Archives: Quiz
Accounting Chapter 7 The Entry that Would Made Record The Dishonor
57. The general ledger account for Accounts Receivable shows a debit balance of $50,000. Allowance for Uncollectible Accounts has a credit balance of $3,000. Net sales for the year were $500,000. In the past, 3 percent of sales have proved […]
Investments & Securities Chapter 6 what percentages of your money must be invested
Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Difficulty: Intermediate Topic: Portfolio Risk Allocation 29. An investor invests 30% of his wealth in a risky asset with an […]
Accounting Chapter 3 December 31 2014 December 31 2013 Prepaid
d 21. Purpose of an accounting system. d 22. Definition of posting. d 23. Purpose of an accounting system. d 24. Book of original entry. d 25. Purpose of trial balance. d 26. Identification of a real account. b 27. […]
Accounting Chapter 7 The Fee Will Higher Than The Factoring
Chapter 07 – Cash and Receivables TRUE/FALSE 1. Under discounting, a company sells its receivables in batches at a discount. 2. Purchasing receivables with recourse is riskier than purchasing them without recourse. ANS: F PTS: 1 DIF: Easy OBJ: 1 […]
Investments & Securities Chapter 6 Which of the following statements regarding risk
Chapter 06 Capital Allocation to Risky Assets Answer Key Multiple Choice Questions 1. Which of the following statements regarding risk-averse investors is true? 6-35 Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written […]
Accounting Chapter 6 An inventory management system in which goods
14. How does the perpetual inventory system differ from the periodic inventory system in the determination of cost of goods sold? ANS: Under the perpetual system, cost of goods sold is accumulated as sales are made. Under the periodic system, […]
Accounting Chapter 2 The Accounting Principal Expense Recognition Best Demonstrated
c 21. GAAP defined. d 22. Purpose of conceptual framework. c 23. Conceptual framework. d 24. Conceptual framework purpose. d S25. Conceptual framework benefits. d 26. Objectives of financial reporting. a 27. Decision usefulness. d 28. General purpose of financial […]
Investments & Securities Chapter 5 value at risk and lower partial standard deviation
Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 59. You have been given this probability distribution for the holding-period return for GM stock: What is the expected variance […]
Accounting Chapter 6 A retail company has goods available for sale
44. Use this information to answer the following question. July 1 Inventory 15 units @ $8.00 8 Purchase 60 units @ $8.80 17 Purchase 30 units @ $8.40 25 Purchase 45 units @ $9.60 Total sales 100 units A periodic […]
Accounting Chapter 1 Are Fully Remunerated Serve Full Time
a 21. Financial accounting. d 22. Users of financial reports. d 23. Identify the major financial statements. a 24. Financial reporting entity. d 25. Differences between financial and managerial accounting. b 26. Financial reporting communication. b 27. Managerial accounting. a […]
Investments & Securities Chapter 5 You Have Been Given This Probability
Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Topic: Risk 32. You have been given this probability distribution for the holding-period return for Cheese, Inc. stock: Assuming that […]
Accounting Chapter 6 The higher the value assigned to ending inventory
Chapter 06 – Inventories TRUE/FALSE 1. Supply-chain management works well in a just–in-time operating environment. 2. The higher the value assigned to ending inventory, the lower the gross margin. ANS: F PTS: 1 DIF: Easy OBJ: 1 NAT: AACSB Analytic […]
Accounting Exam F The Following Calculations Present Depreciation Both Bases
COMPREHENSIVE EXAMINATION F PART 6 (Chapters 22-24) Approximate Problem Topic Time F-I Multiple Choice Questions. 25 min. F-II Statement of Cash Flows. 25 min. F-III Accounting Changes, Error Corrections, and Prior Period Adjustments. 30 min. F-IV * Analysis of Financial […]
Investments & Securities Chapter 5 the nominal rate of interest would be approximately
Chapter 05 Risk, Return, and the Historical Record Answer Key Multiple Choice Questions 1. A. 15.5%. B. 10.0%. C. 5.0%. D. 4.8%. E. 15.0%. r = (1 + R )/(1 + I ) -1; 1.10%/1.05% – 1 = 4.8%. AACSB: […]
Accounting Chapter 5 Prepare journal entries without explanations for
6. Scuilli Corporation purchased $5,000 worth of merchandise, terms n/30, from the Zupcic Corporation on June 4. The cost of the merchandise to Zupcic was $3,600. On June 10, Scuilli returned $700 worth of goods to Zupcic for full credit. […]
Accounting Exam E Pinkley Company For Machinery Which Was Carried
COMPREHENSIVE EXAMINATION E PART 5 (Chapters 18-21) Approximate Problem Topic Time E-I Long-Term Contracts. 15 min. E-II Installment Sales Method. 20 min. E-III Deferred Income Taxes. 25 min. E-IV Pensions. 15 min. E-V Leases. 25 min. 100 min. Test Bank […]
Investments & Securities Chapter 4 Differences Between Hedge Funds And Mutual
Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 51. Differences between hedge funds and mutual funds are that A. hedge funds are only subject to minimal SEC regulation. […]
Accounting Chapter 5 Compute the dollar amount of the items indicated
7. Given the following information, prepare in good form the cost of goods sold section of an income statement for 2013. Freight-In $ 16,000 Merchandise Inventory, December 31, 2012 60,000 Merchandise Inventory, December 31, 2013 64,000 Purchases 152,000 Purchases Returns […]
Accounting Exam D January 2014 Was Instructions Prepare Necessary
COMPREHENSIVE EXAMINATION D PART 4 (Chapters 15-17) Approximate Problem Topic Time D-I Treasury Stock. 20 min. D-II *Cash Dividends. 10 min. D-III Stock Dividends and Stock Splits. 10 min. D-IV Earnings Per Share Concepts. 10 min. D-V Earnings Per Share […]
Investments & Securities Chapter 4 how many shares must have been held in the fund
Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 32. A. 5.43% B. 10.24% C. 7.19% D. 12.44% E. 9.18% R = ($40 – 42 + 2 + 4.3)/$42 […]
Accounting Chapter 5 The amount of goods available for sale during
a. decrease to Sales. b. increase to Sales. c. decrease to Sales Returns and Allowances. d. increase to Sales Returns and Allowances. 36. Under the perpetual inventory system, the entry to record a purchase return would include a credit to […]
Accounting Exam C Hanson Corporation Sold Its 8 10 year
COMPREHENSIVE EXAMINATION C PART 3 (Chapters 10–14) Problem C-I — Multiple Choice — Tangible and Intangible Assets. Choose the best answer for each of the following questions and enter the identifying letter in the space provided. ____ 1. When the […]
Investments & Securities Chapter 4 Which The Following Functions Investment Companies Perform
Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Chapter 04 Mutual Funds and Other Investment Companies Answer Key Multiple Choice Questions 1. A. The funds redeem shares at […]
Accounting Chapter 5 Following is a classification scheme for
Chapter 05 – The Operating Cycle and Merchandising Operations TRUE/FALSE 1. Businesses can be classified as service companies, wholesalers, or retailers. 2. Profitability means having enough cash on hand to pay bills when they become due. ANS: F PTS: 1 […]
Accounting Exam B December 30 The Invoice Shows That Merchandise
COMPREHENSIVE EXAMINATION B PART 2 (Chapters 7–9) Problem B-I — Multiple Choice — Cash and Receivables. Choose the best answer for each of the following questions and enter the identifying letter in the space provided. ____ 1. When should the […]
Investments & Securities Chapter 3 requires periodic disclosure of relevant financial
Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 55. A. 20.47% B. 25.63% C. 57.14% D. 77.23% Profit on stock = ($35 – $25)(1,000) = $10,000; initial investment […]
Accounting Chapter 4 Which of the following is expressed in terms
Current assets Current liabilities Investments Long-term liabilities Property, plant, and equipment Stockholders’ equity Intangible assets Not on balance sheet For each account name below, write the name of the category above to which it belongs. a. Accumulated Depreciation b. Revenues […]
Accounting Exam A Common Stock 10 Par 16 Inventory
COMPREHENSIVE EXAMINATION A PART 1 (Chapters 1-6) Problem A-I — Multiple Choice. Choose the best answer for each of the following questions and enter the identifying letter in the space provided. ____ 1. How does failure to record accrued revenue […]
Investments & Securities Chapter 3 You Want Purchase Xon Stock 60
Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Difficulty: Basic 36. You want to purchase XON stock at $60 from your broker using as little of your own […]
Accounting Chapter 4 Only investors have an interest in a company’s
55. Use this information to answer the following question. Ramsey Company Income Statement For the Year Ended December 31, 2013 Revenues Net sales $200,000 Dividend income 17,500 Total revenues $217,500 Costs and expenses Costs of goods sold $ 58,000 Selling […]
Investments & Securities Chapter 3 The Trading Stock That Was Previously Issued
Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Chapter 03 How Securities Are Traded Key Multiple Choice Questions 1. The trading of stock that was previously issued takes […]
Accounting Chapter 4 Profitability means having enough cash on hand to pay
Chapter 04 – Financial Reporting and Analysis TRUE/FALSE 1. Only investors have an interest in a company’s ability to generate favorable cash flows. 2. Investors and creditors use financial statements to evaluate a company’s ability to pay dividends and interest. […]
Investments & Securities Chapter 2 The Index Represents The Performance
Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Difficulty: Basic Topic: Market Indexes 61. The ____ index represents the performance of the Japanese stock market. A. DAX B. […]
Accounting Supplement F Summary Wages Expense Rent Expense Supplies
