Financial Accounting

Which of the following statements about Government-wide financial statements is

Which of the following statements about Government-wide financial statements is false? A. Government-wide financial statements exclude information about fiduciary activities. B. G…

Which of the following statements about a corporation is not correct? A corporat

Which of the following statements about a corporation is not correct? A corporation is a separate legal entity. A corporation has easy transferability of ownership. A corporation …

Which of the following statements about activity-based costing (ABC) is False? A

Which of the following statements about activity-based costing (ABC) is False? A. ABC cannot be used by service businesses. B. ABC, in conjunction with activity-based management, …

Which of the following statements about an operating segment is true? A. An oper

Which of the following statements about an operating segment is true? A. An operating segment does not have to provide a balance sheet, only an income statement to be considered a…

Which of the following statements about an operating segment is true? A. An oper

Which of the following statements about an operating segment is true? A. An operating segment does not have to provide a balance sheet, only an income statement to be considered a…

Which of the following statements about an operating segment is true? A. An oper

Which of the following statements about an operating segment is true? A. An operating segment does not have to provide a balance sheet, only an income statement to be considered a…

Which of the following statements about bonds and notes is not correct? The jour

Which of the following statements about bonds and notes is not correct? The journal entry that records interest owed on bonds and notes includes a debit to interest Expense and a …

Which of the following statements about budgeting is incorrect?1) In the convent

Which of the following statements about budgeting is incorrect?1) In the conventional approach, the prior budget is used as the starting point. 2) In zero-based budgeting, the pri…

Which of the following statements about budgeting is incorrect?1) In the convent

Which of the following statements about budgeting is incorrect?1) In the conventional approach, the prior budget is used as the starting point. 2) In zero-based budgeting, the pri…

Which of the following statements about capital assets is false? a. Capital asse

Which of the following statements about capital assets is false? a. Capital assets are initially recorded at historical cost, including capitalized interest and any other costs ne…

Which of the following statements about children’s health in emerging Asia is tr

Which of the following statements about children’s health in emerging Asia is true? a. There is more inequality across the income distribution in terms of child underweight status…

Which of the following statements about contributions is false? A. Gifts of long

Which of the following statements about contributions is false? A. Gifts of long-lived assets received are also recognized as temporarily restricted revenues if the not-for-profit…

Which of the following statements about earnings and profits (E&P) is false ? A.

Which of the following statements about earnings and profits (E&P) is false? A. A corporation can make taxable dividend distributions if it has current E&P, notwithstandin…

Which of the following statements about earnings and profits (E&P) is false? A c

Which of the following statements about earnings and profits (E&P) is false? A corporation can make taxable dividend distributions if it has current E&P, notwithstanding t…

Which of the following statements about interest costs is correct? A) interest o

Which of the following statements about interest costs is correct? A) interest on money specifically borrowed to finance construction of an asset should be capitalized B) a propor…

Which of the following statements about management compensation is false? A. Mem

Which of the following statements about management compensation is false? A. Members of management are often paid based on the earnings of the company. B. A public corporation mus…

Which of the following statements about manufacturing in a traditional environme

Which of the following statements about manufacturing in a traditional environment is true? a. It is not desirable to accumulate raw materials inventory to serve as buffers in cas…

Which of the following statements about marginal utility is correct? a. When mar

Which of the following statements about marginal utility is correct?    a. When marginal utility is negative, an increase in the quantity will increase total utility.    b. When t…

Which of the following statements about methods of accounting for bad debts is c

Which of the following statements about methods of accounting for bad debts is correct? A. When the allowance method is used, the journal entry to write-off an uncollectible accou…

Which of the following statements about partnerships is true? A. Partnerships mu

Which of the following statements about partnerships is true? A. Partnerships must file their tax returns on a calendar year basis. B.Gain is never recognized by a partner on a co…

Which of the following statements about quality costs is true? a. Even in theory

Which of the following statements about quality costs is true? a. Even in theory, external failure costs can never be reduced to zero. b. The less a company spends on prevention c…

Which of the following statements about revenues and expenses is correct? Revenu

Which of the following statements about revenues and expenses is correct? Revenue is the same as cash. Both revenues and expenses typically have credit balances. Revenues and expe…

Which of the following statements about tax depreciation is true ? (a) A taxpaye

Which of the following statements about tax depreciation is true? (a)         A taxpayer may use any depreciation rate that is consistent with generally accepted accounting practi…

Which of the following statements about the Accumulated Depreciation account are

Which of the following statements about the Accumulated Depreciation account are true? (You may select more than one answer.) A. This contra-account is subtracted when determining…

Which of the following statements about the Price/Earnings ratio is not correct?

