Financial Accounting
168450 questions • Page 3017 / 3369
When considering the time value of money, one uses discounting to find the value
When considering the time value of money, one uses discounting to find the value of money to be received Which of the following methods for evaluating capital Investment proposals…
When considering the use of the U.S. Court of Federal Claims as the trial court
When considering the use of the U.S. Court of Federal Claims as the trial court for Federal tax litigation, indicate whether each of the following is "True" or "False". The taxpay…
When consumers make a purchase, they progress through a series of behaviors. The
When consumers make a purchase, they progress through a series of behaviors. The consumer decision making process describes those behaviors and the activities that take place at e…
When costs are rising over time: LIFO results in higher profits that FIFO. Cost
When costs are rising over time: LIFO results in higher profits that FIFO. Cost of goods sold using the weighted average method will be greater than LIFO cost of goods sold. endin…
When dealing with issues such as professional ethics, the stakes can be high. Th
When dealing with issues such as professional ethics, the stakes can be high. This is why such care is taken to painstakingly clarify terms such as integrity and independence in t…
When demand for a firm\'s product increases, the firm can take a number of steps
When demand for a firm's product increases, the firm can take a number of steps to increase quantities supplied to the market. Some are listed below. Rank them by how quickly the …
When demand is elastic, marginal revenue is negative. the percentage change in p
When demand is elastic, marginal revenue is negative. the percentage change in price exceeds the percentage change in quantity. an increase in price causes total revenue to rise. …
When demand is unit elastic, price elasticity of demand Answer a. equals 1, and
When demand is unit elastic, price elasticity of demand Answer a. equals 1, and total revenue and price move in opposite directions. b. equals 1, and total revenue and price move …
When depreciation is computed for partial periods under a decreasing charge depr
When depreciation is computed for partial periods under a decreasing charge depreciation method, it is necessary to a. charge a full year's depreciation to the year of acquisition…
When determining the amount of interest to be paid on a bond, which of the follo
When determining the amount of interest to be paid on a bond, which of the following information is not necessary? The face amount of the bonds The selling price of the bonds The …
When determining the amount of interest to be paid on a bond, which of the follo
When determining the amount of interest to be paid on a bond, which of the following information is not necessary? the face amount of the bonds the selling price of the bond The f…
When do I use the Present value of 1 table or the present value of an annuity ta
When do I use the Present value of 1 table or the present value of an annuity table? I thought since cash in flow are equal yearly, I only use one factor of the present value. Is …
When does Ford credit recognize bad debt expense associated with a new car loan?
When does Ford credit recognize bad debt expense associated with a new car loan? Every individual has a credit score, which is an approximate measures of the risk of loan defaults…
When does SurveyMonkey recognize revenue from its Platinum annual subscription p
When does SurveyMonkey recognize revenue from its Platinum annual subscription plans? SurveyMonkey is an online survey company that allows its subscribers to customize and adminis…
When employees pay dues to a union, the benefit is that they can rely on the uni
When employees pay dues to a union, the benefit is that they can rely on the union to protect them and be their bargaining agent. This is known as union shop. A closed shop. Job s…
When employers hired college graduates in accounting (for example), they know th
When employers hired college graduates in accounting (for example), they know these graduates can practice accounting principles but they also want to know more general things abo…
When entering customer master data into the SAP system there should be segregati
When entering customer master data into the SAP system there should be segregation of duties. Which activity should the sales staff not be allowed to enter? Customer name and addr…
When expenses and revenues are equal, this is known as the “break-even point” or
When expenses and revenues are equal, this is known as the “break-even point” or BEP. To determine break-even, an examination of fixed and variable costs (expenses) in relationshi…
When goods are completed and come off the assembly line A) Cost of Goods Sold is
When goods are completed and come off the assembly line A) Cost of Goods Sold is debited and finished goods is credited B) Work-in process inventory is debited and finished goods …
When iRobot launched the Roomba (a robotic vacuum cleaner), in spite of highly c
When iRobot launched the Roomba (a robotic vacuum cleaner), in spite of highly complex robotics and components, they decided to charge a very affordable price for the product ($20…
When interest is calculated for periods shorter than a year, the formula to calc
When interest is calculated for periods shorter than a year, the formula to calculate interest is: A. I = P × R × T, where I = interest calculated, P = principal, R = annual inter…
When interest rates move up or down, bond prices move: in the opposite direction
When interest rates move up or down, bond prices move: in the opposite direction in the same direction in the opposite direction and further the longer is the term until maturity …
When inventory that was contributed to a partnership in exchange for a partnersh
When inventory that was contributed to a partnership in exchange for a partnership interest is eventually sold by the partnership, how will the character of the income or loss be …
When is the equity method used to account for long-term investments in stocks? a
When is the equity method used to account for long-term investments in stocks? a)When the investment is between 20 - 50% of the voting stock, regardless of whether or not signific…
When is the equity method used to account for long-term investments in stocks? a
When is the equity method used to account for long-term investments in stocks? a)When the investment is between 20 - 50% of the voting stock, regardless of whether or not signific…
