Financial Accounting
168450 questions • Page 3023 / 3369
Which of the following costs is often important in decision making, but is omitt
Which of the following costs is often important in decision making, but is omitted from conventional accounting records? a. Fixed cost. b. Sunk cost. c. Opportunity cost. d. Indir…
Which of the following costs would be classified as product costs? Travel expens
Which of the following costs would be classified as product costs? Travel expenses to send sales personnel to conferences and utilities costs. Indirect labor and indirect material…
Which of the following could be preferential payments under the Bankruptcy code?
Which of the following could be preferential payments under the Bankruptcy code? You must also explain why? (each is worth 5 points for a total of 35 points) a. You pay back a $2,…
Which of the following could be preferential payments under the Bankruptcy code?
Which of the following could be preferential payments under the Bankruptcy code? You must also explain why? (each is worth 5 points for a total of 35 points) a. You pay back a $2,…
Which of the following could be preferential payments under the Bankruptcy code?
Which of the following could be preferential payments under the Bankruptcy code? You must also explain why? (each is worth 5 points for a total of 35 points) a. You pay back a $2,…
Which of the following could cause an increase in the demand for peanut butter?
Which of the following could cause an increase in the demand for peanut butter? Instructions: You may select more than one answer. Click the box with a check mark for correct answ…
Which of the following could not be the appropriate method used in evaluating pr
Which of the following could not be the appropriate method used in evaluating proposed capital investments Question 1 options: Net present value method Payback period method The c…
Which of the following describes retained earnings? Internally generated capital
Which of the following describes retained earnings? Internally generated capital that results from profitable business transactions Externally generated capital that is contribute…
Which of the following describes the differences between job-order and process c
Which of the following describes the differences between job-order and process costing? Job-order costing is used in financial accounting while process costing is used in manageri…
Which of the following differences would result in future taxable amounts? Answe
Which of the following differences would result in future taxable amounts? Answer Expenses or losses that are tax ded…
Which of the following distributions from a defined contribution plan would not
Which of the following distributions from a defined contribution plan would not be subject to a premature distribution penalty? Tyler, who is 28, leaves his current employer and h…
Which of the following do not apply to unearned revenues? A. Also called deferre
Which of the following do not apply to unearned revenues? A. Also called deferred revenues. B. Amounts received in advance from customers for future delivery of products or servic…
Which of the following do not serve as a source of data while preparing a cash b
Which of the following do not serve as a source of data while preparing a cash budget? A sales budget Collection records A budgeted balance sheet A budgeted income statement Which…
Which of the following do we assume to be true in the short run? Changes in wage
Which of the following do we assume to be true in the short run? Changes in wages and input prices are smaller than the changes in the prices of other goods and services (i.e. wag…
Which of the following does NOT fulfill the purpose of a capital market? A. To p
Which of the following does NOT fulfill the purpose of a capital market? A. To provide services across national borders B. To provide external financing through debt and equity C.…
Which of the following does NOT result from restricting output below the equilib
Which of the following does NOT result from restricting output below the equilibrium level of output? Profit is maximized. Some portion of consumer surplus is transferred to produ…
Which of the following does not accurately describe the process relating to the
Which of the following does not accurately describe the process relating to the dissolution of a partnership? A. If a partner fails to contribute the full amount required, all of …
Which of the following does not appear as a separatesection on the cash budget?
Which of the following does not appear as a separatesection on the cash budget? A. Cash receipts B. Cash disbursements C. Financing D. Capital expenditures The financing section o…
Which of the following does not apply when a civil or criminal action lawsuit is
Which of the following does not apply when a civil or criminal action lawsuit is brought against an auditor under the Securities Act of 1933? a. The auditor (defendant) may use "n…
Which of the following does not constitute PHC income? Dividend income None of t
Which of the following does not constitute PHC income? Dividend income None of these Interest income included in gross income Tax-exempt interest How many of the following stateme…
Which of the following does not describe the nature and extent of a CPA firm\'s
Which of the following does not describe the nature and extent of a CPA firm's quality control policies and procedures? a. Policies and procedures should minimize the risk of asso…
Which of the following does not describe the partnership form of organization? a
Which of the following does not describe the partnership form of organization? a. Partnerships allow numerous individuals to combine their efforts for a variety of business purpos…
Which of the following does not have the right to wind up the affairs of the par
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 par…
Which of the following does not result in a favorable direct materials price var
Which of the following does not result in a favorable direct materials price variance? A. Budgeted purchase prices of direct materials were set too low without careful analysis of…
Which of the following does the income statement disclose? net earnings (net inc
Which of the following does the income statement disclose? net earnings (net income) of a firm at a point in time. resources and equities of a firm for a period of time. net earni…
Which of the following economic characteristics is consistent with a grocery sto
Which of the following economic characteristics is consistent with a grocery store chain? Minimal Competition Extensive Competition High net Income to Sales Differentiated Product…
Which of the following employee characteristics have the greatest impact on empl
Which of the following employee characteristics have the greatest impact on employee behavior: general attitudes, job satisfaction, emotions and moods, personality, values, or per…
Which of the following entities is currently required to file Schedule M-3? A. A
Which of the following entities is currently required to file Schedule M-3? A. A foreign corporation with total assets of $50 million or more. B. A U.S. C corporation with total a…
Which of the following entries records the receipt of cash from customers on acc
Which of the following entries records the receipt of cash from customers on account? Accounts Payable, debit; Fees Earned, credit Accounts Receivable, debit; Fees Earned, credit …
Which of the following entries would be used to record the billing of fees earne
Which of the following entries would be used to record the billing of fees earned? A debit accounts receivable and credit renal fees B a debit to cash and a credit to capital C a …
Which of the following equations can be used to find the internal rate of return
Which of the following equations can be used to find the internal rate of return (i) for a project that has the following cash flow? -4000 + 150(P/G, i%, 4) + 850(P/A, i%, 4) + 40…
Which of the following equations is correct A. Sales revenue - variable expenses
Which of the following equations is correct A. Sales revenue - variable expenses - fixed expenses=operating income B. Sales revenue - fixed expenses + variable expenses - operatin…
Which of the following equations is used to calculate the cost of goods sold dur
Which of the following equations is used to calculate the cost of goods sold during the period? A. Beginning finished goods + cost of goods manufactured + e…
Which of the following errors would be disclosed by preparation of a trial balan
Which of the following errors would be disclosed by preparation of a trial balance? The collection of an account receivable was recorded by a debit to the Land account rather than…
Which of the following exchanges qualify as like-kind exchanges under Sec. 1031?
Which of the following exchanges qualify as like-kind exchanges under Sec. 1031? a. Acme Corporation stock held for investment purposes for Mesa Corporation stock also held for in…
Which of the following expenditures is most likely to be deductible for a constr
Which of the following expenditures is most likely to be deductible for a construction business? A. A fine for a zoning violation. B. A tax underpayment penalty. C. An "under the …
Which of the following expenses incurred by a department store is an indirect ex
Which of the following expenses incurred by a department store is an indirect expense? A-insurance on merchandise inventory B-sales salaries C-depreciation on store equipment D-sa…
Which of the following expenses would not appear on a selling and administrative
Which of the following expenses would not appear on a selling and administrative expense budget? A) Sales commissions B) Depreciation C) Property taxes D) Indirect labor 2. Boland…
Which of the following expenses would not be deductible on Schedule A as an empl
Which of the following expenses would not be deductible on Schedule A as an employee expense subject to the 2 percent of Adjusted Gross Income limitation? Cleaning expense for a N…
Which of the following explains why marginal cost rises continually after passin
Which of the following explains why marginal cost rises continually after passing a low level of output? A. The marginal product of a variable factor eventually declines as more o…
Which of the following explanations most likely would satisfy an auditor who que
Which of the following explanations most likely would satisfy an auditor who questions management about significant debits to the accumulated depreciation accounts in the current …
Which of the following factors in not taken into account when determining if a g
Which of the following factors in not taken into account when determining if a gain or loss should be recognized on the transfer of property to a corporation in exchange for a con…
Which of the following factors should an auditor consider most important upon su
Which of the following factors should an auditor consider most important upon subsequent discovery of facts that existed at the date of the audit report and would have affected th…
Which of the following factors should an auditor consider most important upon su
Which of the following factors should an auditor consider most important upon subsequent discovery of facts that existed at the date of the audit report and would have affected th…
Which of the following factors should an external auditor obtain updated informa
Which of the following factors should an external auditor obtain updated information about when assessing an internal auditor's competence? a. The reporting status of…
Which of the following factors would a court find most important in deciding who
Which of the following factors would a court find most important in deciding who bears the risk of loss between merchants when goods are destroyed during shipment? [Future account…
Which of the following features is not needed for price discrimination using a t
Which of the following features is not needed for price discrimination using a two-part tariff to work? The firm must have market power. The firm must be able to prevent resale. T…
Which of the following federal entities would be required to prepare a statement
Which of the following federal entities would be required to prepare a statement of custodial activity? A). Internal Revenue Service B). Department of commerce C). Department of e…
Which of the following financial statements would likely be the most effective i
Which of the following financial statements would likely be the most effective in conveying information to users that will help them to predict the long-term future cash flows of …
Which of the following five steps (out of six) of cost estimation is out of orde
Which of the following five steps (out of six) of cost estimation is out of order? A. Step 1: Define the cost object to be estimated. B. Step 2: Determine the cost driver(s). C. S…
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Financial Accounting
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