Archives: Quiz
Chapter 1 1 Most Corporations The CFO Ranks Under The
Chapter 1: Overview True/False Page 1 (Difficulty Levels: Easy, Easy/Medium, Medium, Medium/Hard, and Hard) Note that there is an overlap between the T/F and multiple-choice questions, as some of the T/F statements are used in multiple-choice questions. See the preface […]
Chapter 8 2 Which The Following Would Not Included
127. Which of the following would not be included with the Cash and Equivalents on the Balance Sheet? 128. During 2010, Tempo Inc has monthly cash expenses of $115,000. On December 31, 2010, their cash balance is $1,437,500. The ratio […]
Preface This Can Useful The Accreditation Process Virtually
iii CONTENTS PREFACE About This Edition iv Acknowledgments v Correspondence vi AACSB Tags vii TEST QUESTIONS Chapter 1 An Overview of Financial Management 1 Chapter 2 Financial Markets and Institutions 23 Chapter 3 Financial Statements, Cash Flow, and Taxes 33 […]
Chapter 7 2 Company Mistakenly Counts More Items During
103. If a company mistakenly counts more items during a physical inventory than actually exist, how will the error affect their bottom line? 104. If a company mistakenly counts less items during a physical inventory than actually exist, how will […]
Chapter 15 Corporate Higher Because Municipal Usually Pays Tax excluded
Chapter Fifteen Questions and Exercises 1. a. Corporate higher because municipal (usually) pays tax-excluded interest. 2. Five Points Securities bid Principal Paid Paid in Year -2,000,000 2008 2,750 2,750 2,750 5,500 5,500 5,500 8,250 8,250 8,250 34,375 34,375 118,250 2009 […]
Chapter 14 The Correspondence Principle Says Every Tax That
Chapter Fourteen Questions and Exercises Examination Questions 1. The Correspondence Principle says: a. Every tax that is collected should have a corresponding fund in the government budget. b. Governments who provide the public good or service should be funded by […]
Chapter 13 The First Issue Establish What The Effect
Chapter Thirteen Questions and Exercises 1. The first issue to establish is what the effect of rate changes has been on collection history and will be on the forecast period. There have been no changes influencing the actual data. For […]
Chapter 5 3 The Posting References The Following Purchases
158. If a two-column (all-purpose) general journal, a revenue journal, and a cash receipts journal are used, indicate the journal in which each of the following transactions should be recorded: (a) Investment of additional cash in the business by the […]
Chapter 12 which of the following distinctions separates government
Chapter Twelve Questions and Exercises Examination Questions 1. Which of the following is an accurate statement about state lotteries? a. Because of individual demand for gambling, lottery proceeds are stable from year to year and easily predictable. b. Compared to […]
Chapter 5 2 Explain What Subsidiary Ledgers Are And
127. The following is an example of: Segment 2014 Percent 2013 Percent College textbooks $78,000 25.0% $55,000 18.9% High school textbooks 129,000 41.3% 115,000 39.5% Elementary school textbooks 105,000 33.7% 121,000 41.6% Total textbook revenue $312,000 100% $291,000 100% 128. […]
Chapter 11 Fair Cash Value In Thousands Nixon 69535
Chapter Eleven Questions and Exercises Booneville 4.625 2,775 2. Property is only reassessed when sold, resulting in increased assessed value and property tax burden of those moving into the neighborhood compared to long-time residents. 3. TOTAL APPRAISED VALUE = 150,000,000 […]
Chapter 5 1 An System The Methods And
Chapter 5—Accounting Systems Key 1. Businesses must implement controls to help guide the behavior of their employees toward business objectives. 2. The methods or procedures used to record and report financial data are called the accounting system. TRUE 3. Systems […]
Chapter 10 Farmer Textile Company Va Tax 22 Price
Chapter Ten Questions and Exercises 3. Alcoholic Beverages Tobacco Lowest 176/10,531 = 1.67% 259/10,531 = 2.46% Second 272/27,674 = 0.98 337/27,674 = 1.22 Third 413/46,213 = 0.89 381/46,213 = 0.82 Fourth 506/72,460 = 0.70 371/72,460 = 0.51 Highest 917/158,388 = […]
Chapter 4 4 Journal Entries Cash 6500 Dana Bowen Capital
193. After all adjustments have been made, but before the accounts have been closed, the following balances were taken from the ledger of Ramona’s Designs: Accounts Payable $ 27,600 Rent Expense $ 32,700 Accounts Receivable 64,500 Salary Expense 41,390 Accumulated […]
Chapter 9 Blue And Jones State Liability Decreases 50
Chapter Nine Questions and Exercises 1. a. Blue and Jones: state liability decreases by $50 for each. b. Federal deductions increase by $100 (charitable deduction) and decrease by $50 (state income tax). Federal taxable income thus falls by $50. Taxability […]
Chapter 4 3 Hakik Enterprises Offers Rug Cleaning Services
173. Hakik Enterprises offers rug cleaning services to business clients. Below are the adjustments data for the year ended July 31, 2010. REQUIRED: Using this information along with the spreadsheet below, record the adjusting entries in proper general journal form. […]
Chapter 8 Governments The United States Use Broad Portfolio
