Accounting

The sale of a long-term investment would appear on a cash flow statement as a:

The sale of a long-term investment would appear on a cash flow statement as a:

The sale of a long-term investment would appear on a cash flow statement as a:
A) cash inflow in the operating activities section
B) cash inflow in the investing activities section
C) cash inflow in the financing activities section

Harrison   59   1 Reply

msayed2004

The sale of a partnership interest always results in capital gain or loss rather than ordinary ...

The sale of a partnership interest always results in capital gain or loss rather than ordinary ...

The sale of a partnership interest always results in capital gain or loss rather than ordinary income.
 T or F?

safezone   75   1 Reply

Rimoun

The sale of a property, plant and equipment item may result in a gain but not a loss.

The sale of a property, plant and equipment item may result in a gain but not a loss.

The sale of a property, plant and equipment item may result in a gain but not a loss.

StormLrd   53   1 Reply

Alexmosuthe

The sale of assets for liquidation purposes of a partnership is called:

The sale of assets for liquidation purposes of a partnership is called:

The sale of assets for liquidation purposes of a partnership is called:
A) dissolution.
B) net liquidation.
C) a sheriff's sale.
D) None of the above

upton   57   1 Reply

keytwo

The sale of common stock above par was recorded by crediting Common Stock for the total amount. This ...

The sale of common stock above par was recorded by crediting Common Stock for the total amount. This ...

The sale of common stock above par was recorded by crediting Common Stock for the total amount. This error would cause:
A) the period end stockholders' equity to be overstated.
B) no effect on total stockholders' equity.
C) t

upton   92   1 Reply

Laffio

The sale of common stock was recorded as a sale of preferred stock. This error would cause:

The sale of common stock was recorded as a sale of preferred stock. This error would cause:

The sale of common stock was recorded as a sale of preferred stock. This error would cause:
A) the period end stockholders' equity to be understated.
B) the period end stockholders' equity to be overstated.
C) no effect on to

majestico   83   2 Replies

majestico

The sale of each product relative to total sales is referred to as

The sale of each product relative to total sales is referred to as

The sale of each product relative to total sales is referred to as

▸ sales mix.

▸ managed ratio.

▸ product line sales.

▸ operating leverage.

npdtan92   17   1 Reply

wonton1

The sale of equipment at book value would be reported on a statement of cash flows under:

The sale of equipment at book value would be reported on a statement of cash flows under:

The sale of equipment at book value would be reported on a statement of cash flows under:
A) the operating activities
B) the investing activities
C) the financing activities
D) either investing activities or financing activities

Bored.   62   1 Reply

TheSin

The sale of inventory at a loss results in an ordinary loss.

The sale of inventory at a loss results in an ordinary loss.

The sale of inventory at a loss results in an ordinary loss.

Augustus1   113   2 Replies

Augustus1

The sale of inventory results in ordinary gain or loss.

The sale of inventory results in ordinary gain or loss.

The sale of inventory results in ordinary gain or loss.

Sheena Maskell   71   2 Replies

Sheena Maskell

The sale of merchandise inventory for cash is recorded in the ________.

The sale of merchandise inventory for cash is recorded in the ________.

The sale of merchandise inventory for cash is recorded in the ________.
A) general journal
B) cash receipts journal
C) sales journal
D) accounts receivable journal

sorandomkay13   33   2 Replies

sorandomkay13

The sale of repurchased shares is a(n) ________ on a statement of cash flows.

The sale of repurchased shares is a(n) ________ on a statement of cash flows.

The sale of repurchased shares is a(n) ________ on a statement of cash flows.
A) operating activity
B) investing activity
C) financing activity
D) financing activity or an investing activity

Bored.   42   1 Reply

rjckE

The sale of repurchased shares would be reported on a statement of cash flows as a:

The sale of repurchased shares would be reported on a statement of cash flows as a:

The sale of repurchased shares would be reported on a statement of cash flows as a:
A) cash inflow under the operating activities
B) cash outflow under the financing activities
C) cash inflow under the financing activities
D) cash

Harrison   74   1 Reply

msayed2004

The sales and collection cycle applies to businesses that sell goods to customers or provide ...