When it comes to collecting information from the taxpayer for use in the prepara
When it comes to collecting information from the taxpayer for use in the preparation of the return, the practitioner: A. may use a client organizer to collect the information nece…
When jobs are completed, the total cost of the job is recorded as a debit to Fin
When jobs are completed, the total cost of the job is recorded as a debit to Finished goods and a credit to Work in process. When jobs are completed, the total cost of the job is …
When lifo is strictly applied to a perpetual inventory system, the unit cost pri
When lifo is strictly applied to a perpetual inventory system, the unit cost prices assigned to the ending inventory will not necessarily be those associated with the earliest uni…
When low income countries begin to experience economic growth, they often do so
When low income countries begin to experience economic growth, they often do so at rates much higher than current growth rates of industrial nations. Which of the following does N…
When making the determination of whether or not a selling price should be increa
When making the determination of whether or not a selling price should be increased there are many different aspects to take into consideration. Paulsen Company sells only one pro…
When marginal revenue is zero, P < M R. P = MR . a small increase in price cause
When marginal revenue is zero, P< MR. P= MR. a small increase in price causes no change in total revenue. a small decrease in price causes no change in total revenue. both c an…
When materials are requisitioned from the Raw Materials Inventory they can be cl
When materials are requisitioned from the Raw Materials Inventory they can be classified as either direct materials (which are traced directly to the job) or indirect materials (w…
When more hours of abor time are necessaryto complete a job than the tandard all
When more hours of abor time are necessaryto complete a job than the tandard allows, the labor ratevariance is O True O False QUESTION 2 Zanny Electronics Company uses a standard …
When most economists wake up in the morning, their first decision is whether or
When most economists wake up in the morning, their first decision is whether or not to his the snooze button on the alarm clock. A) I had a really late night grading exams, and I …
When one uses the indirect method, what should be added to net income in determi
When one uses the indirect method, what should be added to net income in determining net cash flow from operating activities? Answer a. Decrease in accounts receivable b. Decrease…
When only two treatments are involved, ANOVA and the Student t test (Chapter 11)
When only two treatments are involved, ANOVA and the Student t test (Chapter 11) result in the same conclusions. Also, . As an example, suppose that 14 randomly selected students …
When only two treatments are involved, ANOVA and the Student t test (Chapter 11)
When only two treatments are involved, ANOVA and the Student t test (Chapter 11) result in the same conclusions. Also, . As an example, suppose that 14 randomly selected students …
When originally purchased, a vehicle had an estimated useful life of 10 years. T
When originally purchased, a vehicle had an estimated useful life of 10 years. The vehicle cost $45,000 and its estimated residual value is $4,000. After 3 years of straight-line …
When originally purchased, a vehicle had an estimated useful life of 8 years. Th
When originally purchased, a vehicle had an estimated useful life of 8 years. The vehicle cost $43,000 and its estimated residual value is $3,000. After 3 years of straight-line d…
When originally purchased, a vehicle had an estimated useful life of 9 years. Th
When originally purchased, a vehicle had an estimated useful life of 9 years. The vehicle cost $52,000 and its estimated residual value is $4,000. After 3 years of straight-line d…
When performing a financial type of audt for a governmental entity, auditors gen
When performing a financial type of audt for a governmental entity, auditors generally do not report on O internal control. whether generally accepted accounting principles have b…
When performing a review of interim financial information of a publicly traded c
When performing a review of interim financial information of a publicly traded company, the independent accountant is trying to determine if: (a) The financial statements are prep…
When planning a financial statement audit, a CPA must understand audit risk and
When planning a financial statement audit, a CPA must understand audit risk and its components. The firm of Pack & Peck evaluates the risk of material misstatement (RMM) by di…
When preferred stock is cumulative, preferred dividends not declared in a period
When preferred stock is cumulative, preferred dividends not declared in a period are never paid. called dividends in arrears. considered a liability. distributions of earnings. Ca…
When preparing a company’s flexible budget, which manufacturing cost(s) will cha
When preparing a company’s flexible budget, which manufacturing cost(s) will change as the volume increases or decreases? (You may select more than one answer. Single click the bo…
When preparing a statement of cash flow on the indirect method, which of the fol
When preparing a statement of cash flow on the indirect method, which of the following is true: A. A loss on the sale of land should be added to the net income in the operating ac…
When preparing a statement of cash flow using the indirect method, I know we sta
When preparing a statement of cash flow using the indirect method, I know we start with the net income amount from the income statement and make adjustments to non cash expenses s…
When preparing its planning budget the company estimated that it would serve 40
When preparing its planning budget the company estimated that it would serve 40 customers per month; however, during May the company actually served 45 customers. A. What net ope…
When preparing the Statement of Cash Flow using the indirect method for the curr
When preparing the Statement of Cash Flow using the indirect method for the current year, which of the following statements would describe the proper presentation of a increase in…
When preparing the statement of cash flows by the indirect method, if current li
When preparing the statement of cash flows by the indirect method, if current liabilities increase the difference is A. Added to net income B. Added to investments C. Deducted fro…
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Financial Accounting
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