Financial Accounting

Which of the following is not true when the fair value option is elected for an

Which of the following is not true when the fair value option is elected for an investment that would normally be accounted for under the equity method? Multiple Choice A. No jour…

Which of the following is not true? (Points : 5) The net increase/decrease of ca

Which of the following is not true? (Points : 5) The net increase/decrease of cash on the statement of cash flow should reconcile the beginning and ending balances on the balance …

Which of the following is not true? A. The departmental overhead method assigns

Which of the following is not true? A. The departmental overhead method assigns overhead on the basis of volume-related measures. B. The departmental overhead rate method is more …

Which of the following is not true? An internal audit is never performed by exte

      Which of the following is not true? An internal audit is never performed by external auditors The primary goals of an internal audit and an external audit are somewhat diffe…

Which of the following is not true? Overhead costing accuracy is improved by the

Which of the following is not true? Overhead costing accuracy is improved by the use of multiple departmental rates rather than a single overhead rate. The departmental overhead m…

Which of the following is not true? Overhead costing accuracy is improved by the

Which of the following is not true? Overhead costing accuracy is improved by the use of multiple departmental rates rather than a single overhead rate. The departmental overhead m…

Which of the following is not typically a characteristic experienced by a compan

Which of the following is not typically a characteristic experienced by a company during the growth phase of the corporate life cycle? Answer Cash from operations on the statement…

Which of the following is ordinarily considered an \"extended procedure\" in the

Which of the following is ordinarily considered an "extended procedure" in the external auditors' independent audits of financial statements? (a) 7. (b) (c) (d) Perform physical o…

Which of the following is responsible for auditing the federal government consol

Which of the following is responsible for auditing the federal government consolidated financial statements? Congressional budget office, FASAB, office of management and budget, O…

Which of the following is responsible for withholding tax payments from payments

Which of the following is responsible for withholding tax payments from payments to s foreign entity. I. Employee. II. Fiduciaries. III. Mortgagors of real property. IV. Leaders o…

Which of the following is something you can\'t do with Management Reports? A. Ex

Which of the following is something you can't do with Management Reports? A. Export as a Word document B. Name the title of the report C. Customize and add new reports D. Add addi…

Which of the following is talse? O If a company uses the percent of receivables

Which of the following is talse? O If a company uses the percent of receivables method to estimate uncollectible accounts, the company will first determine the required ending bal…

Which of the following is the appropriate general journal entry to record the de

Which of the following is the appropriate general journal entry to record the declration of cash dividends ? A. Cash dividend Cash B. Dividends Payable Cash C. Paid-in Capital Div…

Which of the following is the best definition of a financial intermediary? Finan

Which of the following is the best definition of a financial intermediary? Financial intermediaries act as a go-between linking savers and borrowers by issuing their own liabiliti…

Which of the following is the best definition of fixed costs? The costs associat

Which of the following is the best definition of fixed costs? The costs associated with capital input. The long-run total costs paid by an operating firm. The short-run costs paid…

Which of the following is the best description of accounting\'s role in business

Which of the following is the best description of accounting's role in business? Accounting helps in decreasing the credit risk of the company. Accounting provides stockholders wi…

Which of the following is the best description of investments in trading securit

Which of the following is the best description of investments in trading securities? Investments in bonds that management intends to hold to maturity. Investments in stocks or bon…

Which of the following is the best description of investments in trading securit

Which of the following is the best description of investments in trading securities? Investments in bonds that management intends to hold to maturity. Investments in stocks or bon…

Which of the following is the correct interpretation of a degree of operating le

Which of the following is the correct interpretation of a degree of operating leverage of 5? Multiple Choice Ovelofsalos wm ht to breakaon port rang lowage of 5 mars thit sales ca…

Which of the following is the correct treatment within the operating activities

Which of the following is the correct treatment within the operating activities section of the statement of cash flows using the indirect method? The change in Accounts Receivable…

Which of the following is the first step in the decision for a business to expan

Which of the following is the first step in the decision for a business to expand globally? determining which foreign markets to enter determining how much it will cost to enter a…

Which of the following is the journal entry that will be used to record activity

Which of the following is the journal entry that will be used to record activity Made payments to suppliers on account, $5,000. Debit Operating Expense and credit Cash for $5,000 …

Which of the following is the pattern of imports and exports that occurs in the

Which of the following is the pattern of imports and exports that occurs in the absence of trade barriers? A. Normal trade relations B. Trade balance C. Trade surplus D. Free trad…

Which of the following is the primary element that distinguishes accounting for

Which of the following is the primary element that distinguishes accounting for corporations from accounting for other legal forms of business entity (such as partnerships)? A. Th…

Which of the following is the return a company is able to earn on funds invested

Which of the following is the return a company is able to earn on funds invested by shareholders? Return on total assets Return on common stockholders’ equity Price-earning ratio …

