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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sole proprietorships or partnerships? If the corporate form of business organization has so many advantages over the sole proprietorship‚ why is it so common for small businesses to initially be formed as sole proprietorships? The three areas are: 1. Capital budgeting: The financial manager tries to identify investment opportunities that are worth more to the firm than they cost to acquire. 2. Capital structure: This refers to the specific mixture of long-term debt and equity a firm uses to finance
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Quiz 3 Name ______________________________ Class Number _________________ 1. Let X be a random variable with Cumulative Distribution Function (CDF) below. Answer the following probability questions: (You must write out CDF notation) – such as 1 2 3 4 5 6 7 8 9 10 .02 .09 .15 .41 .51 .66 .73 .97 .98 1.0 a) Answer _______________________ c) Answer _______________________ d) Answer _______________________ e) Answer _______________________
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BUSN 5200 Quiz for week 3 Note: In the questions below‚ the correct answer is identified with an asterisk 1. (See Exhibit 2-2 on page 58 in your BUSN 5200 Custom text Version 2) Assume Main Street Store’s Net Sales in 2010 were $1‚000‚000 and it’s Net Income in 2010 was $17‚000. Thus‚ between 2010 and 2011 Main Street Store’s net sales increased 20%. During the same period what percentage did net income increase? a. 5.6% From Exhibit 2-2 on page 58: b. 17.0% 2010 net income: $17
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Session 1‚ 2011 SOLA 4012 /9007 Grid Connected PV QUIZ week 9 –S1 2011 SOLUTIONS – Version A Other versions just had the answers moved around‚ the questions were the same. 1. (1 Mark) A module subject to shading is in a string of modules. The modules do not have bypass diodes or blocking diodes installed. The worst case power dissipation for the shaded module occurs when… a. b. c. the string is open circuited the string is short circuited reverse current flows in the string 2. (1 Mark) Which
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Multiple Choice (12 marks) Choose the best answer for each of the following 8 multiple choice questions. Circle your answer directly on the quiz booklet. Only one answer will be accepted for each multiple choice question. There is no penalty for guessing. Question No. 1 (2 marks) Bobcat Company uses a job-order costing system. During April‚ the following costs appeared in the Work in Process Inventory account: Beginning balance $ 24‚000 Direct material used 70‚000 Direct labor incurred 60
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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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CH 1 | 1 CORRECT | | Managerial accounting is concerned with: | | | A) | reporting financial information to stockholders. | | | B) | reporting financial information to regulators. | | | C) | providing information for use within the organization. | | | D) | the financial consequences of past activities. | | | | | | Feedback:The correct answer is C: Managerial accounting is concerned with providing information to managers for use within the organization. | | 2
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cash. 1. Cash Flow from Operations is: A. $25‚000 B. $24‚500 C. $25‚500 D. $27‚000 Using the information from above... Cash Flow from Investing is: A. ($16‚000) B. ($15‚000) C. $1‚000 D. ($17‚000) QUESTION 3 Using the information from above... Cash Flow from Financing is: A. ($500) B. ($11‚000) C. ($1‚500) D. ($8‚500) 4 At Dec 31‚ ABC Company had currency and coins on hand of $500‚ deposits in checking accounts of $3‚000‚ U.S. Treasury bills purchased on Dec. 1 and due on
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(1) Which of the following statement (s) is/are true? [pic]A)[pic]A manufacturer of paper would ordinarily use process costing rather than job-order costing. [pic]B)[pic]If a company uses a process costing system it accumulates costs by processing department rather than by job. [pic]C)[pic]The output of a processing department must be homogeneous in order to use process costing. [pic]D)[pic]All of the above are true statements. Feedback: The correct answer is D (Learning Objective 1):
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