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1) Budgets _____. A. ignore areas that are presumed to be running smoothly B. are deviations from a plan C. provide feedback by comparing results with plans and by highlighting deviations from plans 2) Ethical accountants are important to society because _____. A. none of these answers is correct B. they will not go to prison and waste taxpayers' money C. the information produced is reliable 3) _____ refers to accounting information developed for managers within an organization. A. Managerial accounting B. Tax accounting C. Financial accounting D. Internal auditing 4) Any event that affects the financial position of an organization and requires recording is called a(n)_____. A. account B. accounting change C. posting D. transaction 5) _____ would not appear on the financial statements for a sole proprietorship. A. Cost of Goods Sold B. Unearned Sales Revenues C. Accumulated Depreciation D. Paid-in Capital 6) Valuing assets at replacement cost to facilitate the measurement of "economic income" violates the _____ accounting convention. A. objectivity B. cost benefit C. conservatism D. materiality 7) The statement of cash flows is used for all of the following except_____. A. determining a company's ability to pay its debts when they are due B. evaluating the creditworthiness of the organization C. revealing commitments that may restrict future courses of action D. showing the relationship of net income to changes in cash 8) Nonoperating items on the income statement_____. A. reflect the effects of financial management decisions B. appear on the income statement immediately after gross profit C. appear only on corporate income statements D. are revenues and expenses arising from adjusting entries 9) Which of the following is not a cost driver of customer services costs? A. All of these answers are correct B. Number of service calls is not a cost driver of customer services costs. C. Hours spent servicing products are not a cost driver of customer services costs. D. Travel costs are not a cost driver of customer services costs. 10) Which value chain function would include depreciation on transportation cost? A. The marketing function would include depreciation on transportation cost B. The production function would include depreciation on transportation cost. C. The distribution function would include depreciation on transportation cost. D. The customer service function would include depreciation on transportation cost. 11) Walnut Corporation sells desks at $480 per desk. The costs associated with each desk are as follows: Direct materials $195 Direct labor 126 Variable factory overhead 51 Total fixed costs for the period are $456,840. The contribution margin per desk is _____.
compensation tied to balanced scorecard degree of difficulty of target achievement in the mid-1990s mobile corporations
Does the warranty accrual decision create any ethical dilemma for Bly - Since warranty expenses vary, what percent do you think Bly should choose for the current year? Justify your response.
a and b form the equal ab partnership. a contributes property fmv 100000 basis 60000 and b contributes 100000 cash.
the balance in the prepaid insurance account before adjustment at the end of the year is 12000. if the additional data
At the beginning of the year, the estimated direct labor-hours were 17,900 hours and the total estimated manufacturing overhead was $341,890. At the end of the year, actual direct labor-hours for the year were 16,700 hours and the actual manufact..
this is in response to a request for each candidate to submit his or her management philosophy for the position of
high brow cow farms producers of the finest dairy products has common stock that sells for 54. dividends are expected
the robinson corporation has 53 million of bonds outstanding that were issued at a coupon rate of 7 12 percent seven
Congress has asked you to evaluate the individual tax brackets in the federal tax code and make several recommendations to improve the fairness of the tax brackets. Using the Internet and Strayer Library, research the current federal tax b..
Employers have the right (and in some cases the obligation) to see any information stored, transmitted, or communicated within the employer's environment. This legal right is the basis for monitoring (or at least explicitly stating the right to mo..
explain discrete and continuous random variable? what is a probability distribution for a discrete random variable?
enviro company issues 8 10-year bonds with a par value of 250000 and semiannual interest payments. on the issue date
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