Accounting

The increasing pace of technological information has resulted in longer product lifecycles.

The increasing pace of technological information has resulted in longer product lifecycles.

The increasing pace of technological information has resulted in longer product lifecycles.
[True or False]

yupyup0214   17   1 Reply

destiny_singer

Which of the following is the mathematical expression of contribution margin ratio?

Which of the following is the mathematical expression of contribution margin ratio?

Which of the following is the mathematical expression of contribution margin ratio?
A) Contribution margin ratio = Contribution margin percentage  Revenues (in dollars)
B) Contribution margin ratio = Contribution margin percentage  Fixed costs (in

tftc4e   17   2 Replies

tftc4e

Even in the face of changing conditions, attaining the original budget is critical.

Even in the face of changing conditions, attaining the original budget is critical.

Even in the face of changing conditions, attaining the original budget is critical.
[True or False]

lodidodiclaudie   17   3 Replies

Vslice52

The Japanese use the term kaizen when referring to________.

The Japanese use the term kaizen when referring to________.

The Japanese use the term kaizen when referring to________.
A) scarce resources
B) pro forma financial statements
C) continuous improvement
D) the sales forecast

jhester60   17   2 Replies

jhester60

The Japanese use kaizen to mean financing alternatives.

The Japanese use kaizen to mean financing alternatives.

The Japanese use kaizen to mean financing alternatives.
[True or False]

jhester60   17   1 Reply

curry1

The larger the vertical difference between actual costs and predicted costs the better the goodness of fit.

The larger the vertical difference between actual costs and predicted costs the better the goodness of fit.

The larger the vertical difference between actual costs and predicted costs the better the goodness of fit.
[True or False]

TheFulcan   17   2 Replies

TheFulcan

What is the target cost per unit?

What is the target cost per unit?

What is the target cost per unit?
A) $387.04
B) $328.00
C) $268.96
D) $73.80

jrdavis   17   1 Reply

LunarShotz

How can a company's revenues and costs differ across customers?

How can a company's revenues and costs differ across customers?

How can a company's revenues and costs differ across customers?

sm.r1   17   2 Replies

sm.r1

In cost allocation, R&D costs are used ________.

In cost allocation, R&D costs are used ________.

In cost allocation, R&D costs are used ________.
A) to provide information for economic decisions
B) to report to external parties when using generally accepted accounting principles
C) to calculate costs of a government contract
D) to calcul

Meesh1234   17   2 Replies

Meesh1234

The sales value at splitoff method presupposes the exact number of subsequent steps undertaken for ...

The sales value at splitoff method presupposes the exact number of subsequent steps undertaken for ...

The sales value at splitoff method presupposes the exact number of subsequent steps undertaken for further processing.
[True or False]

SethHuddleston   17   3 Replies

Briellec99

Which organization is responsible for promulgating U.S. GAAP?

Which organization is responsible for promulgating U.S. GAAP?

Which organization is responsible for promulgating U.S. GAAP?
A) Financial Accounting Standards Board
B) Public Company Accounting Oversight Board
C) International Accounting Standards Board
D) Securities Exchange Commission

monthers   17   2 Replies

monthers

Currently, what is the single source of generally accepted accounting principles in the United States?

Currently, what is the single source of generally accepted accounting principles in the United States?

Currently, what is the single source of generally accepted accounting principles in the United States?
A) Financial Accounting Statements
B) APB Opinions
C) Accounting Standards Codification
D) Accounting Research Bulletins

lulu123   17   3 Replies

bergenstudent12

Management is afforded a certain amount of latitude and must exercise judgment when selecting ...

Management is afforded a certain amount of latitude and must exercise judgment when selecting ...

Management is afforded a certain amount of latitude and must exercise judgment when selecting accounting methods.  Discuss why this could be problematic for users of financial statements. Provide examples.

TArisorev   17   2 Replies

TArisorev

Which of the following is most likely based on an assumption?

Which of the following is most likely based on an assumption?

Which of the following is most likely based on an assumption?
A) how to record petty cash transactions
B) decision about which method of depreciation to use
C) the balance in the cash account
D) the value of the accounts payable account

improvegrades   17   3 Replies

Terrica095

In transferring information to the general ledger, the reference column contains the ________.