Which of the following is true about budgetary slack? A) Budgetary slack fails t

Which of the following is true about budgetary slack? A) Budgetary slack fails to provide managers with a hedge against unexpected adverse circumstances. B) Budgeting is most effe…

Which of the following is true about forecasts? Forecasts present what managemen

Which of the following is true about forecasts? Forecasts present what management believes would occur based on hypothetical assumptions in a "what if" scenario. Forecasts present…

Which of the following is true about how quality improvements affect the cost of

Which of the following is true about how quality improvements affect the cost of quality? A) Some managers believe they should eliminate all failure costs and have zero defects. B…

Which of the following is true about investment in research and development? A)

Which of the following is true about investment in research and development? A) The option side of R&D investments is not related to real options. B) Companies are unable to i…

Which of the following is true about investment in research and development? A)

Which of the following is true about investment in research and development? A) The option side of R&D investments is not related to real options. B) Companies are unable to i…

Which of the following is true about series LLC\'s in Texas? a. None of the othe

Which of the following is true about series LLC's in Texas? a. None of the other choices are correct. b. If a series LLC has one member, the series LLC can elect to file its feder…

Which of the following is true about the impairment of goodwill subsequent to th

Which of the following is true about the impairment of goodwill subsequent to the acquisition of the the impairment of goodwill has to be performed only in periods in which there …

Which of the following is true about the terms \"data\" and \"information\" with

Which of the following is true about the terms "data" and "information" within the context of Chapter 1? These terms are exactly the same These terms are exact opposites Some "dat…

Which of the following is true concerning break-even analysis? As variable costs

Which of the following is true concerning break-even analysis? As variable costs increase, the volume needed to break-even goes down. As fixed costs decrease, the volume needed to…

Which of the following is true concerning the treasury stock approach in account

Which of the following is true concerning the treasury stock approach in accounting for a subsidiary's investment in parent company stock? A. The original cost of the subsidiary's…

Which of the following is true if the firm uses FIFO for inventories of goods it

Which of the following is true if the firm uses FIFO for inventories of goods it sells to its customers and if those costs are decreasing over time? Question 4 options: FIFO will …

Which of the following is true if the firm uses FIFO for inventories of goods it

Which of the following is true if the firm uses FIFO for inventories of goods it sells to its customers and if those costs are decreasing over time? Question 4 options: FIFO will …

Which of the following is true of Ferdinand VII after his restoration to the Spa

Which of the following is true of Ferdinand VII after his restoration to the Spanish throne in 1814? A He restricted freedoms and abolished the constitution of 1812 B He attempted…

Which of the following is true of ISO 9000? Which of the following is true of IS

Which of the following is true of ISO 9000? Which of the following is true of ISO 9000? It is a quality management system comprising different process improvement such as six sigm…

Which of the following is true of advertising? It is one-way communication trans

Which of the following is true of advertising? It is one-way communication transmitted through mass media. It Is biggest advantage is that it offers rich, two-way communication be…

Which of the following is true of average fixed costs in the long run? a. Averag

Which of the following is true of average fixed costs in the long run? a. Average fixed costs start increasing. b. Average fixed costs are above average variable costs. c. Average…

Which of the following is true of comprehensive income? A. All items included in

Which of the following is true of comprehensive income? A. All items included in comprehensive income enter into the determination of net income. B. Comprehensive income cannot be…

Which of the following is true of consolidated statements? A. They combine the b

Which of the following is true of consolidated statements? A. They combine the balance sheets, income statements, and statements of cash flows of the parent company with those of …

Which of the following is true of distributable net income (DNI)? A. It is compo

Which of the following is true of distributable net income (DNI)? A. It is compotes by reference to the treatment of items B. It is only necessary to be computed for a complex tru…

Which of the following is true of the Discount on Bonds Payable account? The bon

Which of the following is true of the Discount on Bonds Payable account? The bonds are due in ten years. O A. It is added to the Bonds Payable balance and shown with long-term lia…

Which of the following is true of the Federal Reserve Board (the Fed)? O The pre

Which of the following is true of the Federal Reserve Board (the Fed)? O The premium rate is the rate that the Fed charges to loan money to banking institutions. O The Fed is the …

Which of the following is true of the alternative minimum tax? a. The alternativ

Which of the following is true of the alternative minimum tax? a. The alternative minimum tax is designed to ensure that high income taxpayers do not pay excessive amounts of inco…

Which of the following is true of the assets of a partnership? A. Any new assets

Which of the following is true of the assets of a partnership? A. Any new assets purchased by the partnership are jointly owned by each partner. B. The partner who is more activel…

Which of the following is true of the full cost and successful efforts accountin

Which of the following is true of the full cost and successful efforts accounting methods? A. In any given year, income under the full cost method is always higher than under the …

Which of the following is true regarding business process outsourcing? a. Outsou

Which of the following is true regarding business process outsourcing? a. Outsourcing a core, high-risk business process reduces the overall operational risks. b. Outsourced proce…