Archives: Quiz

Exam Name___________________________________ TRUE/FALSE. Write ‘T’ if the statement is true and ‘F’ if the statement is false. 1) Your company is effective if you establish a specific goal and accomplish that goal. 1) 2) Your company is efficient if you […]

69. In joint-process costing and analysis, which of the following costs would not be relevant when deciding the point at which a product should be sold to maximize profits? AACSB: Reflective Thinking AICPA BB: Decision Making Difficulty: Easy Hilton – […]

Exam Name___________________________________ TRUE/FALSE. Write ‘T’ if the statement is true and ‘F’ if the statement is false. 1) Vertical analysis of a balance sheet is obtained by using Total Liabilities as a constant and dividing every figure on the balance […]

ch9 Key 1. An intermediate product is a product that might require further processing before it is salable to the ultimate consumer, either by the producer or by another processor. Difficulty: Easy Hilton – Chapter 09 #1 Learning Objective: 1 […]

Exam Name___________________________________ TRUE/FALSE. Write ‘T’ if the statement is true and ‘F’ if the statement is false. 1) Every business, regardless of its size, requires a full–time accountant. 1) 2) Every business, regardless of its size, should hire an accountant […]

98. Wax Company has the following information available for its process costing system for the month of July in the finishing department, the second of a multiple department manufacturing plant. Materials are added at the end of the process in […]

Exam Name___________________________________ TRUE/FALSE. Write ‘T’ if the statement is true and ‘F’ if the statement is false. 1) A plan that relates to a specific area of a business, such as marketing, is known as a strategic plan. 1) 2) […]

68. Richardson Corporation’s production cycle starts in Department A. The following information is available for May: Materials are added at the beginning of the process in Department A. What are the equivalent units of production for materials and conversion, using […]

Exam Name___________________________________ TRUE/FALSE. Write ‘T’ if the statement is true and ‘F’ if the statement is false. 1) Finance is any transaction where money is exchanged for goods and services. 1) 2) Finance is any transaction where money is exchanged […]

ch8 Key 1. In process-costing, material costs are not traced to individual units of output, as in job costing. AACSB: Reflective Thinking AICPA FN: Measurement Difficulty: Easy Hilton – Chapter 08 #1 Learning Objective: 1 2. Companies that produce products […]

113. Consider the following annual information about three companies in the same manufacturing industry: Required: (a) Compute the following for each company: (1) Sales per employee (2) Inventory turnover (3) Inventory as a percentage of sales (b) Evaluate the relative […]

84. Dunn Corporation finds that 60% of the time spent in its manufacturing process is on non-value added activities such as moving parts and inspection. Dunn needs to improve: AACSB: Reflective Thinking AICPA FN: Measurement Difficulty: Medium Hilton – Chapter […]

ch7 Key 1. The return–on–quality (ROQ) view of quality management assumes that there is a tradeoff between the costs and benefits of improving quality. AACSB: Reflective Thinking AICPA FN: Measurement Difficulty: Easy Hilton – Chapter 07 #1 Learning Objective: 1 […]

48. The Current Contribution Margin Ratio for Picture This (rounded) is AACSB: Analytic AICPA BB: Critical Thinking AICPA FN: Measurement Difficulty: Easy Hilton – Chapter 06 #48 Learning Objective: 2 49. If Picture This desires a return on sales of […]

ch6 Key 1. In most companies, all customers are equally profitable AICPA BB: Marketing Difficulty: Easy Hilton – Chapter 06 #1 Learning Objective: 1 2. The concept of activity–based costing is used to determine how serving particular customers causes activities […]

82. Listed below are sub activities (receiving products) related to the warehousing activities of Rocket Brothers, a local supermarket chain: The average wage of warehouse workers is $20 per hour. The work crew is 6 full time employees, each averaging […]

69. Assume that, due to excess demand, Chelsea is able to raise the selling price on Main Man Robot 10%. To achieve a return of 30% of total revenues, Chelsea’s monthly cost reduction in dollars will need to be: AACSB: […]

ch5 Key 1. Activity-Based Costing evaluates the costs and values of process activities to identify opportunities for improved efficiency. AACSB: Reflective Thinking AICPA FN: Measurement Difficulty: Medium Hilton – Chapter 05 #1 Learning Objective: 1 2. By itself, Activity–Based Costing […]

(a) See activity table on the following page. (b) See profitability tables following the activity cost matrix. (c) As shown by the unit-level profit report, both products provide a positive throughput. So dropping the MBI Board, which appears to be […]

81. Listed below are activities incurred by Richardson Manufacturing Company. The company manufactures a variety of products for sale to large department stores Required: Match each of the following resources and activities with the most likely activity level AACSB: Reflective […]

ch4 Key 1. Many traditional cost accounting systems do not trace indirect costs to products. Difficulty: Easy Hilton – Chapter 04 #1 Learning Objective: 1 2. In traditional cost systems, many complex products are overcosted and simple products are undercosted. […]

65. If the manufacturing overhead-variance is prorated between inventory and cost of goods sold, how much will be allocated to the ending inventory? (round to the nearest whole dollar) AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPA FN: Measurement Difficulty: […]

ch3 Key 1. Job costing or job-order costing treats each individual job as the unit of output and assigns, or allocates costs to each job as resources are used. Difficulty: Easy Hilton – Chapter 03 #1 Learning Objective: 1 2. […]

