Financial Accounting

1. Which of the following does NOT describe the role of the concept of maximizat

1. Which of the following does NOT describe the role of the concept of maximization in microeconomic theory? Maximization is the ability of a firm to produce a particular quantity…

1. Which of the following does not describe intangible assets? a. They lack phys

1. Which of the following does not describe intangible assets? a. They lack physical existence. b. They are financial instruments. c. They provide long-term benefits. d. They are …

1. Which of the following does not have the right to wind up the affairs of the

1. Which of the following does not have the right to wind up the affairs of the partnership? a. Surviving partners who are not bankrupt b. A court-appointed receiver c. Surviving …

1. Which of the following errors, considered individually, would cause the trial

1. Which of the following errors, considered individually, would cause the trial balance totals to be unequal? a) Cash received from a customer on account was posted as a credit o…

1. Which of the following events would be recognized under the financing activit

1. Which of the following events would be recognized under the financing activities section of the statement of cash flows? Please circle all that apply: I. Paid out a cash divide…

1. Which of the following forms the base of all operating budgets? a. dirct mate

1. Which of the following forms the base of all operating budgets? a. dirct materials purchases in units b. production budget (units) c. cpaital expenditures budget d. unit sales…

1. Which of the following groups contain only accounts that normally have credit

1. Which of the following groups contain only accounts that normally have credit balances? A. accounts receivable and fees income. B. salaries expense and accounts payable. C. fee…

1. Which of the following has an indefinite duration? a. Freehold Estate b. Less

1. Which of the following has an indefinite duration? a. Freehold Estate b. Less-than-freehold estate c. Estate for years d. License 2. The rights of the owner of property located…

1. Which of the following help firms determine thr actual implementation of thei

1. Which of the following help firms determine thr actual implementation of their distribution policy? Check all that apply. a. The level of debt and interest paymenrs b. The stab…

1. Which of the following identifies the proper order of the accounting cycle? A

1. Which of the following identifies the proper order of the accounting cycle? A. Analyze, Journalize, Unadjusted Trial Balance B. Analyze, Post, Unadjusted Trial Balance C. Journ…

1. Which of the following is (are) required to calculate MACRS depreciation? Sel

1. Which of the following is (are) required to calculate MACRS depreciation? Select all that applies. Annual maintenance costs Annual benefit Purchase cost Salvage value Property …

1. Which of the following is NOT a characteristic of a corporation? (Points : 3)

1. Which of the following is NOT a characteristic of a corporation? (Points : 3) Corporations are organized as a separate legal taxable entity. Ownership is divided into shares of…

1. Which of the following is NOT a characteristic of a corporation? (Points : 3)

1. Which of the following is NOT a characteristic of a corporation? (Points : 3) Corporations are organized as a separate legal taxable entity. Ownership is divided into shares of…

1. Which of the following is a characteristic of a good interview? a. make the i

1. Which of the following is a characteristic of a good interview? a. make the interview as concise as possible b. the interviewer should announce his or her bias at t…

1. Which of the following is a characteristic of a perpetual inventory system? a

1. Which of the following is a characteristic of a perpetual inventory system? a Purchases account. b. Inventory records are not kept for every item c. Cost of goods sold is reoor…

1. Which of the following is a characteristic of an annuity? a. Interest periods

1. Which of the following is a characteristic of an annuity? a. Interest periods of equal length. b. An equal dollar amount each interest period. c. An equal interest rate each in…

1. Which of the following is a claims exchange transaction? .Paid interest on Is

1. Which of the following is a claims exchange transaction? .Paid interest on Issued a note to Repaid principal d. Accrued on a note payable. ?. a note payable purchase equipment.…

1. Which of the following is a correct statement regarding a redemption to pay d

1. Which of the following is a correct statement regarding a redemption to pay death taxes under § 303? a.An estate recognizes gain on the redemption equal to the excess of the di…

1. Which of the following is a defensive mechanism against unfriendly takeovers?

1. Which of the following is a defensive mechanism against unfriendly takeovers? a. Greenmail b. Poison Pill c. Both A and B d. Forward vertical integration e. All of these 2. Whi…

1. Which of the following is a good reason for allocating indirect cost to opera

1. Which of the following is a good reason for allocating indirect cost to operating departments? a. To remind managers that revenues must cover indirect cost b. To recognize mat …

1. Which of the following is a nonvalue-added activity? Product design Customer

1. Which of the following is a nonvalue-added activity? Product design Customer service Research and development Rework of defective items 2. A company's break-even point will not…

1. Which of the following is a recordable event or item? Answer a. Changes in ma