User Account

All Pages

Characteristic of the strategic planning process

Assignment Help Accounting Basics
Reference no: EM13515535

1. Which task should the general ledger perform?

a. update the general ledger
b. prepare journal vouchers
c. have custody of physical assets
d. have record-keeping responsibility for special journals of subsidiary ledgers

2. The Ozment Corporation uses a performance reporting system that shows online the data for each subordinate who reports to a supervisor. The data presented show the actual costs incurred during the period, the budgeted costs, and all variances from budget for that subordinate's department.

The name of this system of reporting is a. contribution accounting.
b. responsibility accounting.
c. flexible budgeting.
d. program budgeting.
e. cost-benefit accounting.

3. Which of the following is not a characteristic of the strategic planning process?

a. emphasis on both the short and long run
b. analysis of external economic factors
c. review of the attributes and behavior of the organization's competition
d. analysis and review of departmental process
e. analysis of consumer demand

4. The following are all output reports of the financial reporting system, EXCEPT

a. variance analysis report.
b. statement of cash flows.
c. tax return.
d. comparative balance sheet.

5. Which of the following budgeting processes is LEAST likely to motivate managers toward organizational goals?

a. setting budget targets at attainable levels
b. participation by subordinates in the budgetary process
c. use of management by exception
d. holding subordinates accountable for the items they control
e. having top management set budget levels

Reference no: EM13515535

Questions Cloud

What is the frequency of sound heard by the driver of car : A car moving at 35 m/s approaches a stationary whistle that emits a 220Hz sound. The speed of sound is 343m/s. What is the frequency of sound heard by the driver of the car
Basic principles of stock options : The maximum gain equals the stock price minus the striking price.
What is the moment of inertia of the cyclinder : A solid cyclinder of mass 2.0 kg and radius 0.2 m is rotating uniformly at an angular velocity 2.0 rad/s around the fixed axis through the center O. What is the moment of inertia of the cyclinder
Explain what will happen when phenyl grignard react : Use arrows to predict what will happen when you react phenyl Grignard (C6H5MgCl) with 3-methyl-2-butanone followed by treatment with HCl and distillation
Characteristic of the strategic planning process : The are all output reports of the financial reporting system - Characteristic of the strategic planning process
Define the equivalence point in the titration of pyrimidine : Find the pH and volume (mL) of 0.477 M HNO3 needed to reach the equivalence point(s) in the titration of 2.65 L of .0750 M pyrimidine (C5N5N).
Adverse selection problems increased in prominence : Adverse selection problems increased in prominence in the 1980s - as deregulation required savings and loans and mutual savings banks to be more cautious.
What is the center-of-mass velocity : Two blocks of the same mass 0.5 kg head-on collide on a frictionless horizontal surface. The velocities before the collision are v1 = 1.0 m/s, v2 = -3.0 m/s. What is the center-of-mass velocity
Basic principles of stock options : A person who buys an option may do any of the following except

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the materials price

High Sounds manufactures wind chimes that have a standard material cost of 2 pounds of raw materials at $1.50 per pound. During March, 10,000 pounds of raw materials costing $1.55 per pound were used in making 4,800 wind chimes. What is the (1) ma..

  An aging of a companys accounts receivable indicates that

an aging of a companys accounts receivable indicates that 4500 are estimated to be uncollectible. if allowance for

  Find the payback for investment

George Williams buys a machine for his business. The machine costs $150,000. George estimates that the machinecan produce $40,000 cash inflow per year for the next fiveyears. George's cost of capital is 10 percent. What is the payback for this inv..

  Limitations of traditional accounting architecture

Explain the limitations of the traditional accounting architecture that make it difficult to directly trace the cash flows of an organization. Did FASB respond properly to accounting's information customers? Justify your response.

  Discuss why the procedures are used

For each situation, discuss why the procedures are used and how they provided effective internal control.

  Prepare adjusting entry to record the uncollectable accounts

At the end of the current year, Accounts Receivable has a balanced of $800,000; Allowance for Doubtful accounts has a debit balance if $2000; and Net Sales for the year total $2,200,000. Bad debt expense is estimated at 1/2 of 1% of net sales. Pre..

  Salaries and wages payable 0 there are eight salaried

problem 3-4aa review of the ledger of d. j. moore company at december 31 2012 produces the following data pertaining to

  Interest in the stock of finley corporation

Nance Company owns 30% interest in the stock of Finley Corporation. During the year, Finley pays $25,000 in dividends to Nance, and reports $100,000 in net income. Nance Company's investment in Finley will increase by

  Amount of un-realized intercompany profit

The inventory cost Yukon $260,000 and was sold to Ontario for $390,000. Ontario still had $60,000 of the goods in its inventory at the end of the year. The amount of unrealized intercompany profit which should be eliminated in the consolidation pr..

  Increase in net operating income

An increase in net operating income (NOPAT) will cause which of the following?

  Rediger inc a manufacturing company has provided the

1.hamilton company uses job-order costing. manufacturing overhead is applied using a predetermined rate of 150 of

  Size of the bank actual reserves

Suppose the National Bank of Commerce has excess reserves of $7,000 and outstanding checkable deposits $160,000. If the reserve ratio is 20 percent, what is the size of the bank's actual reserves?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd