Archives: Quiz
Chapter 6 1 The Length Time Required Produce
Chapter 6—Activity-Based Costing and Management Key 1. Unit-level activities are performed each time a unit is produced. 2. Factors that measure the consumption of activities by products and other cost objects are value-added costs. FALSE 3. Activity drivers should be […]
Chapter 17 Which of the following factors influence the interest
Chapter 17—MANAGEMENT OF CURRENT LIABILITIES MULTIPLE CHOICE 1. Which of the following factors influence the interest cost of a loan? a. the size of the loan b. existence of compensating balances c. loan discounting d. All of these answers are […]
Chapter 16 Is the fastest growing solid waste problem in the world
CHAPTER 16—SOLID AND HAZARDOUS WASTE MULTIPLE CHOICE 1. Electronic waste a. Is the fastest growing solid waste problem in the world b. May contain valuable metals that could be recycled c. Primarily ends up in landfills d. Two of the […]
Chapter 5 3 Indigo Inc Manufactures Product That Passes
121. Royal, Inc., manufactures products that pass through two or more processes. The company uses the weighted average method to compute unit costs. During April, equivalent units were computed as follows: Materials Conversion Cost Units completed 90,000 90,000 Units in […]
Chapter 16 Determine Warrens Pretax Earnings The Funds Released
d. rate of interest on borrowed funds 95. Renfro Industries balance sheet for December 31, 20×3 is as follows: Assets ($000) Liabilities and Equity ($000) Cash $ 8,000 Accounts Payable $ 36,000 Marketable Securities 4,000 Notes Payable 12,000 Accounts Receivable […]
Chapter 15 With immediate and sustained action to stop production of
66. Which of the following statements is false? a. Ozone in the lower stratosphere shields the earth from about 95% of the sun’s harmful ultraviolet rays. b. CFCs are odorless and stable. c. CFCs are nonflammable, nontoxic, and noncorrosive. d. […]
Chapter 5 2 The Following Amounts Were Selected From
86. Burgundy Manufacturing uses a process cost system and computes cost using the weighted average method. During the current period, the beginning work-in-process inventory cost was $13,525. Manufacturing cost added was $57,000. If Burgundy’s ending work-in-process inventory was valued at […]
Chapter 16 The Cost Funds Invested Inventories Measured
Chapter 16—WORKING CAPITAL POLICY AND MANAGEMENT OF CURRENT ASSETS MULTIPLE CHOICE 1. The length of the operating cycle is equal to the length of the a. inventory conversion period b. receivables conversion period c. cash conversion period d. inventory conversion […]
Chapter 15 Which of the following statements is true about the ice that covers
CHAPTER 15—AIR POLLUTION, CLIMATE CHANGE, AND OZONE DEPLETION MULTIPLE CHOICE 1. Which of the following statements is true about the ice that covers much of Greenland? a. The glaciers are as much as two miles deep. b. The ice contains […]
Chapter 5 1 Which Type Costing System Works Best
Chapter 5—Process Costing Key 1. Process costing accumulates costs by processing departments rather than by individual jobs. 2. Process costing is most appropriate for manufacturers of homogeneous products. TRUE 3. Process costing is not appropriate for companies providing services. FALSE […]
Chapter 15 Dividend reinvestment plans involve the purchase of
Chapter 15—DIVIDEND POLICY MULTIPLE CHOICE 1. The dividend “clientele effect” concept was originally developed by a. Myron Gordon b. Merton Miller and Franco Modigliani c. Milton Friedman d. Paul Samuelson 2. Dividend reinvestment plans involve the purchase of ANS: B […]
Chapter 14 mimic used in the production of hardened plastic products
CHAPTER 14—ENVIRONMENTAL HAZARDS AND HUMAN HEALTH MULTIPLE CHOICE 1. Bisphenol A (BPA) is an estrogen mimic used in the production of hardened plastic products. This chemical is a problem when a. It is embedded in plastic containers of food products. […]
Chapter 4 2 Figure 45 Schultz Lawnmower Company Makes
