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    ACCT346 Final Exam Study Guide YOU MAY WANT TO PRINT THIS GUIDE. 1. The Final Exam is open book and open notes. The maximum time you can spend in the exam is 3 hours‚ 30 minutes. If you have not clicked the Submit for Grading button by then‚ you will be exited from the exam automatically. In the Final Exam environment‚ the Windows clipboard is disabled‚ so you will not be able to copy exam questions or answers to or from other applications. 2. You should click the Save Answers button in the exam

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    Page:   1  2   1. Question : (TCO 4) The Dulac Box plant produces 400 cypress packing boxes in on two-person assembly line during a 10-hour shift. What is the labor productivity of this assembly line?   Student Answer:  20 boxes/labor hour    25 boxes/labor hour    50 boxes/labor hour    250 boxes/labor hour    500 boxes/labor hour   Instructor Explanation: 400 boxes/(10 hours x 2 people) = 400 boxes/20 labor hours = 20 boxes/labor hour  (Formula 1.1‚ Chapter

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        | 1. (TCO A) Projects have specific attributes. Which of the following is not an attribute? (Points : 5) |        Has a sponsor or customer.        Has interdependent tasks.        Utilizes various resources.        All of the above are project attributes. | 2. (TCO A) Which step of the project life cycle involves identification of a need‚ problem‚ or opportunity? (Points : 5) |        Initiating        Planning        Performing        Closing | 3. (TCO B) For a project

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    1. (TCO A) An alternative available when the seller is exposed to continued risks of ownership through return of the product is (Points : 6) Recording the sale‚ and accounting for returns as they occur in future periods. Not recording a sale until all return privileges have expired. Recording the sale‚ but reducing sales by an estimate of future returns. All of the above. 2. (TCO A) During 2010‚ Steele Corporation sold merchandise costing $1‚500‚000 on an installment

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    Questions | 1. | Question : | (TCO A) Cloud computing | | | Student Answer: | | is the same as e-commerce. | | | | reduces the size of IT organizations. | | | | increases business costs. | | | | requires special software‚ other than a browser‚ to be installed on each computer. | | Instructor Explanation: | Week 1 Lecture | | | | Points Received: | 10 of 10 | | Comments: | | | | 2. | Question : | (TCO A) Maintaining the organization ’s financial

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    1. | Question : | (TCO F) Assume there is no beginning work in process inventory and the ending work in process inventory is 100% complete with respect to materials costs. The number of equivalent units with respect to materials costs under the weighted-average method is: | Student Answer: The same as the number of units put into production. | 2. | Question : | (TCO F) Process costing would be appropriate for each of the following except: | Student Answer: custom furniture

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    1. Question : (TCO A) Which of the following is most clearly an example of process innovation? Student Answer: a pizza chain is able to develop a method of baking pizza that enables pizzas to be baked in 10 minutes rather than the standard 20 minutes during the late 1980s a potato chip company introduces a line of its potato chips with a new type of seasoning. a major motion picture studio releases a new 3D movie. a tire manufacturer develops a tire that re-inflates itself

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    Received: | 137 / 170 (80.6%) | | Question Type: | # Of Questions: | # Correct: | Multiple Choice | 25 | 18 | Short | 1 | N/A | Essay | 2 | N/A | | | Grade Details - All Questions | Page: | 1 2 3 | 1. | Question : | (TCO 1) Which of the following is not a difference between financial accounting and managerial accounting? | | | Student Answer: | | Financial accounting is primarily concerned with reporting the past‚ while managerial accounting is more concerned

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    1. (TCO A‚B) Which of the following is not normally done when you define a storage location? (Points : 5) You tell the computer the name for the location. You tell the computer the type of data (e.g.‚ numeric‚ nonnumeric) the location will contain. X You tell the computer the address for the location. You tell the computer the size( number of bytes) of the location. 2. (TCO B‚C)The Ice Cream Maker manufactures four different versions of their basic white

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    1. | Question : | (TCO A) Listed below are several information‚ characteristics‚ and accounting principles and assumptions. Match the letter of each with the appropriate phrase that states its application. | | | Student Answer: | | : Historical cost principle | | 1 : Earnings process completed and realized or realizable | | | | : Going concern principle | | 2 : Cost of providing financial information versus the benefits derived from its use | | | | : Matching principle | | 3

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