Chapter Eight Questions and Exercises Examination Questions 1. Governments in the United States use a broad portfolio of taxes. Not all levels use the same taxes to the same degree. Which of the following statements is not correct? a. At […]
Chapter 4 2 Summary Selected Ledger Accounts Appear Below
119. A summary of selected ledger accounts appear below for Alberto’s Plumbing Services for the current calendar year end. Alberto, Capital 12/31 8,500 1/1 6,500 12/31 15,000 Alberto, Drawing 6/30 3,500 12/31 8,500 11/30 5,000 Income Summary 12/31 18,500 12/31 […]
Chapter 7 The Before tax Rate Return Should Used revenues Received
Chapter Seven Questions and Exercises NOTE: Some instructors may choose to combine this chapter with chapter 14, Debt Administration, because capital budgeting is (in practice) often related to debt policy. 1. The requests as submitted will obviously shatter the ceiling […]
Chapter 4 1 Round Tripping Fraudulent Scheme Where Business Artificially
Chapter 4—Completing the Accounting Cycle Key 1. After analyzing transactions, the next step would be to post the transactions in the ledger. 2. The most important output of the accounting cycle is the financial statements. TRUE 3. The work sheet […]
Chapter 6 The Measures Appear Measure Activities And Not
Chapter Six Questions and Exercises 1. A number of program constructions are possible, depending on the issues viewed as important. One construction could be: 2. The current classification is by object of expenditure. An alternative classification could organize around the […]
Chapter 3 3 November 1st Clients Great Designs Company
176. For each of the following, journalize the necessary adjusting entry: (a) A business pays weekly salaries of $22,000 on Friday for a five-day week ending on that day. Journalize the necessary adjusting entry at the end of the fiscal […]
Chapter 5 Price Change Postage 5500 Requested Cover Postal
Chapter Five Questions and Exercises 1. The analysis should begin with a test of ratios, shares, and trend, probably within a spreadsheet. The investigation could examine 1) how the categories have increased over time, 2) how the share of the […]
Chapter 3 2 Two Income Statements For Enterprises Are
131. Two income statements for PS Enterprises are shown below: PS Enterprises Income Statement For the Years Ended December 31, 2014 and 2013 2014 2013 Fees earned $674,350 $520,600 Operating expenses 472,045 338,390 Operating income $202,305 $182,210 Prepare a vertical […]
Chapter 4 Which The Following Statements About State Budget
Chapter Four Questions and Exercises No answers provided. Examination Questions 1. Which of the following statements about state budget processes is correct? 2. The state of Alabama has legally earmarked around 85 percent of its state budget. This means that… […]
Chapter 3 1 The Revenue Recognition Concept Not Conflict
Chapter 3—The Adjusting Process Key 1. The system of accounting where revenues are recorded when they are earned and expenses are recorded when they are incurred is called the cash basis of accounting. 2. Generally accepted accounting principles require accrual-basis […]
Chapter 3 The Office Management And Budget Website Address
Chapter Three Questions and Exercises Examination Questions 1. Suppose that when he took office in January 2009, President Obama wanted to reduce the level of spending by the Drug Enforcement Administration during fiscal 2009. What budget procedure would allow him […]
Chapter 2 4 jumpstart pays the amount due. journalize this event
221. All nine transactions for Dalton Survey Company for September, the first month of operations, are recorded in the following T accounts: Cash Michael Dalton, Capital (1) 20,000 (3) 7,500 (1) 20,000 (7) 6,900 (5) 2,600 (9) 4,700 (6) 5,500 […]
Chapter 2 executive consideration, legislative consideration, audit
Chapter Two Questions and Exercises . 2. a. Defense outlay change: (693,586 / 294,362) – 1 = 135.6 Nondefense outlay change: (658.2 / 319.7) – 1 = 105.9 Defense prices: (1.1327 / 0.8147) – 1 = 39.0 Nondefense prices: (1.1256 […]
Chapter 2 3 Several Transactions Are Listed Below With
208. The following two situations are independent of each other. 1. On June 1, the cash account balance was $45,750. During June, cash payments totaled $243,910 and the June 30 balance was $53,200. Determine the cash receipts during June and […]
Chapter 1 Yes Total Project Benefits 4900 Exceed Total
Chapter One Questions and Exercises 1. a. Yes. Total project benefits (4,900) exceed total project cost (4,000). b. No. No individual has benefits greater than cost of project. c. No. Based on net benefits, A and B would vote yes; […]
Chapter 13 2 Project Management Organizational Structures In The Project
Chapter 13: Project Management Organizational Structures 35. In , there is little opportunity for members of different project teams to share knowledge or technical expertise, because each project team tends to be isolated. a. an autonomous project organizational structure b. […]
Chapter 2 2 insurance expense transactions account(s) debited
144. In accordance with the debit and credit rules, which of the following is true? 145. All of the following accounts are increased with a debit except: A. Unearned Revenues B. Land C. Accounts Receivable D. Cash 146. Which of […]
Chapter 13 1 For Such Projects A multifunctional Project Team Task