Which of the following statements about the Price/Earnings ratio is not correct? 1.If the market price of the stock increases and there is no change in EPS, the Price/Earnings rat…

Which of the following statements about the cash budget is not correct? The cash

Which of the following statements about the cash budget is not correct? The cash budget is prepared after the sales budget and other budgets have been prepared O Generally speakin…

Which of the following statements about the composition of the labor force is co

Which of the following statements about the composition of the labor force is correct? Flag this Question Question 100.2 pts Holding all else constant, if people who are currently…

Which of the following statements about the direct/indirect cost classification

Which of the following statements about the direct/indirect cost classification is true? Indirect costs are always allocated. Indirect costs are always traced. The direct/indirect…

Which of the following statements about the direct/indirect cost classification

Which of the following statements about the direct/indirect cost classification is true? Indirect costs are always allocated. Indirect costs are always traced. The direct/indirect…

Which of the following statements about the equity growth rate is correct ? I. t

Which of the following statements about the equity growth rate is correct? I. the higher the ROCE the higher equity growth rate, all other things equal II. the higher the dividend…

Which of the following statements about the limitations of Value Chain Analysis

Which of the following statements about the limitations of Value Chain Analysis is false? a. Truly comparable activities may be difficult to identify. b. Information may be diffic…

Which of the following statements about the lower of cost or market rule is not

Which of the following statements about the lower of cost or market rule is not correct? A.The lower of cost or market rule sometimes causes the book value of inventory to be writ…

Which of the following statements about the need to make accrual adjustments at

Which of the following statements about the need to make accrual adjustments at the end of the accounting period is not correct ? A. The cash account should be adjusted for the ef…

Which of the following statements about the need to make accrual adjustments at

Which of the following statements about the need to make accrual adjustments at the end of the accounting period is not correct? a. Certain events occur over time that would be to…

Which of the following statements about the provision of public goods is true? a

Which of the following statements about the provision of public goods is true? a. Public goods are generally provided by government because there are usually large external costs …

Which of the following statements about the statement of cash flows is not corre

Which of the following statements about the statement of cash flows is not correct? It does not replace the income statement. It provides details as to how cash changed during a p…

Which of the following statements about the statement of cash flows is not corre

Which of the following statements about the statement of cash flows is not correct? A) GAAP requires every company to report a statement of cash flows. B) The statement of cash fl…

Which of the following statements about the theory of constraints is (are) true?

Which of the following statements about the theory of constraints is (are) true? (A) The theory of constraints focuses on determining the optimal product mix when one or more reso…

Which of the following statements about the unadjusted trial balance is not corr

Which of the following statements about the unadjusted trial balance is not correct? You can assume that no errors were made in the recording of transactions if total debits equal…

Which of the following statements accurately describes changes in the Qualifying

Which of the following statements accurately describes changes in the Qualifying Widow(er) (QW) tax filing status for Tax Year 2017? The taxpayer is entitled to file a joint retur…

Which of the following statements appearing in the federal government consolidat

Which of the following statements appearing in the federal government consolidated financial reports are prepared on the accrual basis of accounting? A). Statement of cash flow B)…

Which of the following statements are correct when conducting a market multiples

Which of the following statements are correct when conducting a market multiples valuation analysis: I. Peer firms should have similar future growth, profitability, and risk chara…

Which of the following statements are false? Circle all that apply: I. The state

Which of the following statements are false? Circle all that apply: I. The statement of cash flows helps users see the reasons for the difference between net income and net cash p…

Which of the following statements are true about the accounting transactions? Se

Which of the following statements are true about the accounting transactions? Select all that apply Transactions occur when a source document (e.g., a billing) arrives, a time-bas…

Which of the following statements are true about the balance sheet? Select all t

Which of the following statements are true about the balance sheet? Select all that apply. It a snapshot of a company’s assets, liabilities and equity at a specific time in point.…

Which of the following statements are true about what happens when the percentag

Which of the following statements are true about what happens when the percentage of selling and administrative overhead attributable to processing orders declines and the percent…

Which of the following statements are true concerning the predetermined overhead

Which of the following statements are true concerning the predetermined overhead rate when the direct labor-hour requirement for the Deluxe model dropped from 5 hours to 2 hours? …

Which of the following statements are true of long-term investments? They are he

Which of the following statements are true of long-term investments? They are held as an investment of cash available for current operations. They can include funds earmarked for …

Which of the following statements are true regarding Activity-Based Costing? Sel

Which of the following statements are true regarding Activity-Based Costing? Select one: A. Non-manufacturing costs are not important to include when calculating the cost of each …

Which of the following statements are true regarding dividends? (You may select

Which of the following statements are true regarding dividends? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a cor…