Accounting

Cutoff misstatements occur

Cutoff misstatements occur

Cutoff misstatements occur

▸ either by error or fraud.

▸ by error only.

▸ by fraud only.

▸ randomly without causes related to errors or fraud.

18iq   30   1 Reply

damien03

The documents typically used to reconcile the balance on the accounts payable list with the ...

The documents typically used to reconcile the balance on the accounts payable list with the ...

[html]The documents typically used to reconcile the balance on the accounts payable list with the confirmation or vendors' statements include all of the following except for

▸ receiving reports.

▸ vendors' in

18iq   33   1 Reply

ecunis1

An example of an external user is a

An example of an external user is a

An example of an external user is a

▸ payroll supervisor.

▸ company president.

▸ creditor.

▸ plant manager.

18iq   30   1 Reply

lnvolley24

All other things held equal, the more frequent the controlling activity,

All other things held equal, the more frequent the controlling activity,

[html]All other things held equal, the more frequent the controlling activity,

▸ the faster an out-of-control process can be corrected.

▸ the less likely employees may ignore the control.

▸ the more likely employees may ignore the control.

▸ the

18iq   21   1 Reply

psstone42

Cost-volume-profit analysis, or CVP, helps managers assess the impact of various business decisions ...

Cost-volume-profit analysis, or CVP, helps managers assess the impact of various business decisions ...

Cost-volume-profit analysis, or CVP, helps managers assess the impact of various business decisions on company profits.

▸ true

▸ false

18iq   27   1 Reply

London

When both fixed and variable costs go down,

When both fixed and variable costs go down,

When both fixed and variable costs go down,

▸ revenue goes up.

▸ operating income goes down.

▸ contribution margin goes down.

▸ operating income goes up.

18iq   26   1 Reply

wukong81

The formula for operating income is

The formula for operating income is

[html]The formula for operating income is

▸ sales revenue - contribution margin - variable costs.

▸ sales revenue - variable costs - fixed costs.

▸ sales revenue - gross margin - fixed costs.

▸ sales revenue - variable costs - fixed costs - profi

18iq   28   1 Reply

live4outdoors

When products are completed, which of the following accounts is increased?

When products are completed, which of the following accounts is increased?

When products are completed, which of the following accounts is increased?

▸ Finished Goods Inventory

▸ Work in Process Inventory

▸ Cost of Goods Sold

▸ Raw Materials Inventory

18iq   47   1 Reply

iammtz

Companies that use job order costing often have under- or overapplied overhead. Discuss three ...

Companies that use job order costing often have under- or overapplied overhead. Discuss three ...

[html]Companies that use job order costing often have under- or overapplied overhead. Discuss three reasons to apply overhead and explain how overhead is applied. Give two reasons why overhead might be under- or overapplied and discuss the two method

18iq   49   1 Reply

edwardsshe

An ideal standard signifies

An ideal standard signifies

An ideal standard signifies

▸ attainable goals.

▸ padding.

▸ realistic projections.

▸ perfection.

18iq   40   1 Reply

cheezeh3ad

Outward Rowing Company manufactures canoes and kayaks. Due to an increasing focus on fitness, the ...

Outward Rowing Company manufactures canoes and kayaks. Due to an increasing focus on fitness, the ...

[html]Outward Rowing Company manufactures canoes and kayaks. Due to an increasing focus on fitness, the company has been experiencing an increased demand for its products. Two of its newer products, which are very popular with water sport enthusiasts

18iq   36   1 Reply

stephvelez1318

Like net present value, the internal rate of return considers the amount and timing of future cash flows.

Like net present value, the internal rate of return considers the amount and timing of future cash flows.

Like net present value, the internal rate of return considers the amount and timing of future cash flows.

▸ true

▸ false

18iq   40   1 Reply

ugotpwned5

Investing in a capital project may involve making screening decisions, preference decisions, and ...

Investing in a capital project may involve making screening decisions, preference decisions, and ...

Investing in a capital project may involve making screening decisions, preference decisions, and funding decisions. Discuss how each of these decisions is made, the goal of each, and give an example of each.

18iq   35   1 Reply

fujioki

ROI will not be improved by

ROI will not be improved by

ROI will not be improved by

▸ increasing revenue.

▸ converting variable costs to traceable fixed costs.

▸ decreasing variable costs.

▸ decreasing assets.

18iq   25   1 Reply

sbbalt

The percentage change, as shown in horizontal analysis, is calculated as: (current year account ...

The percentage change, as shown in horizontal analysis, is calculated as: (current year account ...