CHAPTER 13: PROJECT MANAGEMENT ORGANIZATIONAL STRUCTURES 1. A disadvantage of a functional organizational structure is that functional–type organizations can be insular with each component concerned about only its own performance. a. True b. False 2. A disadvantage of a functional […]
Chapter 2 1 Accounts Not Reflect Money Amounts Are
Chapter 2—Analyzing Transactions Key 1. Accounts are records of increases and decreases in individual financial statement items. 2. A chart of accounts is a listing of accounts that make up the journal. FALSE 3. The chart of accounts should be […]
Chapter 12 3 Recipients For Documents Distribution List Actions Required
Chapter 12: Project Communication and Documentation 106. All of the following are guidelines for preparing project reports to help ensure usefulness and value to the recipients except a. Make reports concise, readable, and understandable. b. Use short, understandable sentences rather […]
Chapter 1 3 Identify Each The Following Either Internal
178. Identify each of the following as either internal or external users of accounting information. 179. Determine the missing amount for each of the following: Assets Liabilities Owner’s Equity (a) $38,000 $45,000 $30,000 (b) $22,000 $53,000 $ 32,000 (c) (a) […]
Chapter 12 2 The Purpose This Preliminary Design review Meeting Get
Chapter 12: Project Communication and Documentation 84. Teleconferencing can help facilitate the sharing of information in a more interactive way than perhaps email. a. True b. False 85. body language can include direct eye contact, a smile, hand gestures, leaning […]
Chapter 1 2 Explain The Meaning Of A The
129. List the five steps in the process by which accounting provides information to users. 130. What is the major difference between the objective of financial accounting and the objective of managerial accounting? The objective of financial accounting is to […]
Chapter 12 1 During The Meeting The Project Manager Should
CHAPTER 12: PROJECT COMMUNICATION AND DOCUMENTATION 1. Personal verbal communication can take place face–to-face, via telephone, voicemail, or videoconferencing. a. True b. False 2. Verbal communication provides a forum for discussion, clarification, understanding, and immediate feedback. a. True b. False […]
Chapter 1 1 Profit The Difference Between Assets And
Chapter 1—Introduction to Accounting and Business Key 1. The main objective of a not-for-profit business is not to make a profit. 2. An example of an external user of accounting information is the federal government. TRUE 3. A corporation is […]
Chapter 11 3 Which Approach Can Cause The Conflict Fester
Chapter 11: The Project Team 176. Team building is the responsibility of a. both the project manager and the project team. b. the project manager. c. the project team. d. the organization’s management. 177. Socialization among team members supports a. […]
Chapter 11 2 the round-robin process continues until no one can come up
Chapter 11: The Project Team 107. In brainstorming, the round-robin process continues until no one can come up with any more ideas or the time limit is up. a. True b. False 108. Two important rules must be followed for […]
Chapter 11 1 people who have never worked together are assigned to
CHAPTER 11: THE PROJECT TEAM 1. In many projects, people who have never worked together are assigned to the same project team. a. True b. False 2. A personal relationship between two people takes time to develop and teams evolve […]
Chapter 10 2 Thereto Develop The Skills Necessary Effective Project
Chapter 10: The Project Manager 78. Effective negotiations strengthen relationships, not erode them. a. True b. False 79. Good project managers manage their time well. a. True b. False ANSWER: True FEEDBACK: Correct Good project managers manage their time well. […]
Chapter 10 1 During Individual Meetings With The Project Team
CHAPTER 10: THE PROJECT MANAGER 1. The project manager maintains authority and assigns responsibility to specific individuals or subcontractors for the various tasks. a. True b. False 2. Finally, and most important, the task of organizing involves creating an environment […]
Chapter 9 Closing The Project1 The System Should
CHAPTER 9: CLOSING THE PROJECT 1. The system should organize information so that it has complex commands to retrieve information by category or subject of lesson learned or by key words. a. True b. False 2. The project team should […]
Chapter 8 Sometimes Sponsor Identifies Major Risks The Project
CHAPTER 8: MANAGING RISK 1. The project manager needs to set the tone for encouraging open and timely discussion of risks among the project team. a. True b. False 2. A risk is an uncertain event that, if it occurs, […]
Chapter 7 2 Forecasted Cost Completion Cumulative Actual Cost Total
Chapter 7: Determining Costs, Budget, and Earned Value 42. As data are collected on , including portions of any committed cost, they need to be totaled by work package so that they can be compared to the a. planned cost, […]
Chapter 7 1 This Especially True For Longer term projects b The Beginning
CHAPTER 7: DETERMINING COSTS, BUDGET, AND EARNED VALUE 1. It is good practice to have the person who will be responsible for the costs associated with the work make the cost estimates. a. True b. False 2. Historical data can […]