MULTIPLE CHOICE—Conceptual 1. Which of the following is true about lower of cost or market? a. It is inconsistent because losses are recognized but not gains. b. It usually understates assets. c. It can increase future income. d. All of these. 2. The primary basis of accounting for inventories is cost. A departure from the cost basis of pricing the inventory is required where there is evidence that when the goods are sold in the ordinary course of business their a. selling price will
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BUSINESS ACCOUNTING INDIVIDUAL ASSIGNMENT Question 1 Tycoon makes and sells 600 toy cars per month. Each toy car is sold for RM40 each. Tycoon is currently producing at 60% of its full capacity. At this level of output‚ the total costs are RM22‚000 of which RM10‚000 are fixed. Required: a) Calculate the followings: • contribution margin per unit and ratio • breakeven in sales units and in sales value • Sales value in RM required to achieve $18‚000 profit
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CHAPTER 12 MULTIPLE CHOICE QUESTIONS 26. The capital budget for the year is approved by a company’s a. board of directors. b. capital budgeting committee. c. officers. d. stockholders. 27. All of the following are involved in the capital budgeting evaluation process except a company’s a. board of directors. b. capital budgeting committee. c. officers. d. stockholders. 28. Most of the capital budgeting methods use a. accrual accounting numbers. b. cash flow
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| | Multiple Choice Question 49 | | | | Your answer is correct. | | | Which of the following is an advantage of corporations relative to partnerships and sole proprietorships? | Reduced legal liability for investors. | | Harder to transfer ownership. | | Lower taxes. | | Most common form of organization. | | | | | Multiple Choice Question 64 | | | | Your answer is correct. | | | The group of users of accounting information charged with
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With respect to the prepaid income from services which of the following is true? The treatment of prepaid income is the same for tax and financial accounting. An accrual basis taxpayer can spread the income over the period services are to be provided if all of the servidcdes will be completed by the end of the tax year ^^^answer The effects of a below-market loan for 450‚000 made by a a corporation to its chief The corporation has imputed interest income and compensation expense. As a
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Question 1 .0.5 out of 0.5 points What is the future value of $1‚200 a year for 40 years at 8 percent interest? Assume annual compounding. Answer Selected Answer: c. $310‚868 Correct Answer: c. $310‚868 . Question 2 .0.5 out of 0.5 points Gerold invested $6‚200 in an account that pays 5 percent simple interest. How much money will he have at the end of ten years? Answer Selected Answer: b. $9‚300 Correct Answer: b. $9‚300 . Question 3 .0.5 out of
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Question Type: # Of Questions: # Correct: Multiple Choice 3 3 Short 2 N/A Grade Details - All Questions 1. Question : (TCO 2) The world’s poor include all households with less than: Student Answer: $600 a year per family member. CORRECT $700 a year per family member. $800 a year per family member. $900 a year per family member. Instructor Explanation: Chapter 3 Points Received: 4 of 4 Comments: 2. Question : (TCO 2) Voluntary simplifiers are those whose
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1. Who are the first‚ second‚ and third parties in healthcare situations? The first party is the patient himself or herself or the person‚ such as a parent‚ responsible for the patient’s health bill. The second party‚ often called providers is the physician‚ clinic‚ hospital‚ nursing home‚ or the healthcare entity rendering the care. The third party is the payer‚ and uninvolved insurance company or health agency that pays the physician‚ clinic‚ or other secondary party provider for the care or services
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Kendall Fretwell Assignment 3 1. | Changes in sexual maturity which occur during puberty are referred to as Secondary sex characteristics. | 2. | The first ejaculation in boys is called Spermarche. | 3. | Girls who are sexually active are also more likely to have experienced early Menstruation . | 4. | Approximately one third of teen pregnancies in the U.S. end in abortion. | 5. | Many researchers feel that recognition of one’s feelings of same-sex attraction begin as early
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The general manager of the grocery store Wegmans in Canandaigua‚ NY‚ wants to know the average (typical) amount of time it takes for a customer to check out of his grocery store. Last Saturday between the hours of 8 am and noon the manager‚ along with a team of helpers‚ measured the amount of time it took the first 200 customers to check out at each of its open registers. The helpers recorded the time (in minutes) using a stop watch‚ starting when a customer first arrived at a line and ending when
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