Accounting

If Martin's makes an order (1/12 of annual demand) once per month, what are the relevant total costs?

If Martin's makes an order (1/12 of annual demand) once per month, what are the relevant total costs?

If Martin's makes an order (1/12 of annual demand) once per month, what are the relevant total costs?
A) $1,500.00
B) $652.50
C) $2,152.50
D) $3,000.00

kourtni   15   2 Replies

kourtni

Hybrid transfer prices can be arrived at through negotiations.

Hybrid transfer prices can be arrived at through negotiations.

Hybrid transfer prices can be arrived at through negotiations.
[True or False]

janderson2000   15   2 Replies

janderson2000

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   15   2 Replies

monthers

Comprehensive income is the residual interest in the assets of an entity that remains after ...

Comprehensive income is the residual interest in the assets of an entity that remains after ...

Comprehensive income is the residual interest in the assets of an entity that remains after deducting its liabilities.
[True or False]

Laurenrees98   15   2 Replies

Laurenrees98

IFRS does not treat transactions with owners as separate elements.

IFRS does not treat transactions with owners as separate elements.

IFRS does not treat transactions with owners as separate elements.
[True or False]

jj88888nb   15   2 Replies

jj88888nb

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   15   3 Replies

Terrica095

All of the following accounts are permanent accounts except ________.

All of the following accounts are permanent accounts except ________.

All of the following accounts are permanent accounts except ________.
A) Accounts Payable
B) Goodwill
C) Dividends
D) Marketable Securities

shelbes1234   15   2 Replies

shelbes1234

A present value is always less than the corresponding future value.

A present value is always less than the corresponding future value.

A present value is always less than the corresponding future value.
[True or False]

thomas3333   15   3 Replies

curry1

The relationship between a future value and its corresponding present value is determined by the ...

The relationship between a future value and its corresponding present value is determined by the ...

The relationship between a future value and its corresponding present value is determined by the discount rate and ________.
A) number of compounding periods
B) length of compounding periods
C) principal balance
D) time of year

Josh   15   2 Replies

Josh

What are the issues to consider when determining the transaction price?

What are the issues to consider when determining the transaction price?

What are the issues to consider when determining the transaction price?

Morgs   15   2 Replies

Morgs

The general rule is that the transaction price should be allocated on the relative standalone ...

The general rule is that the transaction price should be allocated on the relative standalone ...

The general rule is that the transaction price should be allocated on the relative standalone selling prices prices unless a discount is ________.
A) not related to all of the contracts performance obligations
B) related to all of the contracts per

hello there   15   2 Replies

hello there

Refer to Costanza Auto Shop. Allocate the transaction price using the adjusted market assessment approach.

Refer to Costanza Auto Shop. Allocate the transaction price using the adjusted market assessment approach.

Refer to Costanza Auto Shop. Allocate the transaction price using the adjusted market assessment approach.

mewdie   15   1 Reply

carlx94

The inventory turnover ratio equals ________.

The inventory turnover ratio equals ________.

The inventory turnover ratio equals ________.
A) cost of goods sold divided by average inventory
B) sales revenue divided by average inventory
C) sales revenue divided by cost of goods sold
D) 365 divided by average inventory

shimaa farouk   15   2 Replies

shimaa farouk

The amount of capitalizable interest for a constructed asset is the lesser of actual interest ...

The amount of capitalizable interest for a constructed asset is the lesser of actual interest ...

The amount of capitalizable interest for a constructed asset is the lesser of actual interest incurred and avoidable interest.
[True or False]

sorandomkay13   15   2 Replies

sorandomkay13

The cost of land does not include ________.

The cost of land does not include ________.

The cost of land does not include ________.
A) costs of removing old buildings
B) costs of improvements with limited lives
C) costs of grading and clearing the land
D) legal fees and closing costs

ejones3535   15   3 Replies

Mhartman97

Onopea Inc. considered two contingencies at the end of 2016:

Onopea Inc. considered two contingencies at the end of 2016:

Onopea Inc. considered two contingencies at the end of 2016:

** a probable loss in the range of $100,000 to $700,000
** a reasonably possible loss of $150,000

Under IFRS, what is the balance for contingent liabilities at the end of 2016?
A)

Prenella10   15   2 Replies

Prenella10

Which of the following would not be considered when evaluating whether to record a contingent loss ...

