ACCT 346 Final Exam CLICK TO DOWNLOAD ANSWERS Page 1 1. (TCO 1) A difference between actual costs and planned costs 2. (TCO 1) Which of the following is not likely to be a fixed cost? 3. (TCO 2) Which of the following is not a manufacturing cost? 4. (TCO 2) A job-order costing system is likely used by a 5. (TCO 3) Equivalent units are calculated by 6. (TCO 3) The Freedom Corporation’s painting department had a beginning inventory of 580 units‚ which had direct material costs of $22‚715
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ACCT 346 Midterm Exam Answers http://www.homeworkwarehouse.com/downloads/acct-346-midterm-exam-answers/ ACCT 346 Midterm Exam Answers 1. Question : (TCO 1) Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for 2. Question : (TCO 1) Which of the following costs does not change when the level of business activity changes? 3. Question : (TCO 1) You own a car and are trying to decide whether or not to trade
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ACCT 346 Midterm Exam Solution https://hwguiders.com/downloads/acct-346-midterm-exam-solution ACCT 346 Midterm Exam Solution 1. Question: (TCO 1) Which of the following is not a difference between financial accounting and managerial accounting? 2. Question : TCO 1) Which of the following statements regarding fixed costs is true? 3. Question: (TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this
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ACC 403 Week 4 quiz 3 Question 1 If an auditor fails to fulfill a certain requirement in the contract‚ they may be guilty of: Answer Selected Answer: breach of contract. Correct Answer: breach of contract. Question 2 The assessment against a defendant of that portion of the damage caused by the defendant’s negligence is called: Answer Selected Answer: separate and proportionate liability. Correct Answer: separate and proportionate liability. Question 3
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Distinguish between internal and external sources of funds. Do corporations rely more on external or internal funds as sources of financing? Question 1 of 20 5.0/ 5.0 Points Which transaction would be recorded in a cash basis system of accounting? A.Purchase of equipment by signing a note B.Purchase of supplies on credit C.Sale of goods against a note Correct D.Sale of goods for cash Answer Key: D Question 2 of 20 0.0/ 5.0 Points The credit terms of a sale are normally
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1. Two primary external users of accounting information are investors and creditors. TRUE 2. The economic resources that are owned by a business are called stockholders’ equity. FALSE 3. Net income for the period is determined by subtracting total expenses and dividends from revenues. FALSE 4. The heading for the income statement might include the line “As of December 31‚ 20xx.” TRUE 5. Net income is another term for revenue. FALSE 6. The primary purpose of the statement of cash
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Support Children and Young Peoples Health and Safety Unit Number 4222- (346) 1.1- You must always take into account that each child is an individual and therefore has their own specific needs. When planning a physical activity you must consider each Childs ability and needs. Some children have sensory impairments which will therefore need closer planning and consideration. Example being - The children I work with have varying degrees of Autism. Therefore we are at times limited to were we can
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1.Operations managers are responsible for assessing consumer wants and needs and selling and promoting the organizations goods or services.TrueFalse 2.Often‚ the collective success or failure of companies operations functions will impact the ability of a nation to compete with other nations.TrueFalse 3. An example of a strategic operations management decision is the choice of where to locate.TrueFalse 4. An example of an operational operations management decision is inventory level management.TrueFalse
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1. Question : (TCO A) Which of the following statements is CORRECT? Student Answer: One of the disadvantages of a sole proprietorship is that the proprietor is exposed to unlimited liability. It is generally easier to transfer one’s ownership interest in a partnership than in a corporation. One of the advantages of the corporate form of organization is that it avoids double taxation. One of the advantages of a corporation from a social standpoint is that every stockholder has
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Question 1 2 out of 2 points | | | The cost concept is the basis for entering the exchange price into the accounting records.Answer | | | | | Selected Answer: | True | | | | | Question 2 2 out of 2 points | | | Allen Marks is the sole stockholder of Great Marks Company. As of the end of its accounting period‚ December 31‚ 2011‚ Great Marks Company has assets of $940‚000 and liabilities of $300‚000. During 2012‚ Allen Marks purchased an additional $65‚000 of capital
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