The sales and collection cycle applies to businesses that sell goods to customers or provide ...

The sales and collection cycle applies to businesses that sell goods to customers or provide services to customers.

▸ true

▸ false

deroth   23   1 Reply

brassgod

The sales department administrative assistant has been assigning phone order sal

The sales department administrative assistant has been assigning phone order sal

The sales department administrative assistant has been assigning phone order sales to her brother-in-law, a company sales person. Company policy is to pay commissions only on orders directly received by sales people, not on orders received over the p

barry   311   1 Reply

newstart

The sales department in any organization is usually a profit center.

The sales department in any organization is usually a profit center.

The sales department in any organization is usually a profit center.
[True or False]

NikNik   25   3 Replies

darkrouler88

The sales department wants to make sure that all customer inquiries are answered

The sales department wants to make sure that all customer inquiries are answered

The sales department wants to make sure that all customer inquiries are answered in real-time. Which of the following controls design considerations will deal with this concern?
A) security
B) authorization
C) accuracy
D) audi

barry   351   1 Reply

newstart

The Sales Discounts account is a contra account to the ________ account.

The Sales Discounts account is a contra account to the ________ account.

The Sales Discounts account is a contra account to the ________ account.
A) Sales Returns and Allowances
B) Merchandise Inventory
C) Purchases
D) Sales Revenue

H3Ko   315   2 Replies

H3Ko

The sales forecast is the cornerstone of the budgeting process.

The sales forecast is the cornerstone of the budgeting process.

The sales forecast is the cornerstone of the budgeting process.
A) True
B) False

Kwami   84   2 Replies

Kwami

The sales forecast should be primarily based on ________.

The sales forecast should be primarily based on ________.

The sales forecast should be primarily based on ________.
A) statistical analysis
B) input from sales managers and sales representatives
C) production capacity
D) input from the board of directors

jerico   382   3 Replies

cyborg

The sales journal contains columns for:

The sales journal contains columns for:

The sales journal contains columns for:
A) accounts receivable/sales revenue and supplies/inventory.
B) accounts receivable/sales revenue and inventory/accounts payable.
C) accounts receivable/sales and cost of goods sold/inventory.

gOOvER   79   1 Reply

raovatallpy

The sales journal is generated from the sales transaction file.

The sales journal is generated from the sales transaction file.

The sales journal is generated from the sales transaction file.

▸ true

▸ false

mombefor78   24   1 Reply

austsier

The sales journal is used for all sales of merchandise inventory.

The sales journal is used for all sales of merchandise inventory.

The sales journal is used for all sales of merchandise inventory.

applesauce234   28   2 Replies

applesauce234

The sales journal is used for the sale of:

The sales journal is used for the sale of:

The sales journal is used for the sale of:
A) merchandise for cash.
B) merchandise on account.
C) assets other than merchandise for cash.
D) assets other than merchandise on account.

harra   109   2 Replies

harra

The sales level at which operating income is zero is called the breakeven point.

The sales level at which operating income is zero is called the breakeven point.

The sales level at which operating income is zero is called the breakeven point.
A) True
B) False

Deprecated   166   2 Replies

Deprecated

The sales method for recognizing byproducts is conceptually correct because it is consistent with ...

The sales method for recognizing byproducts is conceptually correct because it is consistent with ...

The sales method for recognizing byproducts is conceptually correct because it is consistent with the matching principle.
[True or False]

travis   38   2 Replies

travis

The sales mix provides the weights that make up total product sales.

The sales mix provides the weights that make up total product sales.

The sales mix provides the weights that make up total product sales.
A) True
B) False

Deprecated   228   3 Replies

Samari_a

The sales of Dogs 'R Us for the years 2012, 2013, and 2014 are $40,000, $60,000 and $80,000, ...

The sales of Dogs 'R Us for the years 2012, 2013, and 2014 are $40,000, $60,000 and $80,000, ...

The sales of Dogs 'R Us for the years 2012, 2013, and 2014 are $40,000, $60,000 and $80,000, respectively. If 2012 is the base year, the trend percentage for 2013 is:
A) 0%.
B) 150%.
C) 200%.
D) 133%.

bravata   120   1 Reply

largerthanlife

The sales of Mary's Services for Years 1, 2, and 3 are $25,000, $45,000, $60,000, respectively. The ...