Which of the following would not be considered when evaluating whether to record a contingent loss ...

Which of the following would not be considered when evaluating whether to record a contingent loss for pending litigation?
A) the type of litigation involved.
B) the ability to make a reasonable estimate of the amount of the loss
C) time period in

Jeslinn   15   2 Replies

Jeslinn

When assessing realizability of deferred tax assets, management must consider positive and negative ...

When assessing realizability of deferred tax assets, management must consider positive and negative ...

When assessing realizability of deferred tax assets, management must consider positive and negative evidence. Which of the following would be considered negative evidence?
A) existing contracts or firm sales backlog
B) a carryback or carryforward p

fluffycookie   15   2 Replies

fluffycookie

An intraperiod tax allocation ________.

An intraperiod tax allocation ________.

An intraperiod tax allocation ________.
A) results when different income statement items are taxed at different rates
B) occurs when certain revenues and expenses appear in the financial statements either before or after they are included in the in

jonathanvsjkgof   15   1 Reply

Starfiew

Prospective changes require changes be made to the current year and all future years affected.

Prospective changes require changes be made to the current year and all future years affected.

Prospective changes require changes be made to the current year and all future years affected.
[True or False]

evpalmer   15   2 Replies

evpalmer

Changes in which of the following are included in financing activities?

Changes in which of the following are included in financing activities?

Changes in which of the following are included in financing activities?
A) accounts payable
B) bonds payable
C) accounts receivable
D) property, plant, and equipment

OkeyDokey   15   3 Replies

mommytmk

Which of the following will be categorized as an operating activity on the statement of cash flows?

Which of the following will be categorized as an operating activity on the statement of cash flows?

Which of the following will be categorized as an operating activity on the statement of cash flows?
A) Cash received by selling old equipment
B) Cash paid for purchase of new machinery
C) Cash paid for purchase of office supplies
D) Cash received

ShanitaD220   15   2 Replies

ShanitaD220

Provide an explanation for each of the follow liability accounts.

Provide an explanation for each of the follow liability accounts.

Provide an explanation for each of the follow liability accounts.

Account NameExplanation
Accounts Payable


Accrued Liability


Unearned Revenue

ChesterNeupt   15   2 Replies

ChesterNeupt

The withdrawal accounts of a partnership are closed at the end of the period, as they are for a sole ...

The withdrawal accounts of a partnership are closed at the end of the period, as they are for a sole ...

The withdrawal accounts of a partnership are closed at the end of the period, as they are for a sole proprietorship.

pri   15   2 Replies

pri

Wilson, Inc. provides the following data:

Wilson, Inc. provides the following data:

Wilson, Inc. provides the following data:

20172016
Cash$43,000$25,000
Accounts Receivable, Net108,00062,000
Merchandise Inventory75,00050,000
Property, Plant, and Equipment, Net190,000120,000
Total Assets$416,000$257,000

Net Credit Sales$2

kieraahern   15   1 Reply

nsak

If the selling price of Product A1 is $10.50 per unit and unit fixed cost is $5.50, its contribution ...

If the selling price of Product A1 is $10.50 per unit and unit fixed cost is $5.50, its contribution ...

If the selling price of Product A1 is $10.50 per unit and unit fixed cost is $5.50, its contribution margin per unit is $5.00.

bgottlieb410   15   2 Replies

bgottlieb410

Which would be an appropriate cost driver for the warranty services activity?

Which would be an appropriate cost driver for the warranty services activity?

Which would be an appropriate cost driver for the warranty services activity?
A) direct labor hours
B) number of service calls
C) number of purchase orders
D) number of batches

wizspero   15   1 Reply

jamiebonf99

Gains on sale of treasury stock should be credited to:

Gains on sale of treasury stock should be credited to:

Gains on sale of treasury stock should be credited to:
A) Additional contributed capital.
B) Other income.
C) Share capital.
D) Retained earnings.

tgehbretgfhgrer   15   2 Replies

tgehbretgfhgrer

Which of the following forms part of the definition of a financial liability?

