likely to score high on a measure of the need for:  A. achievement. B. ideation. C. affiliation. D. cognition.     12. Which of the following is true of peripheral route processing?  A. People who enjoy thinking, philosophizing, and reflecting on the world, use peripheral route processing. B. People who use peripheral route processing are persuaded by factors other than […]

External link to Question : 91. Psychologists adhering to the _____ perspective probably the LEAST likely : 1252695
Psychology

Question : 91. Psychologists adhering to the _____ perspective probably the LEAST likely : 1252695

  91. Psychologists adhering to the _____ perspective are probably the LEAST likely to take a “nature” stance on the nature vs. nurture issue.  A. behaviorist B. cognitive C. neuroscience D. evolutionary 92. Which of the following perspectives of psychology emphasizes observable responses?  A. Behavioral B. Cognitive C. Neuroscience D. Psychodynamic 93. Recall Watson’s quote – “Give me a dozen healthy infants, well-formed, and my own specified world to bring them up in and I’ll guarantee […]

External link to Question : 21. How do arousal approaches to motivation differ from drive-reduction approaches? A. Arousal : 1252528
Psychology

Question : 21. How do arousal approaches to motivation differ from drive-reduction approaches? A. Arousal : 1252528

    21. How do arousal approaches to motivation differ from drive-reduction approaches?  A. Arousal approaches suggest that we are sometimes motivated to increase rather than decrease our level of stimulation. B. Arousal approaches suggest that we are sometimes motivated to decrease rather than increase our level of stimulation. C. Arousal approaches emphasize the desirable qualities of internal stimuli to a greater extent than do drive-reduction approaches. D. Arousal theories […]

External link to Question : 51) Rob scored exactly in the middle of his class : 1184137
Psychology

Question : 51) Rob scored exactly in the middle of his class : 1184137

    51) Rob scored exactly in the middle of his class on the social studies exam. A valid interpretation of Rob’s performance is that he scored exactly at the A) center of a symmetrical frequency distribution. B) mean of the class. C) median of the class. D) mode of the class.     52) What is the median for the following set of scores? […]

External link to Question : 11. Which of the following true about sequential research? A. It combines cross-sectional : 1252544
Psychology

Question : 11. Which of the following true about sequential research? A. It combines cross-sectional : 1252544

    11. Which of the following is true about sequential research?  A. It combines cross-sectional and longitudinal research. B. It only assesses change in behavior over time, but does not assess differences among groups of people. C. It only assesses differences among groups of people, but does not assess change in behavior over time. D. The limitation of this technique is that it does not allow developmental psychologists to […]

External link to Question : 11.When parents encourage discussion with their kids and recognize their : 1245411
Psychology

Question : 11.When parents encourage discussion with their kids and recognize their : 1245411

11.When parents encourage discussion with their kids and recognize their children’s ________, the children are more likely to reach identity achievement because they have experienced the personal experimentation that leads to identity. a.vulnerabilityc.freedom b.egocentrismd.autonomy 12.When parents set rules with little justification and enforce them without explanation, children are more likely to remain in the identity ________ status. These teens are prevented from experimenting with different […]

External link to Question : 91. When individuals desire to have another person near and have : 1246169
Psychology

Question : 91. When individuals desire to have another person near and have : 1246169

    91. When individuals desire to have another person near and have a deep, caring affection for the person, they are displaying _____.  A. romantic love B. affectionate love C. the mere exposure effect D. passionate love 92. Social psychologists believe that _____ is particularly strong during the early stages of a relationship, and that _____ increases as the relationship grows and matures.  A. affectionate love/romantic love B. romantic love/affectionate love C. consensual […]

External link to Question : 57. At what stage of cognitive development does the child : 1200646
Psychology

Question : 57. At what stage of cognitive development does the child : 1200646

  57. At what stage of cognitive development does the child tend to have a scheme for tree but not for electricity? a.Sensorimotor b.Preoperational c.Concrete operational d.Formal operational   58.The child is able to arrange three objects in decreasing length.  Piaget calls this concept: a.accommodation. b.centration. c.classification. d.seriation. 59.Jerry sorts all the nuts into one pile, the bolts into another, and the washers into a […]