The percentage change, as shown in horizontal analysis, is calculated as:
(current year account balance - previous year account balance) ÷ current year account balance

▸ true

▸ false

18iq   32   1 Reply

aupadhay287

The 2020 and 2021 partial balance sheets for Ottoman Industries are shown below.20202021Current ...

The 2020 and 2021 partial balance sheets for Ottoman Industries are shown below.20202021Current ...

[html]The 2020 and 2021 partial balance sheets for Ottoman Industries are shown below.

18iq   19   1 Reply

jtarinay

On December 31, Berry Company recorded the following information in the Mixing Department's Work in ...

On December 31, Berry Company recorded the following information in the Mixing Department's Work in ...

[html]On December 31, Berry Company recorded the following information in the Mixing Department's Work in Process account:

18iq   40   1 Reply

amie

Collini Corporation has two production departments, Machining and Customizing. The company uses a ...

Collini Corporation has two production departments, Machining and Customizing. The company uses a ...

[html]Collini Corporation has two production departments, Machining and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department’s predetermined ove

18iq   36   1 Reply

doquangnhat

Data for January for Bondi Corporation and its two major business segments, North and South, appear ...

Data for January for Bondi Corporation and its two major business segments, North and South, appear ...

[html]Data for January for Bondi Corporation and its two major business segments, North and South, appear below:

18iq   26   1 Reply

elixy19

Rokosz Corporation makes one product and it provided the following information to help prepare the ...

Rokosz Corporation makes one product and it provided the following information to help prepare the ...

[html]Rokosz Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations:The

18iq   143   2 Replies

Anonymous

Chiodini Incorporated has a $900,000 investment opportunity that involves sales of $2,430,000, fixed ...

Chiodini Incorporated has a $900,000 investment opportunity that involves sales of $2,430,000, fixed ...

[html]Chiodini Incorporated has a $900,000 investment opportunity that involves sales of $2,430,000, fixed expenses of $1,044,900, and a contribution margin ratio of 50% of sales. The ROI for this year's investment opportunity considered alone is

18iq   29   1 Reply

slpm

Which of the following would not be included in operating assets in return on investment calculations?

Which of the following would not be included in operating assets in return on investment calculations?

Which of the following would not be included in operating assets in return on investment calculations?

▸ Cash.

▸ Accounts Receivable.

▸ Equipment.

▸ Factory building rented to (and occupied by) another company.

18iq   53   1 Reply

studytime

Balser Corporation manufactures and sells a number of products, including a product called JYMP. ...

Balser Corporation manufactures and sells a number of products, including a product called JYMP. ...

[html]Balser Corporation manufactures and sells a number of products, including a product called JYMP. Results for last year for the manufacture and sale of JYMPs are as follows:

18iq   45   1 Reply

Loveameriah

Almendarez Corporation is considering the purchase of a machine that would cost $200,000 and would ...

Almendarez Corporation is considering the purchase of a machine that would cost $200,000 and would ...

[html]Almendarez Corporation is considering the purchase of a machine that would cost $200,000 and would last for 5 years. At the end of 5 years, the machine would have a salvage value of $20,000. By reducing labor and other operating costs, the m

18iq   39   1 Reply

AdieMichelle

All of the following items are deductionsforadjusted gross incomeexcept

All of the following items are deductionsforadjusted gross incomeexcept

All of the following items are deductions for adjusted gross income except

▸ alimony paid.

▸ trade or business expenses.

▸ rent and royalty expenses.

▸ state and local income taxes.

2014Chevy   24   1 Reply

dfm1996

On January 1, 2011, Ace Electronics borrowed 40,000 on a five-year, 7 note. The loan will be repaid ...

On January 1, 2011, Ace Electronics borrowed 40,000 on a five-year, 7 note. The loan will be repaid ...

On January 1, 2011, Ace Electronics borrowed 40,000 on a five-year, 7 note. The loan will be repaid in 5 equal installments of 9,756 each year, beginning on December 31, 2011.
 
  On its statement of cash flows for the year ended December

2goodgabe   85   2 Replies

2goodgabe

The purchase of treasury stock ________ a corporation's assets and ________ its shareholders' ...

The purchase of treasury stock ________ a corporation's assets and ________ its shareholders' ...

The purchase of treasury stock ________ a corporation's assets and ________ its shareholders' equity.
 
  A) increases; increases
  B) decreases; increases
  C) increases; decreases
  D) decreases; decreases


(

2goodgabe   130   2 Replies

2goodgabe

For a strong internal control system over cash, it is important to have the duties related to cash ...

For a strong internal control system over cash, it is important to have the duties related to cash ...

