Financial Accounting
168450 questions • Page 85 / 3369
1. A company with a degree of operating leverage of 4 would expect net operating
1. A company with a degree of operating leverage of 4 would expect net operating income to increase by 200% if sales increased from $100,000 to $150,000. A) True B) False 2. For a…
1. A company\'s Pretax Financial Income amount is determined based on which of t
1. A company's Pretax Financial Income amount is determined based on which of the following? a. Financial Accounting Standards Board (FASB) Pronouncements b. Securities and Exchan…
1. A company\'s beginning work in process inventory consisted of 20,000 units th
1. A company's beginning work in process inventory consisted of 20,000 units that were 1/5 complete with respect to direct labor. These beginning units were completed and another …
1. A company\'s current-year Income Statement and selected Balance Sheet data at
1. A company's current-year Income Statement and selected Balance Sheet data at December 31 of the current and prior years follow. In good order and form, prepare the operating ac…
1. A company\'s fiscal year may: Select one: A. Be any portion of a year includi
1. A company's fiscal year may: Select one: A. Be any portion of a year including a month or quarter B. Be for a period either greater or less than 12 months C. Be the same as the…
1. A company\'s flexible budget for the range of 26,000 units to 40,000 units of
1. A company's flexible budget for the range of 26,000 units to 40,000 units of production showed variable overhead costs of $3.80 per unit and fixed overhead costs of $69,000. Th…
1. A company‘s financial statements reflect information about: a) future project
1. A company‘s financial statements reflect information about: a) future projections o‘ sa.es excesses. and other future economic events. b) product information and competitive po…
1. A complete income statement potentially has the following sections: (1 point)
1. A complete income statement potentially has the following sections: (1 point) a. Items from continuing operations and earnings per share for a corporation. b. Income or loss fr…
1. A computer company has $2,800,000 in research and development costs. Before a
1. A computer company has $2,800,000 in research and development costs. Before accounting for these costs, the net income of the company is $2,000,000. What is the amount of net i…
1. A condensed income statement for Tramco follows: (amounts are in thousands of
1. A condensed income statement for Tramco follows: (amounts are in thousands of dollars) Products Sales (total) $200 $180 $320 $700 Unit-level Variable Cost (total) (120) (16…
1. A consolidated group reports a net operating loss for the tax year. As a resu
1. A consolidated group reports a net operating loss for the tax year. As a result: a.The group carries the loss back 1 year and forward 5 years. b.The group carries the loss forw…
1. A copyright: a. Gives its owner the exclusive right to publish and sell a mus
1. A copyright: a. Gives its owner the exclusive right to publish and sell a musical or literary work during the life of the creator plus 70 years b. Is an exclusive right granted…
1. A corporation has which of the following set of characteristics? a. Shared co
1. A corporation has which of the following set of characteristics? a. Shared control, tax advantages, increased skills and resources b. Simple to set …
1. A corporation issued 8,000 shares of $20 par value common stock for $192,000
1. A corporation issued 8,000 shares of $20 par value common stock for $192,000 cash 2. A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for t…
1. A corporation sells property (basis of $500,000) to its sole shareholder for
1. A corporation sells property (basis of $500,000) to its sole shareholder for $450,000, the fair market value of the property. With respect to the sale: Does the corporation hav…
1. A corporation sells property (basis of $500,000) to its sole shareholder for
1. A corporation sells property (basis of $500,000) to its sole shareholder for $450,000, the fair market value of the property. With respect to the sale: Does the corporation hav…
1. A corporation sold 10,000 shares of its $2 par value common stock at a cash p
1. A corporation sold 10,000 shares of its $2 par value common stock at a cash price of $7 per share. The entry to record this transaction would include: A. A debit to Paid-i…
1. A corporation with a taxable income of $50 million is considering a new ventu
1. A corporation with a taxable income of $50 million is considering a new venture that would generate an additional $500,000 per year in taxable income. How much additional feder…
1. A cost of production report in a process cost system is a managerial accounti
1. A cost of production report in a process cost system is a managerial accounting report that describe: a. The costs charged to a department b. The equivalent units of production…
1. A cost pool is : A. a collection of homogeneous cost to be assigned. B. almos
1. A cost pool is : A. a collection of homogeneous cost to be assigned. B. almost always the combined result of decision made by different responsibility center manager. C. The pr…
1. A county includes outstanding encumbrances as expenditures (legal basis) when
1. A county includes outstanding encumbrances as expenditures (legal basis) when comparing expenditures to budgeted appropriations. To arrive at GAAP basis expenditures, the legal…
1. A data series required one seasonal difference and two non seasonal differenc
1. A data series required one seasonal difference and two non seasonal differences to make it stationary. You have found two early spikes in the partial autocorrelation function a…
1. A decision whether to borrow money or sell stock is an example of (Points : 2
1. A decision whether to borrow money or sell stock is an example of (Points : 2) 2. 3. (Points : 2) $20,000 $0 >$20,000 $5,000 $15,000 $5,000 $15,000 $0 4. A transaction is (P…
1. A department store sells gift certificates that are redeemable for merchandis
1. A department store sells gift certificates that are redeemable for merchandise. Each certificate expires three years after the date of issuance. The revenue from the gift certi…
1. A deposit in the amount of $15200 made on May 31 was not reported on the bank
1. A deposit in the amount of $15200 made on May 31 was not reported on the bank statement. A deposit of $3600 was made on June 4. Because the deposit was made after the statement…
1. A direct materials quantity standard generally includes an allowance for wast
1. A direct materials quantity standard generally includes an allowance for waste. True False 2. A materials price variance is unfavorable if the actual price exceeds the standar…
1. A disadvantage of the corporate form of business entity is a. mutual agency f
1. A disadvantage of the corporate form of business entity is a. mutual agency for stockholders b. unlimited liability for stockholders c. corporations are subject to more governm…
1. A fellow student says to you: \"The statement of cash flows is the easiest of
1. A fellow student says to you: "The statement of cash flows is the easiest of the basic financial statements to prepare because you know the answer before you start. You compar…
1. A firm can sell its good in the US, where the elasticity of demand is 10.51 ,
1. A firm can sell its good in the US, where the elasticity of demand is 10.51 , and in South Korea, where the elasticity of demand is 141 . How should the firm alter its pricing …