External link to Question : 21. Which of the following sequences correctly orders the stages of : 1233539
Psychology

Question : 21. Which of the following sequences correctly orders the stages of : 1233539

  21.  Which of the following sequences correctly orders the stages of the general adaptation syndrome, from first to last? A.  Alarm ? exhaustion ? resistance B.  Alarm ? resistance ? exhaustion C.  Resistance ? alarm ? exhaustion D.  Exhaustion ? resistance ? alarm 22.  Which of the following is TRUE about the general adaptation syndrome? A.  In the mobilization stage, people use a variety […]

External link to Question : 51. At twelve months of age, Jordan classified as a securely : 1233749
Psychology

Question : 51. At twelve months of age, Jordan classified as a securely : 1233749

  51.  At twelve months of age, Jordan is classified as a securely attached child by his pediatrician on the basis of the criteria set by Mary Ainsworth. Which of the following behaviors in the strange situation would be most consistent with this classification? A.  Jordan is moderately distressed when his mother leaves him alone and is pleased when she returns. B.  Jordan is unconcerned […]

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July 1, 2023
    

 

 

21. The percentage-of-sales procedure arises from the idea that uncollectible amounts will vary with the volume of credit business. The firm estimates the appropriate percentage by studying its own experience or by inquiring into the experience of similar firms. Default rates generally fall within the range of .01% to .02% of credit sales. 
 

22. The percentage-of-completion method measures the proportion of total work carried out during the accounting period either from engineers' estimates of the degree of completion or from the ratio of costs incurred to date to the total costs expected for the entire contract. 
 

23. A common-size income statement expresses each expense and net income as a percentage of  
A. assets.
B. revenues.
C. liabilities.
D. expenses.
E. shareholders’ equity.

 

24. If the firm has received a promise of payment but cannot measure this promise with reasonable reliability,  
A. U.S. GAAP would permit revenue to be recognized, but IFRS would not permit revenue to be recognized.
B. U.S. GAAP would not permit revenue to be recognized, but IFRS would permit revenue to be recognized.
C. neither U.S. GAAP nor IFRS would permit revenue to be recognized.
D. U.S. GAAP and IFRS would permit revenue to be recognized.
E. none of the above

 

25. Which section includes income derived from a firm’s primary business activities as well as from activities peripherally related to operations? (The firm expects these sources of earnings to continue.)   
A. income from continuing operations
B. income, gains, and losses from discontinued operations
C. extraordinary gains and losses
D. retained earnings
E. paid-in-capital

 

26. Operating risks 
A. include variability in sales from changing economic conditions (cyclicality risk).
B. include variability in sales from short product life cycles (because of technological change or changes in consumer taste).
C. include variability of earnings that arises when the firm has a high proportion of fixed costs that do not change as sales change.
D. Answers a, b, and c are correct.
E. None of these answer choices is correct.

 

27. Ulrich Co. sells an asset to a buyer for a total sales price of $6,000 with a payment schedule of $2,000 in year 1, $2,000 in year 2, and $2,000 in year 3. The cost of the asset is $5,000. Under the cost-recovery-first method, what amount of net profit is recognized in year 3? 
A. $2,000
B. $1,000
C. $666.67
D. $333.33
E. $0

 

28. Which of the following is true regarding income recognition? 
A. The seller must have substantially performed its obligations to the customer (for example, by transferring ownership of goods to the customer).
B. The seller must have obtained an asset from the customer that it can reliably measure. If the asset is not cash, the seller must be reasonably certain of converting it into cash.
C. The firm recognizes expenses when it consumes assets.
D. If an event or transaction leads to the recognition of revenue, the firm matches the consumption of any assets (the expense), in time, with the revenue recognized.
E. all of the above

 

29. Cowden Properties

Cowden Properties sold a condominium to Ms. Roberts for $90,000. Cowden originally acquired the condo at a cost of $40,000 and made improvements to the unit totaling $20,000. The contract for sale required Ms. Roberts to pay the $90,000 as follows:

Year 1 - $ 5,000
Year 2 - $10,000
Year 3 - $30,000
Year 4 - $45,000

Refer to the Cowden Properties example. If Cowden uses the installment method, how much cost is recognized as expense in year 3? 
A. $10,000
B. $15,000
C. $20,000
D. $25,000
E. $30,000