In transferring information to the general ledger, the reference column contains the ________.

In transferring information to the general ledger, the reference column contains the ________.
A) chronological order of the entry
B) general journal page number
C) account abbreviation
D) general ledger page number

emily8694   17   1 Reply

isaiah43

What is the time value of money?

What is the time value of money?

What is the time value of money?

nuppy   17   2 Replies

nuppy

Assume that you have the opportunity to receive $3000 at the end of each of the next five years. ...

Assume that you have the opportunity to receive $3000 at the end of each of the next five years. ...

Assume that you have the opportunity to receive $3000 at the end of each of the next five years. Given an interest rate of 6%, how much would you be willing to pay for this investment today? (Use spreadsheet software or a financial calculator to calc

babesitter09   17   2 Replies

babesitter09

You are provided with two time value of money tables. One table provides factors for the present ...

You are provided with two time value of money tables. One table provides factors for the present ...

You are provided with two time value of money tables. One table provides factors for the present value of an ordinary annuity and the other provides factors for the present value of an annuity due. How can you tell which table is which type?

fomor   17   3 Replies

lmuniz

Explain how to determine the converted factor for any deferred annuity by using only the table for ...

Explain how to determine the converted factor for any deferred annuity by using only the table for ...

Explain how to determine the converted factor for any deferred annuity by using only the table for factors of the present value of an ordinary annuity.

asdf300   17   1 Reply

Terrica095

Approval of a contract by the parties must be in writing.

Approval of a contract by the parties must be in writing.

Approval of a contract by the parties must be in writing.
[True or False]

Cdeakle   17   2 Replies

Cdeakle

Refer to Kramer Iron Works. Allocate the transaction price using the adjusted market assessment approach.

Refer to Kramer Iron Works. Allocate the transaction price using the adjusted market assessment approach.

Refer to Kramer Iron Works. Allocate the transaction price using the adjusted market assessment approach.

AdamPG14   17   2 Replies

AdamPG14

Which one of the following is not an indicator of the transfer of control to the buyer?

Which one of the following is not an indicator of the transfer of control to the buyer?

Which one of the following is not an indicator of the transfer of control to the buyer?
A) Seller has present right to payment for the asset.
B) Seller has legal title to the asset.
C) Seller has transferred physical possession of property.
D) C

kortni916   17   1 Reply

drec92

A seller recognizes the right to return sales as a/an ________.

A seller recognizes the right to return sales as a/an ________.

A seller recognizes the right to return sales as a/an ________.
A) liability
B) asset
C) revenue
D) expense

tftc4e   17   2 Replies

tftc4e

It is sometimes necessary to recognize revenue before delivery to maintain the predictive value of ...

It is sometimes necessary to recognize revenue before delivery to maintain the predictive value of ...

It is sometimes necessary to recognize revenue before delivery to maintain the predictive value of financial information.
[True or False]

Alehandrax   17   3 Replies

hello5197

Which of the following is not a major characteristic of a fixed asset?

Which of the following is not a major characteristic of a fixed asset?

Which of the following is not a major characteristic of a fixed asset?
A) acquired for resale
B) tangible in nature
C) expected to be used for more than one year
D) used in the production and sale of other assets

samilee   17   2 Replies

samilee

Which of the following is not a characteristic of a liability?

Which of the following is not a characteristic of a liability?

Which of the following is not a characteristic of a liability?
A) obligation always arises from past events
B) probably requires future sacrifice of resources
C) requires sacrifice of cash or other current asset
D) present obligation

billyd1996   17   1 Reply

umadbra84

If management can only estimate a range for the loss, but cannot identify a single most likely ...

If management can only estimate a range for the loss, but cannot identify a single most likely ...

If management can only estimate a range for the loss, but cannot identify a single most likely outcome within that range, under U.S. GAAP it should accrue the midpoint of the range.
[True or False]

pocaralho   17   1 Reply

han12

When a company borrows a discounted note for $30,000, it receives less than $30,000 and must repay $30,000.

When a company borrows a discounted note for $30,000, it receives less than $30,000 and must repay $30,000.