94. Figure 4-4. Tiger Company uses job-order costing. At the end of the month, the following data was gathered: Job # Total Cost Complete? Sold? 429 $409 no no 430 $513 yes no 431 $115 no no 432 $790 yes […]
Chapter 14 The Modigliani-Miller theory that the value of the firm is independent
Chapter 14—CAPITAL STRUCTURE POLICY: THEORY AND PRACTICE MULTIPLE CHOICE 1. In analyzing the value of the firm as a function of capital structure, the present value of the tax shield benefit is offset by the present value of the expected […]
Chapter 13 Which of the following is a disadvantage of hydropower
49. Which of the following is a disadvantage of hydropower? a. It creates high levels of carbon dioxide emissions. b. There is a high environmental impact from flooding land to form a reservoir. c. The cost of electricity produced from […]
Chapter 4 1 Which The Following Not Characteristic Job order
Chapter 4—Job-Order Costing Key 1. Manufacturing and service firms producing unique products or services require process-costing accounting systems. 2. The difference between actual overhead and applied overhead is the overhead variance. TRUE 3. If actual overhead is greater than applied […]
Chapter 13 When fixed operating costs are incurred by the firm
Chapter 13—CAPITAL STRUCTURE POLICY: FOUNDATION CONCEPTS MULTIPLE CHOICE 1. Raw material and direct labor costs are examples of a. fixed costs b. overhead costs c. variable costs d. capital costs 2. When fixed operating costs are incurred by the firm, […]
Chapter 13 could meet the electricity needs of the western half
CHAPTER 13—ENERGY MULTIPLE CHOICE 1. The U.S. Department of Energy estimates that wind farms at favorable sites in North Dakota, South Dakota, Kansas and Texas a. could meet the electricity needs of the western half of the United States, minus […]
Chapter 3 2 Cost volume profit Graph The Breakeven Point Where
80. On a cost-volume-profit graph, the break-even point is where 81. Which of the following is not an assumption used to prepare a cost-volume-profit graph? A. linear costs within the relevant range B. units produced equals units sold C. constant […]
Chapter 12 The cost of capital isa. the rate of return required by investors
Chapter 12—THE COST OF CAPITAL MULTIPLE CHOICE 1. For a company that is not planning to change its target capital structure, the proportions of debt and equity used in calculating the weighted cost of capital should be based on the […]
Chapter 12 at the exact middle point of the earthquake’s origin along
CHAPTER 12—GEOLOGY AND NONRENEWABLE MINERALS MULTIPLE CHOICE 1. Gold is removed from the rock that contains it by a series of leaching operations that all involve the use of a. sulfuric acid b. nitric acid c. arsenic d. highly toxic […]
Chapter 3 1 The Breakeven Point The Point Where
Chapter 3—Cost-Volume-Profit Analysis: A Managerial Planning Tool Key 1. At the breakeven point, contribution margin equals revenue. 2. The contribution margin ratio can be calculated by subtracting the variable cost ratio from one. TRUE 3. Variable expense per unit consists […]
Chapter 11 When a project has multiple internal rates of
Chapter 11—CAPITAL BUDGETING DECISION CRITERIA AND RISK ANALYSIS MULTIPLE CHOICE 1. Multiple internal rates of return can occur when there is (are): a. large abandonment costs at the end of a project’s life b. a major shutdown and rebuilding of […]
Chapter 11 Which of the following statements about underground contaminants
56. Arsenic is released into drinking water a. from inorganic fertilizers b. from sewage and animal wastes c. from food processing facilities d. when any well is drilled down to the water table e. from mining refuse ANS: E PTS: […]
Chapter 2 3 Olson Company Makes Hearing Aids Olson
128. Blacken Company manufactures motorcycles. The company’s management accountant wants to calculate the fixed and variable costs associated with utility cost incurred by the factory. Data for the past six months were collected. Month Utility cost Machine hours March $ […]