For a strong internal control system over cash, it is important to have the duties related to cash receipts and cashpayments divided among different employees.
 a. True
  b. False
 
   Indicate whether the statement is true or f

2goodgabe   59   3 Replies

sneeedy

Mia Hero started her own catering business called Hero's Catering. Analyze each of the following ...

Mia Hero started her own catering business called Hero's Catering. Analyze each of the following ...

Mia Hero started her own catering business called Hero's Catering. Analyze each of the following transactions for the first month of business. Prepare an income statement for the month of March.
 
  a. Mia contributed 10,000 of her own mon

2goodgabe   114   2 Replies

2goodgabe

____ is a process that evaluates the quality of internal control performance over time.

____ is a process that evaluates the quality of internal control performance over time.

____ is a process that evaluates the quality of internal control performance over time.
 a. Control environment
  b. Risk assessment
  c. Control activities
  d. Monitoring


(Q. 2) Indicate

2goodgabe   80   2 Replies

2goodgabe

On a bank reconciliation, checks issued during the period that were not presented to the bank for ...

On a bank reconciliation, checks issued during the period that were not presented to the bank for ...

On a bank reconciliation, checks issued during the period that were not presented to the bank for payment before the bank statement was prepared are known as
 a. NSF checks.
   b. outstanding checks.
   c. deposits in transit.
 

2goodgabe   35   2 Replies

2goodgabe

When a company repays a loan, both the principal and interest paid are financing activities. ...

When a company repays a loan, both the principal and interest paid are financing activities. ...

When a company repays a loan, both the principal and interest paid are financing activities.
 
  Indicate whether the statement is true or false


(Q. 2) A depositor may endorse checks with a rubber s

2goodgabe   44   2 Replies

2goodgabe

Velshi Printers has contracts to complete weekly supplements required by forty-six customers. For ...

Velshi Printers has contracts to complete weekly supplements required by forty-six customers. For ...

Velshi Printers has contracts to complete weekly supplements required by forty-six customers. For the year 2015, manufacturing overhead cost estimates total $840,000 for an annual production capacity of 12 million pages.

For 2015 Velshi Printers h

2yankees2   68   3 Replies

Federa

Steve Corporation is using the kaizen approach to budgeting for 2015. The budgeted income statement ...

Steve Corporation is using the kaizen approach to budgeting for 2015. The budgeted income statement ...

Steve Corporation is using the kaizen approach to budgeting for 2015. The budgeted income statement for January 2015 is as follows:

Sales (240,000 units)$360,000
Less: Cost of goods sold240,000

Gross margin120,000
Operating expenses (include

2yankees2   62   2 Replies

2yankees2

Business function costs are the sum of all variable and fixed costs in all business functions of the ...

Business function costs are the sum of all variable and fixed costs in all business functions of the ...

Business function costs are the sum of all variable and fixed costs in all business functions of the value chain.
[True or False]

2yankees2   75   1 Reply

hootannie

How many units were completed and transferred out of Department A during February?

How many units were completed and transferred out of Department A during February?

How many units were completed and transferred out of Department A during February?
A) 300 units
B) 800 units
C) 900 units
D) 1,000 units

2yankees2   49   2 Replies

2yankees2

Recording depreciation expense is necessary to allocate the cost of an asset over its expected useful life.

Recording depreciation expense is necessary to allocate the cost of an asset over its expected useful life.

Recording depreciation expense is necessary to allocate the cost of an asset over its expected useful life.
[True or False]

2yankees2   56   2 Replies

2yankees2

The adjusted trial balance includes only permanent accounts.

The adjusted trial balance includes only permanent accounts.

The adjusted trial balance includes only permanent accounts.
[True or False]

2yankees2   39   1 Reply

carlx94

The PV (present value) function in a Microsoft Excel spreadsheet requires inputting all of the ...

The PV (present value) function in a Microsoft Excel spreadsheet requires inputting all of the ...

The PV (present value) function in a Microsoft Excel spreadsheet requires inputting all of the following variables except ________.
A) length of compounding period
B) number of compounding periods
C) interest rate per compounding period
D) type b

2yankees2   37   2 Replies

2yankees2

Able sells a piece of equipment to Smythe for $1700 on August 1. The equipment cost $1300. The ...

Able sells a piece of equipment to Smythe for $1700 on August 1. The equipment cost $1300. The ...

Able sells a piece of equipment to Smythe for $1700 on August 1. The equipment cost $1300. The equipment is picked up by Smythe on August 10. How is this transaction accounted for under a perpetual system of inventory?

A)
Sales1300
         Acc

2yankees2   70   2 Replies

2yankees2