Which of the following forms part of the definition of a financial liability?

Which of the following forms part of the definition of a financial liability?
A) Cash
B) An equity instrument of another entity
C) To deliver cash or another financial asset to another party
D) A contractual right to receive cash or another finan

SoLLUMINATI   15   2 Replies

SoLLUMINATI

All of the following are evidence that recognition is not likely except:

All of the following are evidence that recognition is not likely except:

All of the following are evidence that recognition is not likely except:
A) History of tax losses expiring before they have been used
B) An expectation of losses in carry forward period
C) Unsettled circumstances that may adversely affect the comp

Benefits   15   1 Reply

rogers

You are given the following information about JG Ltd.:

You are given the following information about JG Ltd.:

You are given the following information about JG Ltd.:
Total
Accrued pension obligation, beginning of 20x13 $567,432
Value of plan assets, beginning of 20x13 $612,349
Unamortized actuarial loss, beginning of 20x13 $42,340
Vesting/Average remaini

brown_02   15   2 Replies

brown_02

What does diluted EPS take into account?

What does diluted EPS take into account?

What does diluted EPS take into account?

dboticus   15   3 Replies

terriroberts96

What is diluted EPS?

What is diluted EPS?

What is diluted EPS?

dri   15   2 Replies

caylawayla

If it is impracticable to determine the cumulative effect at the beginning or the current

If it is impracticable to determine the cumulative effect at the beginning or the current

If it is impracticable to determine the cumulative effect at the beginning or the current
period or, if it is allowed by the creation of a new accounting standard, an accounting
change may be applied prospectively
[True or False?]

hule4   15   3 Replies

Josh

The effect of recording a 100 percent stock dividend would be to:

The effect of recording a 100 percent stock dividend would be to:

The effect of recording a 100 percent stock dividend would be to:
A) leave working capital unaffected, decrease earnings per share, and decrease book value per
share.
B) leave working capital unaffected, decrease earnings per share, and decrease t

Zacellison   15   1 Reply

brake

Mr. and Mrs. Kusra are in the top tax bracket. They have just had a baby. The Kusras plan to gift a ...

Mr. and Mrs. Kusra are in the top tax bracket. They have just had a baby. The Kusras plan to gift a ...

[html]Mr. and Mrs. Kusra are in the top tax bracket. They have just had a baby. The Kusras plan to gift a corporate bond they currently own to the baby. The bond pays $2,100 of interest income per year. The Kusra family overall will save taxes if the

wtobi0411   15   1 Reply

ncent

Which of the following isnotexcluded from income?

Which of the following isnotexcluded from income?

Which of the following is not excluded from income?

▸ public assistance payments.

▸ fair market value of prize won on a game show.

▸ gifts and inheritances.

▸ life insurance proceeds paid by reason of death.

SimShady   15   1 Reply

auntviv

A business provides $45,000 of group-term life insurance to all workers, including the partners who ...

A business provides $45,000 of group-term life insurance to all workers, including the partners who ...

A business provides $45,000 of group-term life insurance to all workers, including the partners who work in the business.  All of the workers can exclude the value of this fringe benefits from their gross income.

▸ true

▸ false

shadowtest826   15   1 Reply

Clint the Flint

Special documentation rules apply to donation of

Special documentation rules apply to donation of

Special documentation rules apply to donation of

▸ motor vehicles.

▸ boats.

▸ airplanes.

▸ All of these.

mrab--   15   1 Reply

Guest

With respect to the SEC,

With respect to the SEC,

[html]With respect to the SEC,

▸ the attitude of the SEC is generally considered in any major change proposed by the FASB.

▸ the SEC is the sole agency responsible for setting generally accepted accounting principles.

▸ the SEC requirements of gre

islandgurl   15   1 Reply

yoorimchi