 

30. Cowden Properties

Cowden Properties sold a condominium to Ms. Roberts for $90,000. Cowden originally acquired the condo at a cost of $40,000 and made improvements to the unit totaling $20,000. The contract for sale required Ms. Roberts to pay the $90,000 as follows:

Year 1 - $ 5,000
Year 2 - $10,000
Year 3 - $30,000
Year 4 - $45,000

Refer to the Cowden Properties example. Under the installment method, how much net profit would Cowden recognize in year 1? 
A. $1,667
B. $2,667
C. $3,333
D. $3,667
E. $5,000

 

 

default image
July 1, 2023
    

 

 

21. The percentage-of-sales procedure arises from the idea that uncollectible amounts will vary with the volume of credit business. The firm estimates the appropriate percentage by studying its own experience or by inquiring into the experience of similar firms. Default rates generally fall within the range of .01% to .02% of credit sales. 
 

22. The percentage-of-completion method measures the proportion of total work carried out during the accounting period either from engineers' estimates of the degree of completion or from the ratio of costs incurred to date to the total costs expected for the entire contract. 
 

23. A common-size income statement expresses each expense and net income as a percentage of  
A. assets.
B. revenues.
C. liabilities.
D. expenses.
E. shareholders’ equity.

 

24. If the firm has received a promise of payment but cannot measure this promise with reasonable reliability,  
A. U.S. GAAP would permit revenue to be recognized, but IFRS would not permit revenue to be recognized.
B. U.S. GAAP would not permit revenue to be recognized, but IFRS would permit revenue to be recognized.
C. neither U.S. GAAP nor IFRS would permit revenue to be recognized.
D. U.S. GAAP and IFRS would permit revenue to be recognized.
E. none of the above

 

25. Which section includes income derived from a firm’s primary business activities as well as from activities peripherally related to operations? (The firm expects these sources of earnings to continue.)   
A. income from continuing operations
B. income, gains, and losses from discontinued operations
C. extraordinary gains and losses
D. retained earnings
E. paid-in-capital

 

26. Operating risks 
A. include variability in sales from changing economic conditions (cyclicality risk).
B. include variability in sales from short product life cycles (because of technological change or changes in consumer taste).
C. include variability of earnings that arises when the firm has a high proportion of fixed costs that do not change as sales change.
D. Answers a, b, and c are correct.
E. None of these answer choices is correct.

 

27. Ulrich Co. sells an asset to a buyer for a total sales price of $6,000 with a payment schedule of $2,000 in year 1, $2,000 in year 2, and $2,000 in year 3. The cost of the asset is $5,000. Under the cost-recovery-first method, what amount of net profit is recognized in year 3? 
A. $2,000
B. $1,000
C. $666.67
D. $333.33
E. $0

 

28. Which of the following is true regarding income recognition? 
A. The seller must have substantially performed its obligations to the customer (for example, by transferring ownership of goods to the customer).
B. The seller must have obtained an asset from the customer that it can reliably measure. If the asset is not cash, the seller must be reasonably certain of converting it into cash.
C. The firm recognizes expenses when it consumes assets.
D. If an event or transaction leads to the recognition of revenue, the firm matches the consumption of any assets (the expense), in time, with the revenue recognized.
E. all of the above

 

29. Cowden Properties

Cowden Properties sold a condominium to Ms. Roberts for $90,000. Cowden originally acquired the condo at a cost of $40,000 and made improvements to the unit totaling $20,000. The contract for sale required Ms. Roberts to pay the $90,000 as follows:

Year 1 - $ 5,000
Year 2 - $10,000
Year 3 - $30,000
Year 4 - $45,000

Refer to the Cowden Properties example. If Cowden uses the installment method, how much cost is recognized as expense in year 3? 
A. $10,000
B. $15,000
C. $20,000
D. $25,000
E. $30,000

 

30. Cowden Properties

Cowden Properties sold a condominium to Ms. Roberts for $90,000. Cowden originally acquired the condo at a cost of $40,000 and made improvements to the unit totaling $20,000. The contract for sale required Ms. Roberts to pay the $90,000 as follows:

Year 1 - $ 5,000
Year 2 - $10,000
Year 3 - $30,000
Year 4 - $45,000

Refer to the Cowden Properties example. Under the installment method, how much net profit would Cowden recognize in year 1? 
A. $1,667
B. $2,667
C. $3,333
D. $3,667
E. $5,000

 

 

default image
July 1, 2023
    

 

 

21. The percentage-of-sales procedure arises from the idea that uncollectible amounts will vary with the volume of credit business. The firm estimates the appropriate percentage by studying its own experience or by inquiring into the experience of similar firms. Default rates generally fall within the range of .01% to .02% of credit sales. 
 

22. The percentage-of-completion method measures the proportion of total work carried out during the accounting period either from engineers' estimates of the degree of completion or from the ratio of costs incurred to date to the total costs expected for the entire contract. 
 

23. A common-size income statement expresses each expense and net income as a percentage of  
A. assets.
B. revenues.
C. liabilities.
D. expenses.
E. shareholders’ equity.

 

24. If the firm has received a promise of payment but cannot measure this promise with reasonable reliability,  
A. U.S. GAAP would permit revenue to be recognized, but IFRS would not permit revenue to be recognized.
B. U.S. GAAP would not permit revenue to be recognized, but IFRS would permit revenue to be recognized.
C. neither U.S. GAAP nor IFRS would permit revenue to be recognized.
D. U.S. GAAP and IFRS would permit revenue to be recognized.
E. none of the above

 

25. Which section includes income derived from a firm’s primary business activities as well as from activities peripherally related to operations? (The firm expects these sources of earnings to continue.)   
A. income from continuing operations
B. income, gains, and losses from discontinued operations
C. extraordinary gains and losses
D. retained earnings
E. paid-in-capital

 

26. Operating risks 
A. include variability in sales from changing economic conditions (cyclicality risk).
B. include variability in sales from short product life cycles (because of technological change or changes in consumer taste).
C. include variability of earnings that arises when the firm has a high proportion of fixed costs that do not change as sales change.
D. Answers a, b, and c are correct.
E. None of these answer choices is correct.

 

27. Ulrich Co. sells an asset to a buyer for a total sales price of $6,000 with a payment schedule of $2,000 in year 1, $2,000 in year 2, and $2,000 in year 3. The cost of the asset is $5,000. Under the cost-recovery-first method, what amount of net profit is recognized in year 3? 
A. $2,000
B. $1,000
C. $666.67
D. $333.33
E. $0

 

28. Which of the following is true regarding income recognition? 
A. The seller must have substantially performed its obligations to the customer (for example, by transferring ownership of goods to the customer).
B. The seller must have obtained an asset from the customer that it can reliably measure. If the asset is not cash, the seller must be reasonably certain of converting it into cash.
C. The firm recognizes expenses when it consumes assets.
D. If an event or transaction leads to the recognition of revenue, the firm matches the consumption of any assets (the expense), in time, with the revenue recognized.
E. all of the above

 

29. Cowden Properties

Cowden Properties sold a condominium to Ms. Roberts for $90,000. Cowden originally acquired the condo at a cost of $40,000 and made improvements to the unit totaling $20,000. The contract for sale required Ms. Roberts to pay the $90,000 as follows:

Year 1 - $ 5,000
Year 2 - $10,000
Year 3 - $30,000
Year 4 - $45,000

Refer to the Cowden Properties example. If Cowden uses the installment method, how much cost is recognized as expense in year 3? 
A. $10,000
B. $15,000
C. $20,000
D. $25,000
E. $30,000

 

30. Cowden Properties

Cowden Properties sold a condominium to Ms. Roberts for $90,000. Cowden originally acquired the condo at a cost of $40,000 and made improvements to the unit totaling $20,000. The contract for sale required Ms. Roberts to pay the $90,000 as follows:

Year 1 - $ 5,000
Year 2 - $10,000
Year 3 - $30,000
Year 4 - $45,000

Refer to the Cowden Properties example. Under the installment method, how much net profit would Cowden recognize in year 1? 
A. $1,667
B. $2,667
C. $3,333
D. $3,667
E. $5,000

 

 

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