When a company borrows a discounted note for $30,000, it receives less than $30,000 and must repay $30,000.
[True or False]

HaydenH01   17   2 Replies

HaydenH01

Given the following information from an amortization table, compute the effective interest expense, ...

Given the following information from an amortization table, compute the effective interest expense, ...

Given the following information from an amortization table, compute the effective interest expense, discount amortization, and the carrying value for the next line of the table:

6% Cash
Interest7% Effective
InterestDiscount
AmortizationCarrying

KatharinaR   17   1 Reply

leel

The total number of shares that a firm can legally issue are called ________.

The total number of shares that a firm can legally issue are called ________.

The total number of shares that a firm can legally issue are called ________.
A) allocated shares
B) authorized shares
C) outstanding shares
D) common shares

damnitdiane   17   3 Replies

Rule612069

Companies account for guaranteed residual values in the same way they account for bargain purchase options.

Companies account for guaranteed residual values in the same way they account for bargain purchase options.

Companies account for guaranteed residual values in the same way they account for bargain purchase options.
[True or False]

SSASSY   17   2 Replies

SSASSY

In order for substitution rights to exist, which of the following conditions must be met?

In order for substitution rights to exist, which of the following conditions must be met?

In order for substitution rights to exist, which of the following conditions must be met?
A) The lessor of an asset only has one asset available to fulfill the contract terms and the contract includes an embedded aspect.
B) The lessor has the pract

emily8694   17   3 Replies

macbookpro1

Using the above information and assuming that Sidekick allocates consideration based on relative ...

Using the above information and assuming that Sidekick allocates consideration based on relative ...

Using the above information and assuming that Sidekick allocates consideration based on relative standalone selling prices, determine the allocation of the total consideration to the computer services and the consulting.

babesitter09   17   2 Replies

babesitter09

What is the proper treatment of prior service costs?

What is the proper treatment of prior service costs?

What is the proper treatment of prior service costs?
A) Prior service costs are included in other comprehensive income and amortized over future periods.
B) Prior service costs are included in other comprehensive income and amortized retroactively

damnitdiane   17   1 Reply

taneymc

Which of the following is not an element of pension cost that must be disclosed?

Which of the following is not an element of pension cost that must be disclosed?

Which of the following is not an element of pension cost that must be disclosed?
A) actual return on plan assets
B) service cost
C) interest cost
D) amortization of prior service cost

bunbun11   17   3 Replies

pencils13

Which one of the following items is not a way for management to influence EPS computations to meet ...

Which one of the following items is not a way for management to influence EPS computations to meet ...

Which one of the following items is not a way for management to influence EPS computations to meet target goals?
A) measurements of impairments on plant, property and equipment
B) determination of tax contingencies
C) market valuation of trading s

Bubbles1999   17   3 Replies

sudenzia

The order for antidilutive sequencing is ranking the least dilutive security first, ascending to the ...

The order for antidilutive sequencing is ranking the least dilutive security first, ascending to the ...

The order for antidilutive sequencing is ranking the least dilutive security first, ascending to the most dilutive security last.
[True or False]

RaviPatel001   17   1 Reply

jyang3

If a company has recorded a liability for a lawsuit, and the amount of the settlement is more than ...

If a company has recorded a liability for a lawsuit, and the amount of the settlement is more than ...

If a company has recorded a liability for a lawsuit, and the amount of the settlement is more than the provision in the liability, it must consider this an error and retrospectively correct it.
[True or False]

KatharinaR   17   3 Replies

Turboturner

Firms account for material error corrections ________.

Firms account for material error corrections ________.

Firms account for material error corrections ________.
A) with the retrospective method
B) using the prospective method
C) only after they self correct
D) only when both the income statement and balance sheet are affected

Luikennoah   17   1 Reply

mcraver1

Which of the following questions would not be answered by the annual cash flow statement?

Which of the following questions would not be answered by the annual cash flow statement?

Which of the following questions would not be answered by the annual cash flow statement?
A) What was cash used for during the year?
B) What was the change in the cash balance during the year?
C) Where did cash come from during the year?
D) How d

CJODAS   17   2 Replies

CJODAS