Accounting

________ produces the lowest cost of goods sold and the highest gross profit when prices are ...

________ produces the lowest cost of goods sold and the highest gross profit when prices are ...

________ produces the lowest cost of goods sold and the highest gross profit when prices are increasing.
A) FIFO
B) LIFO
C) Average cost
D) Specific identification

bravata   81   2 Replies

bravata

________ produces the highest cost of goods sold and the lowest gross profit when prices are ...

________ produces the highest cost of goods sold and the lowest gross profit when prices are ...

________ produces the highest cost of goods sold and the lowest gross profit when prices are increasing.
A) FIFO
B) LIFO
C) Average cost
D) Specific identification

bravata   76   1 Reply

antonio_john

________ preferred shares contain a provision requiring that preferred shareholders share ratably in ...

________ preferred shares contain a provision requiring that preferred shareholders share ratably in ...

________ preferred shares contain a provision requiring that preferred shareholders share ratably in distributions with common shareholders.
A) Cumulative
B) Participating
C) Convertible
D) Redeemable

ElsaTier99   93   2 Replies

ElsaTier99

________ perspective of the balanced scorecard focuses on a company's own operations that create val

________ perspective of the balanced scorecard focuses on a company's own operations that create val

________ perspective of the balanced scorecard focuses on a company's own operations that create value for customers that, in turn, help achieve financial objectives.
A) Financial
B) Customer
C) Internal-business-process
D)

jerico   222   3 Replies

cyborg

________ Owner withdrew $1,000 from the company for personal use

________ Owner withdrew $1,000 from the company for personal use

________ Owner withdrew $1,000 from the company for personal use

upton   66   1 Reply

Laffio

________ often incorporate sample size, items to select, and timing into the procedure.

________ often incorporate sample size, items to select, and timing into the procedure.

________ often incorporate sample size, items to select, and timing into the procedure.

▸ Audit objectives

▸ Audit procedures

▸ Audit assertions

▸ Audit programs

endah87   44   1 Reply

Sagxar

________ of software development costs should be allocated to testing, debugging, and rewriting software.

________ of software development costs should be allocated to testing, debugging, and rewriting software.

________ of software development costs should be allocated to testing, debugging, and rewriting software.

• 5% to 10%

• 10% to 20%

• 20% to 30%

• More than 30%

whatsupgirl16   198   1 Reply

kamronet

________ occurs when revenues are related to a particular revenue object but cannot be traced to it

________ occurs when revenues are related to a particular revenue object but cannot be traced to it

________ occurs when revenues are related to a particular revenue object but cannot be traced to it in an economically feasible (cost-effective) way.
A) Revenue estimation
B) Revenue allocation
C) Resource allocation
D) Revenue

jerico   270   3 Replies

cyborg

________ occurs when a decision's benefits for one subunit is more than offset by the costs to the o

________ occurs when a decision's benefits for one subunit is more than offset by the costs to the o

________ occurs when a decision's benefits for one subunit is more than offset by the costs to the organization as a whole.
A) Suboptimal decision making
B) Independent decision making
C) Congruent decision making
D) Depar

jerico   201   3 Replies

cyborg

________ misstatements are those where the auditor can determine the amount of the misstatement in ...

________ misstatements are those where the auditor can determine the amount of the misstatement in ...

________ misstatements are those where the auditor can determine the amount of the misstatement in the account.

▸ Potential

▸ Likely

▸ Known

▸ Projected

dex0388   31   1 Reply

niecey

________ method includes fixed manufacturing overhead costs as inventoriable costs.

________ method includes fixed manufacturing overhead costs as inventoriable costs.

________ method includes fixed manufacturing overhead costs as inventoriable costs.
A) Variable costing
B) Absorption costing
C) Throughput costing
D) Activity-based costing

jerico   284   3 Replies

cyborg

________ measures the relationship between actual inputs used and actual outputs achieved.

________ measures the relationship between actual inputs used and actual outputs achieved.

________ measures the relationship between actual inputs used and actual outputs achieved.
A) Strategy map
B) Planning variance
C) Productivity
D) Discretionary costs

jerico   441   3 Replies

cyborg

________ means that a person acts according to conscience, regardless of the situation.

________ means that a person acts according to conscience, regardless of the situation.

________ means that a person acts according to conscience, regardless of the situation.

▸ Caring

▸ Fairness

▸ Integrity

▸ Respect

tbparker   31   1 Reply

solid1

________ means that a group of reasonably informed financial statement users are able to reach a ...

________ means that a group of reasonably informed financial statement users are able to reach a ...

________ means that a group of reasonably informed financial statement users are able to reach a consensus decision that reported information is a faithful representation of an underlying economic event.
A) Comparability
B) Verifiability
C) Unders