Account Name Trial Balance Adjustments Adjusted Income Statement Balance Sheet Trial Balance Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 120 Accounts Receivable 80 Prepaid Insurance 48 Supplies 40 Equipment 160 Accumulated Depreciation–Equipment 24 Accounts Payable 48 […]
Investments & Securities Chapter 2 the quoted bid price in the wall street journal
Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Topic: Market Indexes 30. If a Treasury note has a bid price of $995, the quoted bid price in the […]
Accounting Supplement F When the Income Statement columns of the work
Chapter 03 – Supplement – Closing Entries and the Work Sheet TRUE/FALSE 1. The first step to preparing closing journal entries is to close the credit balance on the income statement to the Retained Earnings account. 2. The final step […]
Investments & Securities Chapter 2 Which of the following is not a characteristic
Chapter 02 Asset Classes and Financial Instruments Answer Key Multiple Choice Questions 1. Which of the following is not a characteristic of a money market instrument? 2-33 Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without […]
Accounting Chapter 3 Payroll For The Five day Workweek Paid Friday
8. Prepare year-end adjusting entries for each of the following situations. a. The Office Supplies account showed a beginning debit balance of $600 and purchases of $1,000. The ending debit balance was $400. b. Depreciation on buildings is estimated to […]
Investments & Securities Chapter 1 financial intermediaries exist because small investors
Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 30. The Sarbanes-Oxley Act A. requires corporations to have more independent directors. B. requires the firm’s CFO to personally vouch […]
Accounting Chapter 3 What are the three things that must be done
KEY: Cash flow and current assets MSC: ACBSP-APC-09-Financial Statements 128. Unearned Revenue was $600 at the end of February and $750 at the end of March. Service Revenue was $4,200 for the month of March. How much cash was received […]
Investments & Securities Chapter 1 The material wealth of a society is a function
Chapter 01 The Investment Environment Answer Key Multiple Choice Questions 1. The material wealth of a society is a function of 1-22 Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of […]
Accounting Chapter 3 Use this information pertaining to the Essex
Cash $ 400 Accounts Receivable 1,000 Prepaid Insurance 100 Supplies 300 Office Equipment 800 Accumulated Depreciation–Office Equipment $ 400 Accounts Payable 600 Common Stock 1,200 Service Revenue Earned 1,000 Salaries Expense 200 Rent Expense 400 ______ $3,200 $3,200 If the […]
Accounting Chapter 3 Accounting periods of greater than a year are
Chapter 03 – Measuring Business Income TRUE/FALSE 1. Accounting periods of greater than a year are called interim periods. 2. If a company is not expected to survive, it is considered a going concern. ANS: F PTS: 1 DIF: Easy […]
Accounting Chapter 2 Why is the Dividends account increased by a debit
PROBLEM 1. Explain why the dollar amount of total stockholders’ equity probably will not equal the dollar amount that would remain if all the assets were sold and all the liabilities were then settled. ANS: The valuation of assets on […]
Accounting Chapter 2 Which of the following errors will not cause the debit
62. Which of the following errors will not cause the debit and credit columns of the trial balance to be unequal? a. A debit entry was recorded in the wrong account. b. A debit was entered in an account as […]
Accounting Chapter 2 Purchase requisitions are recognized in the accounting
Chapter 02 – Analyzing Business Transactions TRUE/FALSE 1. When a company receives a product previously ordered, a recordable transaction has occurred. 2. When a business pays a new employee for the first time, a recordable transaction has occurred. ANS: T […]
Accounting Chapter 1 Palm Textile Corporation had the following balance sheet
c. decrease by $16,000. d. increase by $42,000. 52. Palm Textile Corporation had the following balance sheet accounts and balances: Accounts Payable $12,000 Common Stock ? Accounts Receivable 2,000 Equipment $14,000 Building ? Land 14,000 Cash 6,000 Retained Earnings 4,000 […]
Management Chapter 15 Advances Artificial Intelligence Can
Answer: C Page Ref: 575 Answer: D Page Ref: 576 Answer: C Page Ref: 579 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 1 Answer: A Page Ref: 581 Managing Information Technology, 7e (Brown) Chapter 15 Social, Ethical, […]
Accounting Chapter 1 A major function of management is to provide
Chapter 01 – Uses of Accounting Information and the Financial Statements TRUE/FALSE 1. The processing stage of accounting is accomplished by the recording of data. 2. Two major goals of business are to achieve profitability and to achieve liquidity. ANS: […]
Management Chapter 14 Which The Following Not
Answer: C Page Ref: 564 Answer: C Page Ref: 562 Answer: D Page Ref: 561 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall 1 Answer: A Page Ref: 571 Managing Information Technology, 7e (Brown) Chapter 14 Information Security […]