Chapter 10 There is neither a gain or a loss on the sale of a depreciable
Chapter 10—CAPITAL BUDGETING AND CASH FLOW ANALYSIS MULTIPLE CHOICE 1. The value of resources used in an investment project should be measured in terms of their a. acquisition cost b. historical cost c. opportunity cost d. depreciated cost 2. Sale […]
Chapter 11 Water that is used for crop irrigation in southern California’s
CHAPTER 11—WATER RESOURCES AND WATER POLLUTION MULTIPLE CHOICE 1. Water that is used for crop irrigation in southern California’s Imperial Valley originates as snowmelt in the a. Sierra Nevada mountain range b. Tehachapi mountain range of southern California c. Rocky […]
Chapter 2 2 Figure 28 Martin Company Makes Cell
90. Figure 2-8. Martin Company makes cell phones. The company controller wanted to calculate the fixed and variable costs associated with electricity using in the factory. Data for the past four months were collected: Month Electricity cost Machine hours January […]
Chapter 9 The market value of common stock is primarily based
Chapter 9—COMMON STOCKS AND PREFERRED STOCKS MULTIPLE CHOICE 1. Which of the following is not a characteristic of common stock: a. it has no maturity date b. it is considered a permanent form of long-term financing c. it has claims […]
Chapter 10 consumers chose to eat fish species that are primary consumers instead
BLOOM’S TAXONOMY: KNOWLEDGE 53. The process least likely to conserve soil nutrients is a. crop rotation b. fertilizing with compost c. fertilizing with green manure d. fertilizing with animal manure e. irrigation ANS: E PTS: 1 DIF: Moderate TOP: 10-6 […]
Chapter 2 1 Knowing How Costs Change Output Changes
Chapter 2—Cost Behavior Key 1. A cost that does not change in total as output changes is a variable cost. 2. The cost of raw materials used is usually a variable cost. TRUE 3. Fixed costs are costs that in […]
Chapter 8 Markos Risk Class Percent What Will The
Chapter 8—BONDS AND OTHER SOURCES OF DEBT MULTIPLE CHOICE 1. Zero coupon bonds are an example of a. original issue deep discount bonds b. extendible notes c. convertible bonds d. floating rate notes 2. If a firm could sell a […]
Chapter 10 Which of the following is a likely scenario for an organic farm
CHAPTER 10—FOOD, SOIL, AND PEST MANAGEMENT MULTIPLE CHOICE 1. Which of the following is a likely scenario for an organic farm? a. use of synthetic pesticides b. use of synthetic fertilizers c. use of genetically engineered seeds d. use feed […]
Chapter 7 The Standard Deviation Returns Gamma Percent And
Chapter 7—ANALYSIS OF RISK AND RETURN MULTIPLE CHOICE 1. The ____ is a statistical measure of the mean or average value of the possible outcomes. a. probability distribution b. standard deviation c. expected value d. coefficient of variation 2. The […]
Chapter 1 3 The Butchart Company manufactures microwave ovens
165. The Butchart Company manufactures microwave ovens. Last year, the per-unit product cost was $56, the per-unit prime cost was $34, and the per-unit conversion cost was $42. Cost of Goods Sold for the year was $560,000 and the sale […]
Chapter 9 Strip cutting of timber is a method of harvesting that
CHAPTER 9—SUSTAINING BIODIVERSITY: THE ECOSYSTEM APPROACH MULTIPLE CHOICE 1. The Green Belt Movement, founded by Wangari Maathai, combines tree planting and preservation with a. a drug rehabilitation program b. a women’s self help group that addresses poverty c. a family […]
Chapter 6 You Are now Years Old How Much Must
b. $3,100 c. $2,706 d. $1,100 63. Sales for Triad Inc. have grown from $2 million to $8.092 million in 10 years. What is the implied growth rate of sales for Triad? a. 24.72% b. 4.05% c. 15.0% d. 12.2% […]
Chapter 1 2 selling expenses 81,320 administrative expenses
129. Figure 1-3. Bartlow, Inc. had the following Income Statement for the month of May. Sales Revenue $428,000 Cost of Goods Sold 205,440 Gross Margin 222,560 Less: Selling Expenses 81,320 Administrative Expenses 72,760 Operating Income $ 68,480 Refer to Figure […]