Sondos eyad   32   2 Replies

Sondos eyad

________ materiality is materiality for segments of the audit.

________ materiality is materiality for segments of the audit.

________ materiality is materiality for segments of the audit.

▸ Segment

▸ Individual

▸ Financial statement

▸ Performance

jayboskeet   49   1 Reply

boomers1234

________ isnotone of the National/Regional CPA Firms.

________ isnotone of the National/Regional CPA Firms.

________ is not one of the National/Regional CPA Firms.

▸ PwC

▸ BDO USA

▸ Grant Thornton

▸ RSM US.

tunisia81   28   1 Reply

windytodai

________ isnota transaction-related audit objective for the classes of transactions underlying the ...

________ isnota transaction-related audit objective for the classes of transactions underlying the ...

________ is not a transaction-related audit objective for the classes of transactions underlying the payroll cycle.

▸ Classification

▸ Existence

▸ Timing

▸ Completeness

kincasdce123   25   1 Reply

CJWVail2

________ is/are an example of a preventive control.

________ is/are an example of a preventive control.

________ is/are an example of a preventive control.

• Emergency response teams

• Encryption

• Log analysis

• Intrusion detection

PiMaster314   97   2 Replies

PiMaster314

________ is the usual starting point for budgeting.

________ is the usual starting point for budgeting.

________ is the usual starting point for budgeting.
A) The revenues budget
B) The estimated net income
C) The production budget
D) The cash budget

jerico   593   3 Replies

cyborg

________ is the tendency to make assessments by starting from an initial value and then adjusting ...

________ is the tendency to make assessments by starting from an initial value and then adjusting ...

________ is the tendency to make assessments by starting from an initial value and then adjusting insufficiently away from that initial value.

▸ Anchoring

▸ Availability

▸ Overconfidence

▸ Confirmation

karamvir19   85   1 Reply

itsbreck

________ is the systematic investigation into an issue.

________ is the systematic investigation into an issue.

________ is the systematic investigation into an issue.
A) Interpretation
B) Judgment
C) Research
D) Analysis

janderson2000   22   3 Replies

taymak21

________ is the system for assigning costs to unique cost objects.

________ is the system for assigning costs to unique cost objects.

________ is the system for assigning costs to unique cost objects.
A) Time costing
B) Job costing
C) Service costing
D) Process costing

bernie2981   170   1 Reply

nuclei

________ is the self-confidence to resist persuasion and to challenge assumptions or conclusions.

________ is the self-confidence to resist persuasion and to challenge assumptions or conclusions.

________ is the self-confidence to resist persuasion and to challenge assumptions or conclusions.

▸ Self-esteem

▸ Interpersonal understanding

▸ Suspension of judgment

▸ Autonomy

kickykhalil   62   1 Reply

angelord2510

________ is the risk that the financial statements contain a material misstatement due to fraud or ...

________ is the risk that the financial statements contain a material misstatement due to fraud or ...

________ is the risk that the financial statements contain a material misstatement due to fraud or error prior to the audit.

▸ Inherent risk

▸ Client business risk

▸ Acceptable audit risk

▸ Risk of material misstatement

whitedreamerz   36   1 Reply

marlboroman

________ is the risk that the auditor or audit firm will suffer harm after the audit is finished, ...

________ is the risk that the auditor or audit firm will suffer harm after the audit is finished, ...

________ is the risk that the auditor or audit firm will suffer harm after the audit is finished, even though the audit report was correct.

▸ Inherent risk

▸ Audit risk

▸ Engagement risk

▸ Control risk

samanthakay   25   1 Reply

hemmatmahdi12

________ is the process of varying key estimates to identify those estimates that are the most criti

________ is the process of varying key estimates to identify those estimates that are the most criti

________ is the process of varying key estimates to identify those estimates that are the most critical to a decision.
A) The graph method
B) A sensitivity analysis
C) The degree of operating leverage
D) Sales mix

jerico   822   3 Replies

cyborg

________ is the process of installing hardware and software and getting the AIS

________ is the process of installing hardware and software and getting the AIS

________ is the process of installing hardware and software and getting the AIS up and running.
A) Conceptual design
B) Physical design
C) Systems analysis
D) Systems implementation

barry   365   1 Reply

newstart

________ is the process of distributing indirect costs to products.

________ is the process of distributing indirect costs to products.

________ is the process of distributing indirect costs to products.
A) Cost allocation
B) Job cost recording
C) Cost pooling
D) Cost tracing

jerico   347   3 Replies

cyborg

________ is the process of assigning indirect costs to products.

________ is the process of assigning indirect costs to products.

________ is the process of assigning indirect costs to products.
A) Cost allocation
B) Job cost recording
C) Cost pooling
D) Cost tracing

