GOVERNMENTAL ACCOUNTING EXAM 3 - CHAPTERS 8 THRU 10 Select the best answer for each question and enter your answers on the answer sheet sent with the exam. Submit only the completed answer sheet‚ not the entire exam. Please write your name on the answer sheet. 1. General long-term debt of a governmental entity includes a) All future financial obligations. b) All future financial obligations that result from past transactions. c) All future financial obligations
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semivariable costs accounting rate of return (or simple rate of return‚ rate of return on assets‚ unadjusted rate of return or return on investment (ROI)) the average annual profit from a project‚ divided by the initial investment accumulation factor the value of (1 r)n used in present value and future value calculations activity a unit of work performed in the organisation activity-based budgeting (ABB) a process of building up budgets from the major activities of the business activity-based costing
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said James Brunner‚ manager of Byrch Paper Company Thompson Division‚ I’d be countermanding my order of last month for our salesmen to stop shaving their bids and to bid full cost quotations. I’ve been trying for weeks to improve the quality of our business‚ and if I turn around now and accept this job at $430 or $450 or something less than $480‚ I’ll be tearing down this program I’ve been working so hard to build up. The division can’t very well show a profit by putting in bids which don’t even cover
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Management Accounting Absorption vs Marginal Costing Report 20813287 Absorption vs. Marginal Costing (Atmospheric Ltd) Contents Page No Memorandum 3 Marginal (Variable) Costing 4 Absorption
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Many people know little about Canada’s large contribution to World War II and the efforts many Canadians made. Nearly everyone helped out in this war and thanks to the determination of those involved‚ the allies were victorious in defeating Hitler. Allied victory in World War II was in large part aided by Canadian involvement in the form of women contributing to the war effort‚ the British Commonwealth Air Training Program (or BCATP)‚ and Canada’s change in economy. World War II was a time of opportunity
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the main benefits and challenges of implementing a lean accounting system in a lean manufacturing environment? Do you anticipate interest in lean accounting will grow‚ the methods will change‚ or the concepts will fade out and be replaced with another ‘flavor of the month’? How do you perceive lean principles affecting your career? Justify your answers. I. Lean Accounting Lean accounting often refers to more simplified accounting practices that focuses on eliminating waste‚ reducing
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goodwill associated with the Spanish operations impairs under IFRSs as of 12/31/2012. The impairment loss is $400‚000. The new carrying value of the assets is $3.1 million. The new carrying value of the CGU is $1.8 million. Goodwill acquired in a business combination shall be allocated to each of the acquirer’s cash-generating units‚ or groups of cash generating
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The Contributions of Stephen Hawking "I don ’t want to go to school today. I have a cold." No one can truly say that this thought has never crossed their mind. Everyday around the globe‚ people are missing school‚ work‚ and common engagements for various reasons. Although they often may not be the most frivolous of excuses‚ they are still excuses. What if you are completely paralyzed and confined to a wheelchair for the rest of your life? It this isn’t a reason to skip anything; it is most
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agreed that society benefits from the work of its members. Compare the contributions of artists to society with the contributions of scientists to society. Which type of contribution do you think is valued more by your society? DATE: 3/12/2012 All the individuals stay in this world have always gained the welfare from their society‚ while at the same breath committed themselves to the society and make various significant contributions to it. While artists improve people’s mental life by the reflection
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Analysis Period amount/Base Period Amount x100 9. One of several ratios that reflects solvency includes the: Debt-to-equity ratio 10. Current assets divided by current liabilities is the: Current Ration 11. Ch.18 Managerial accounting is different from financial accounting in that: (users and decision makers‚ purpose of info‚ flexibility of practice‚ timeliness of information‚ time decision‚ focus of information‚ nature of information) 12. Which of the following items are management concepts that
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