Chapter 8 An increase in the number of polar bears seen visiting human
CHAPTER 8—SUSTAINING BIODIVERSITY: THE SPECIES APPROACH MULTIPLE CHOICE 1. The most important threat to survival of polar bears at this time is a. ocean currents delivering pollutants to the Arctic Ocean from oceans in more temperate climate zones b. hunting […]
Chapter 6 Finding the discounted current value of $1,000 to be received
Chapter 6—THE TIME VALUE OF MONEY MULTIPLE CHOICE 1. Other names for the interest rate include all of the following except: a. inflation rate b. opportunity rate c. discount rate d. required rate of return 2. The present value of […]
Chapter 1 1 Financial Accounting Has Mandatory Rules Internally
Chapter 1—Managerial Accounting Concepts and Decision Making Support Key 1. Both managerial and financial accounting are governed by GAAP. 2. Managerial Accounting is designed primarily for external users. FALSE 3. Management accounting information is only used by manufacturing organizations. FALSE […]
Chapter 7 2 Estuaries and coastal wetlands are important for all of the following
64. Estuaries and coastal wetlands are important for all of the following reasons except a. nursery grounds for a variety of marine species b. filtering out waterborne pollutants c. reduction of storm damage d. providing coral for limestone production and […]
Chapter 5 all of the following balance sheet and income statement items
Chapter 5—LONG-TERM AND SHORT-TERM PLANNING MULTIPLE CHOICE 1. An anticipated need for short-term borrowed funds is best shown in a. an operating budget b. a capital budget c. a production budget d. a cash budget 2. In the percent-of-sales forecasting […]
Chapter 7 Which terrestrial ecosystem has been disturbed by human activity
CHAPTER 7—CLIMATE AND BIODIVERSITY MULTIPLE CHOICE 1. The primary influence on variation in climate is a. slope angle b. elevation and slope angle c. temperature and slope angle d. average annual precipitation and temperature e. humidity and elevation ANS: D […]
Chapter 4 The appropriate standard for comparison of financial ratios probably
Chapter 4—EVALUATION OF FIRM PERFORMANCE MULTIPLE CHOICE 1. Which of the following financial ratios are market-based ratios? a. debt-to-equity b. price-to-earnings c. return on investment d. all of the above 2. The appropriate standard for comparison of financial ratios probably […]
Chapter 6 Smart growth or new urbanism tools include greenbelts around cities
52. Which of the following statements is false? a. About 1.2 million people are killed worldwide annually in motor vehicle accidents. b. Motor vehicles are the largest source of air pollution. c. More Americans have been killed by automobiles than […]
Chapter 3 Which of the following are not part of “current assets?”
Chapter 3—REVIEW OF FINANCIAL STATEMENTS MULTIPLE CHOICE 1. Major components of a firm’s balance sheet include: a. Sales b. Cost of goods sold c. Current assets d. a and b 2. Which of the following are not part of “current […]
Chapter 6 Which of the following statements about China is not accurate
CHAPTER 6—THE HUMAN POPULATION AND URBANIZATION MULTIPLE CHOICE 1. Which of the following statements about China is not accurate? a. In the 1960’s, the population was growing so fast there was a serious threat of mass starvation. b. It is […]
Chapter 2 Securities not listed on exchanges are said to be traded a
Chapter 2—THE BUSINESS ENVIRONMENT MULTIPLE CHOICE 1. Financial intermediaries include a. securities brokers b. securities dealers c. investment bankers d. none of the above 2. The following are listed security exchanges in the United Sates: ANS: D PTS: 1 OBJ: […]
Chapter 5 Hawks typically forage for their rodent prey species
CHAPTER 5—BIODIVERSITY, SPECIES INTERACTIONS, AND POPULATION CONTROL MULTIPLE CHOICE 1. The southern sea otter population, although hunted to near extinction, recovered during the years a. 1850 to 1900 b. 1900 to 1938 c. 1938 to 2010 d. 1938 to 1968 […]