The sales of Mary's Services for Years 1, 2, and 3 are $25,000, $45,000, $60,000, respectively. The ...

The sales of Mary's Services for Years 1, 2, and 3 are $25,000, $45,000, $60,000, respectively. The trend percentage for Year 3 is:
A) 180%.
B) 58%.
C) 240%.
D) 42%.

upton   55   1 Reply

Laffio

The sales price of a particular unit is $19.00. The company plans to sell 7,500 units. The variable

The sales price of a particular unit is $19.00. The company plans to sell 7,500 units. The variable

The sales price of a particular unit is $19.00. The company plans to sell 7,500 units. The variable costs are $6.00 per unit and monthly fixed costs are $112,500. Given this information what is the company's total variable cost?
A) $142,500

bernie2981   515   1 Reply

nuclei

The sales price of a particular unit is $19.00. The company plans to sell 7,500 units. The variable

The sales price of a particular unit is $19.00. The company plans to sell 7,500 units. The variable

The sales price of a particular unit is $19.00. The company plans to sell 7,500 units. The variable costs are $6.00 per unit and monthly fixed costs are $112,500. Given this information what is the average fixed cost per unit?
A) $15.00 per unit

bernie2981   304   2 Replies

bernie2981

The sales quantity variance is the difference between budgeted contribution margin based on actual ...

The sales quantity variance is the difference between budgeted contribution margin based on actual ...

The sales quantity variance is the difference between budgeted contribution margin based on actual units sold of all products at the budgeted mix, and contribution margin in the flexible budget.
[True or False]

U2rodksyidj   38   1 Reply

connorfitz

The Sales Returns and Allowances account is contra-revenue.

The Sales Returns and Allowances account is contra-revenue.

The Sales Returns and Allowances account is contra-revenue.
A) True
B) False

Fast2F   66   2 Replies

Fast2F

The sales revenue of a merchandiser amounted to $22,000, sales returns and allowances amounted to ...

The sales revenue of a merchandiser amounted to $22,000, sales returns and allowances amounted to ...

The sales revenue of a merchandiser amounted to $22,000, sales returns and allowances amounted to $2,500, and sales discounts amounted to $800. The merchandiser uses a perpetual inventory system. The first entry in the closing process would include _

SethHuddleston   49   3 Replies

husne

The sales revenue of a merchandiser amounted to $25,000, sales returns and allowances amounted to ...

The sales revenue of a merchandiser amounted to $25,000, sales returns and allowances amounted to ...

The sales revenue of a merchandiser amounted to $25,000, sales returns and allowances amounted to $2,400, and sales discounts amounted to $600. The merchandiser uses a perpetual inventory system. The first entry in the closing process would include _

H3Ko   321   2 Replies

H3Ko

The sales tax liability account is debited when the seller collects sales taxes from customers.

The sales tax liability account is debited when the seller collects sales taxes from customers.

The sales tax liability account is debited when the seller collects sales taxes from customers.
[True or False]

Sondos eyad   43   1 Reply

sanchezu10

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

The sales value at splitoff method ________.

The sales value at splitoff method ________.

The sales value at splitoff method ________.
A) allocates joint costs to joint products on the basis of the relative total sales value at the splitoff point
B) allocates joint costs to joint products on the basis of a comparable physical me

jerico   214   3 Replies

cyborg

The sales volume variance helps managers understand

The sales volume variance helps managers understand

[html]The sales volume variance helps managers understand

▸ the effects of price changes on actual results.

▸ the impact of greater actual sales over budgeted sales due to selling more units.

▸ flexible budget variances.

▸ why the company's actua

arpylzr75   32   1 Reply

hemmatmahdi12

The sales volume variance is a result of the difference between the actual sales price and the ...

The sales volume variance is a result of the difference between the actual sales price and the ...

The sales volume variance is a result of the difference between the actual sales price and the budgeted sales price.
A) True
B) False

Deprecated   132   2 Replies

Deprecated