Chanta35   55   1 Reply

rhockeygirl

________ is the practice of charging a higher price for the same product or service when demand appr

________ is the practice of charging a higher price for the same product or service when demand appr

________ is the practice of charging a higher price for the same product or service when demand approaches the physical limit of the capacity to produce that product or service.
A) Price discrimination
B) Peak-load pricing
C) Demand-ba

jerico   204   3 Replies

cyborg

________ is the maximum cost to develop, produce, and deliver a product or service and earn the ...

________ is the maximum cost to develop, produce, and deliver a product or service and earn the ...

________ is the maximum cost to develop, produce, and deliver a product or service and earn the desired profit.
A) Sunk cost
B) Marginal cost
C) Target cost
D) Variable cost

Deprecated   151   3 Replies

Mrgo-breed

________ is the level of capacity utilization that managers expect for the current budget period, wh

________ is the level of capacity utilization that managers expect for the current budget period, wh

________ is the level of capacity utilization that managers expect for the current budget period, which is typically one year.
A) Practical capacity
B) Master-budget capacity utilization
C) Theoretical capacity
D) Normal capaci

jerico   164   3 Replies

cyborg

________ is the level of capacity based on producing at full efficiency all the time.

________ is the level of capacity based on producing at full efficiency all the time.

________ is the level of capacity based on producing at full efficiency all the time.
A) Practical capacity
B) Theoretical capacity
C) Normal capacity
D) Demand capacity

jerico   186   3 Replies

cyborg

________ is the information technology and internal control processes an organization has in place ...

________ is the information technology and internal control processes an organization has in place ...

[html]________ is the information technology and internal control processes an organization has in place to protect computers, networks, programs, and data from unauthorized access.

▸ Encryption

▸ A firewall

▸ Cybersecurity

▸ A processing control

SirJohnny   131   1 Reply

dong

________ is the fundamental rethinking and redesign of business processes to achieve improvements in

________ is the fundamental rethinking and redesign of business processes to achieve improvements in

________ is the fundamental rethinking and redesign of business processes to achieve improvements in critical measures of performance such as cost, quality, service, speed, and customer satisfaction.
A) Strategy
B) Product differentiation

jerico   255   3 Replies

cyborg

________ is the equity earned by profitable operations that is not distributed to stockholders.

________ is the equity earned by profitable operations that is not distributed to stockholders.

________ is the equity earned by profitable operations that is not distributed to stockholders.
A) Common stock
B) Assets
C) Retained earnings
D) Dividend

H3Ko   313   3 Replies

Mrgo-breed

________ is the differentiating factor while classifying a product as a main product or byproduct.

________ is the differentiating factor while classifying a product as a main product or byproduct.

________ is the differentiating factor while classifying a product as a main product or byproduct.
A) Number of units per processing period
B) Weight or volume of outputs per period
C) Percentage of total sales value
D) Joint co

jerico   884   3 Replies

cyborg

________ is the degree to which the organization's objectives are accomplished.

________ is the degree to which the organization's objectives are accomplished.

________ is the degree to which the organization's objectives are accomplished.

▸ Effectiveness

▸ Efficiency

▸ Goal optimization

▸ Performance

samanthakay   94   1 Reply

mnnewman

________ is the continuing reduction in the demand for a company's products that occurs when competi

________ is the continuing reduction in the demand for a company's products that occurs when competi

________ is the continuing reduction in the demand for a company's products that occurs when competitor prices are not met.
A) Downward demand spiral
B) Competitor pricing pressure
C) Continuous step down demand
D) Super-vari

jerico   345   3 Replies

cyborg

________ is the business philosophy and a strategy of manufacturing without waste.

________ is the business philosophy and a strategy of manufacturing without waste.

________ is the business philosophy and a strategy of manufacturing without waste.
A) TQM
B) Lean thinking
C) ISO 9001
D) Thin manufacturing

bernie2981   228   1 Reply

nuclei