1. A firm is considering 2 options: A B First cost 10.7K 5.5K Annual benefits 2.
1. A firm is considering 2 options: A B First cost 10.7K 5.5K Annual benefits…
1. A firm is considering a project requiring an investment of $30,000. The proje
1. A firm is considering a project requiring an investment of $30,000. The project would generate an annual cash flow of $7,251 for the next six years. The company uses the straig…
1. A firm is considering two mutually exclusive investments, each with an initia
1. A firm is considering two mutually exclusive investments, each with an initial outlay of $10,000 and an expected life of 3 years. Assume that the firm has a cost of capital of …
1. A firm is considering two projects, A and B, with the following probability d
1. A firm is considering two projects, A and B, with the following probability distributions for profit Profit ($1,000s) $ 20 40 60 80 100 Project A Probability (96) 10 15 50 15 1…
1. A firm issues its 10-year, 9%, $500,000 Par value bonds at a selling price of
1. A firm issues its 10-year, 9%, $500,000 Par value bonds at a selling price of 92 percentages. The company uses the straight-line method to amortize bond premiums and discounts.…
1. A firm you are analyzing has had the following returns the past 5 years: 7.0%
1. A firm you are analyzing has had the following returns the past 5 years: 7.0%, 6.0%, -4.0%, 3.0% and 2.0 %. What are the standard deviation and variance of the past five year r…
1. A firm\'s independent auditors have the responsibility to: a. assess the firm
1. A firm's independent auditors have the responsibility to: a. assess the firm's accounting policies. b. ascertain the firm's profit potential. c. uncover all fraudulent activiti…
1. A firm\'s taxable income is $12M; calculate tax expense. (A tax table follows
1. A firm's taxable income is $12M; calculate tax expense. (A tax table follows.) (a) $4,100,000 (b) $4,088,250 (c) $5,100,000 (d) $5,088,250 Taxable Income Rate Taxable Income Ra…
1. A flexible budget expresses variable costs on a per unit basis and fixed cost
1. A flexible budget expresses variable costs on a per unit basis and fixed costs on a total basis. True False 2. Another name for a static budget is a variable budget. True False…
1. A food truck orders red cabbage to make for a spicy cole slaw for lunch order
1. A food truck orders red cabbage to make for a spicy cole slaw for lunch orders, typically going through 46 red cabbages per week. They have 6 on hand currently, but would like …
1. A forward contract: a. Is a commitment to buy or sell a specified quantity of
1. A forward contract: a. Is a commitment to buy or sell a specified quantity of an asset or commodity at a specified price and future date b. Is an option to buy or sell a specif…
1. A forward contract: a. Is a commitment to buy or sell a specified quantity of
1. A forward contract: a. Is a commitment to buy or sell a specified quantity of an asset or commodity at a specified price and future date b. Is an option to buy or sell a specif…
1. A fully depreciated asset a. must be removed from the books b. should continu
1. A fully depreciated asset a. must be removed from the books b. should continue to be depreciated until it is disposed of. c. may remain on the books but is no longer depr…
1. A gain is recognized on the disposal of plant assets when: A) The sales price
1. A gain is recognized on the disposal of plant assets when: A) The sales price is greater than the residual value but less than the book value. C) The sales price is greater tha…
1. A gallon of paint that regularly sells for $20.00 was reduced to $15.00 durin
1. A gallon of paint that regularly sells for $20.00 was reduced to $15.00 during a sale. By what percent was the price reduced? a. 75% b. 40% c. 33 1/3% d. 25% e. None of the abo…
1. A general calculation method for transfer prices that achieves goal congruenc
1. A general calculation method for transfer prices that achieves goal congruence begins with the additional outlay cost per unit incurred because goods are transformed and then a…
1. A generous university benefactor has agreed to donate a large amount of money
1. A generous university benefactor has agreed to donate a large amount of money for student scholarships. The money can be provided in one lump-sum of $10mln, or in parts, where …
1. A good is currently produced in a perfectly competitive market. The market de
1. A good is currently produced in a perfectly competitive market. The market demand for the good is P = -0.01QD + 15. There are 50 firms in this market each with a MC = 0.8qf + 2…
1. A greeting card company is starting a new business venture and is in the proc
1. A greeting card company is starting a new business venture and is in the process of evaluating its product lines. Information for one new product, traditional parchment grade c…
1. A high-speed multiple-bit drill press costing $960,000 has an estimated salva
1. A high-speed multiple-bit drill press costing $960,000 has an estimated salvage value of $80,000 and a life of ten years was purchased on April 20 of the current year. What …
1. A inc uses the LIFO cost flow assumption to value inventory. Inventory for A
1. A inc uses the LIFO cost flow assumption to value inventory. Inventory for A on 1/2/2001 was 100 units at a LIFO cost of $ 25/unit. During the first quarter of 2001, 200 units …
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Financial Accounting
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