CHAPTER 1 COVERAGE OF LEARNING OBJECTIVES | |FUNDA- |CRITICAL THINKING | |CASES‚ EXCEL‚ | | |MENTAL |EXERCISES AND EXERCISES| |COLLAB.‚ & INTERNET | | |ASSIGN-MENT | | |EXERCISES | |
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AC202 Managerial Accounting Unit 1 exam (Chapters 13-17) Multiple choice (each question is worth 5 points) 1. When preparing an income statement‚ which of the following is the proper order for income statement components? a. Comprehensive income‚ Other comprehensive income items‚ irregular items‚ Net income b. Net income‚ irregular items‚ Comprehensive income‚ Other comprehensive income items c. Irregular items‚ Net income‚ Other comprehensive income items‚ Comprehensive income d. Irregular
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Managerial Accounting Mid-Term 1.) a.) Snack-Foods division president may want to play the end-of-year games because there may be a bonus for the division president if they get certain earnings for the year. Not only a bonus for the division president; but there may be a bonus for the division itself. With that being said he could use that for the other employees to help participate in the year-end games. If corporate has seen them fallen behind‚ then these year-end games maybe able to apply
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Chapter 16 Managerial accounting concepts and principles 1) Direct costs are identified with and can be traced to a cost object. Indirect costs cannot be identified with or traced to a cost object. 2) Costs by function: A) Product costs consist of manufacturing costs: direct materials‚ direct labor and factory overhead. B) Period costs consist of selling and administrative expenses. 3) A) Prime costs which consist of direct materials and direct labor costs. B) Conversion costs which consist
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1) Which of the following would be a useful way to increase the saving rate? A) Tax breaks to increase the real return that savers receive B) Increasing taxes if Ricardian equivalence holds C) Increasing government spending D) Increasing taxes on capital goods Answer: A 2) Assume that the full-employment level of output is $5000 billion and the natural unemployment rate is 5%. Suppose the current unemployment rate is 8%. What would be the current level of output according to Okun’s law (when
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J. Llano Managerial Accounting Performance Measures & Responsibilities Managerial accounting in simple terms relates to providing information in support of the internal management processes which aids managers to identify‚ accumulate‚ analyze‚ interpret and use collected information to help the company meet its organizational
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Outsourcing BUS 630: Managerial Accounting Outsourcing The pros and cons of outsourcing varies by industry‚ size of organization‚ organizational structure‚ and many other components. The pros and cons are highlighted and the fall of Satyam to encompass a full range of accounting aspects. All size organizations outsource a portion of his or her business. Therefore‚ taking time to reflect on the points identified in this paper may enlighten or create ideas for consideration regarding outsourcing
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CHAPTER 12 Intangible Assets ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions 1. Intangible assets; concepts‚ definitions; items comprising intangible assets. 1‚ 2‚ 3‚ 4‚ 5‚ 6‚ 7‚ 8‚ 9‚ 10‚ 11‚ 12‚ 13‚ 14 2. Patents; franchise; organization costs; trade name. 9‚ 10‚ 13‚ 14‚ 25 3. Goodwill. 4. 5. Brief Exercises Exercises Concepts Problems for Analysis 1‚ 2‚ 3‚ 5‚ 6 1‚ 2‚ 3‚ 4 1‚ 2‚ 3 1‚ 2‚ 3‚ 4‚ 5‚ 7‚ 12‚ 13 4‚ 5‚ 6
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Question 1: Define accounting. Answer : Accounting is a process of identifying the events of financial nature‚ recording them in Journal‚ classifying in their respective ledgers‚ summarising them in Profit and Loss Account and Balance Sheet and communicating the results to the users of such information‚ viz. owner/s‚ government‚ creditors‚ investors etc. According to the American Institute of Certified Accountants‚ 1941‚ “Accounting is an art of recording‚ classifying and summarising in a significant
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are: (a) Payment of an accounts payable. (b) Collection of an accounts receivable from a customer. (c) Transfer of an accounts payable to a note payable. 2. Transactions (a)‚ (b)‚ (d) are considered business transactions and are recorded in the accounting records because a change in assets‚ liabilities‚ or owners’/stockholders’ equity has been effected as a result of a transfer of values from one party to another. Transactions (c) and (e) are not business transactions because a transfer of values
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