115. Classify each of the following costs as inventoriable (I) or period (P) and indicate whether the cost is a variable cost (V) or a fixed cost (F). AACSB: Reflective Thinking AICPA BB: Critical Thinking Difficulty: Medium Hilton – Chapter […]

Chapter 11 TRUE/FALSE 1. The organization of the file system on a server has no impact on network performance or security. 2. Deleting temporary files on a Windows system is not necessary because Windows doesn’t create temporary files. ANS: F […]

AACSB: Analytic AICPA BB: Critical Thinking AICPA FN: Measurement Difficulty: Hard Hilton – Chapter 02 #110 Learning Objective: 6 Learning Objective: 7 Learning Objective: 8 111. Consider the following cost and production information for Keenan Electronic Components, Inc. Additional information: […]

Chapter 10 TRUE/FALSE 1. Windows computers can make a shared drive look like a local drive by mapping. 2. In Linux, a network drive that is attached to the file system is called a mapped drive. ANS: F PTS: 1 […]

Chapter 09 TRUE/FALSE 1. A client OS coordinates network activities, authenticates users to access the network and enables workstations to access shared network resources. 2. LANs often connect WANs over a long distance such as between cities, states, or countries. […]

86. Which of the following is a conversion resource? Difficulty: Easy Hilton – Chapter 02 #86 Learning Objective: 3 87. Theoretically, overtime premium paid to a machine operator should be accounted for as: A. A period cost B. Part of […]

Chapter 08 TRUE/FALSE 1. Analog modems are used in preference to digital technologies, even where digital technologies are widely available. 2. A digital modem does not modulate/demodulate signals. ANS: T PTS: 1 REF: 408 3. Hardware flow control halts and […]

ch2 Key 1. Product costs are costs assigned to goods that were either purchased or manufactured for resale. Difficulty: Easy Hilton – Chapter 02 #1 Learning Objective: 1 2. Product costs become expenses in the period they are purchased. FALSE […]

Chapter 07 TRUE/FALSE 1. Another name for the IDE hard drive interface is ATA. 2. E-IDE is a serial interface technology whereas SATA is a parallel interface technology. ANS: F PTS: 1 REF: 361 3. CD-R is just a shorthand […]

61. The Cut Stop is a small but prosperous hair cutting salon. Kathy Harvey, the manager of the salon, has been asked by several clients if she will ever offer other “hair related” services (e.g., perm, dye, etc). After careful […]

Chapter 06 TRUE/FALSE 1. Device drivers perform the actual communication between physical devices and the operating system. 2. Device drivers are always built-in to the operating system and provided by the operating system vendor. ANS: F PTS: 1 REF: 307 […]

ch1 Key 1. A cost-management system is the set of cost–management techniques that function together to support the organization’s goals and activities. AACSB: Reflective Thinking AICPA BB: Industry Difficulty: Easy Hilton – Chapter 01 #1 Learning Objective: 1 2. Cost […]

Chapter 05 TRUE/FALSE 1. When you install a modern OS such as Windows 7 or Mac OS X, you always manually configure devices such as monitors and network cards. 2. The HAL.dll is a file used by some operating systems […]

Chapter 04 TRUE/FALSE 1. One of the tasks of a file system is to secure the information contained in user’s files. 2. Originally, FAT-16 supported comparatively short filenames, referred to as 6.3 filenames. ANS: F PTS: 1 REF: 171 3. […]

Chapter 03 TRUE/FALSE 1. Clock speed and CPU design are factors that determine how fast instructions are executed. 2. A RISC CPU performs more complex instructions and can work on general-purpose hardware. ANS: F PTS: 1 REF: 131 3. CPUs […]

Chapter 02 TRUE/FALSE 1. The first true 32-bit operating system developed by Microsoft was Windows 3.1. 2. Windows 95 used cooperative multitasking for 16-bit applications and preemptive multitasking for 32- bit applications. ANS: T PTS: 1 REF: 60 3. Windows […]

Chapter 01 TRUE/FALSE 1. The core of an operating system is referred to as the CPU. 2. I/O functions let programs communicate with the computer hardware. ANS: T PTS: 1 REF: 3 3. One function of the kernel is managing […]

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C. Presentation D. Network Item number 168 Chapter 12: Telecommunications, Network, and Internet Security Section: IPSec Item type: Multiple Choice Question: Which of the following statements about IPsec is true? Options: A. IPsec perform authentication but does not encrypt packets. […]

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A. Asymmetric encryption protocol B. Secret key encryption protocol C. Public key encryption protocol D. Shared key encryption protocol Item number 132 Chapter 11: Cryptography Section: The Secure/Multipurpose Internet Mail Extension Protocol Item type: Multiple Choice Question: S/MIME is used […]

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Item number 87 Chapter 8: Physical Security Control Section: Site Selection Item type: Multiple Choice Question: Which of the following are considerations when selecting a site? Options: A. Visibility B. Locale considerations C. Natural disasters D. Transportation E. A and […]

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D. The problems associated with this risk analysis are the unreliability and inaccuracy of the data. Item number 44 Chapter 4: Governance and Risk Management Section: Quantitative Risk Analysis Item type: Multiple Choice Question: How is annualized loss expectancy computed? […]