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1.By converting dollars to be received in the future into current dollars, the present value methods take into consideration that money: a has an international rate of exchange b is the language of business c is the measure of assets, liabilities, and stockholders' equity on financial statements d has a time value 2. Which of the following are two methods of analyzing capital investment proposals that both ignore present value? a Internal rate of return and average rate of return b Net present value and average rate of return c Internal rate of return and net present value d Average rate of return and cash payback method 3.Which of the following is not a factory overhead allocation method? a. single plantwide rate b. multiple departmental rates c. traditional costing d. activity-based costing 4.Which of the following is a disadvantage of the single overhead rate approach to product costing? a. difficult to implement b. expensive to implement c. not practical if multiple products consume overhead in different amounts d. all of the above 5. The _________ approach to cost allocation uses multiple activity cost pools and cost drivers to apply overhead to a product cost. a. single overhead rate b. activity-based costing c. multiple department rates d. total quality management 6. Which approach to cost allocation is considered the most accurate? a. single overhead rate b. activity-based costing c. multiple department rates d. total quality management Panamint Systems Corporation is estimating activity costs associated with producing disk drives, tapes drives, and wire drives. The indirect labor can be traced to four separate activity pools. The budgeted activity cost and activity base data by product are provided below.
During the year, Henry, a sole proprietor, sold for $65,000 a machine that was used in his business. The machine had been purchased in 2003 for $50,000, and when it was sold it had an adjusted basis of $30,000. How should this gain be treated?
Locate the annual financial statements of a publicly held company on the Internet. Review the balance sheet and the accompanying notes to the financial statements.
a project will require an initial investment of 250000 and will return 50000 each year for seven years. if taxes are
Restructuring Debt
alvarez company produces various parts used in the automotive industry. the sales budget for the first eight months of
KK Company bought the delivery truck for $62,000 on January 1, 2009. They installed the rear hydraulic lift for $8,000 and paid sales tax of the $3,000.
prepare the proper adjusting journal entries for the abc company. assume all entries are made at year end december 31
The traditional U.S. GAAP method of revenue recognition fulfills the needs of the International Financial Reporting System? Why, or why not?
umanzor corporation uses activity-based costing to assign overhead costs to products. overhead costs have already been
the following defined-benefit pension data of doreen corp. apply to year 2008. projected benefit obligation january 1
The Banner Mattress and Furniture Company wishes to study the number of credit applications received per day for the last 300 days. The information is reported below:
redbird inc. is considering an addition to its current operations. the figures are below. cost of the new project
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