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1. Which of the following is not a financial market?
a. bond market
b. a market in which small business owners buy and sell their companies
c. stock market
d. All of these are financial markets
2. A financial market is:
a. a place where investors can buy and sell securities
b. the stock market
c. regulated by well-defined rules and regulations
d. All of the above
3. Which of the following does not cause accounting profit and cash flow to differ
a. depreciation
b. sales made on credit
c. payroll expense
d. inventory purchased, but not yet sold
4. Differences between net income and cash flow come from:
a. accounts receivable
b. depreciation
c. short term securities
d. a and b
If Roland declared $150,000 of cash dividends on preferred stock and has 100,000 shares of common stock outstanding throughout the year, earnings per share is:
question 5nbspnbspnbspnbspnbsp ddd grills inc. makes a single product-a handmade nbspspecialty barbeque grill that
At the end of the current year, the accountant for Navistar Graphics forgot to make an adjusting entry to accrue Wages payable to the company's employees for the last week in December.
Please indicate the journal entry to be made to record the transaction. Make sure that depreciation entries are made to update the book value of the machine prior to its disposal.
The change will result in a $1,800,000 increase in the start inventory at January 1, 2013. Consider a 40% income tax rate. Find the cumulative effect of this accounting change on beginning retained earnings
The estimate for sampling error results because the auditor has sampled only a portion of the population. Sampling error represents the:
Hults Corporation has provided data regarding the company's Manufacturing Overhead account for month of November.
1. discuss the importance of each financial statement including the balance sheet income statement and statement of
The Acme Company has an $8,000,000 balance in accounts receivable. Their CPA believes that there are very few misstatements. Which of the following would the CPA use to audit the account?
When a company amends a pension plan, for accounting purposes, prior service costs should be:
Lisa wants to invest a certain sum of money at the end of each year for five years. The investment will earn 6% compounded annually. At the end of five years, she will need a total of $40,000 accumulated. How should she compute her required annual..
At the high level of activity in November, 7,00 machines hours were run and power cost were $12,000. In April, A month of low activity 2,000 machine hours were run and power costs amounted to $6,000. Using the high-low, the estimated fixed cost el..
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