Archives: Quiz
Accounting Chapter 13 2 Frogue Corporation uses a standard cost system. The following information was provided for the period that just ended
Name: Class: Date: chapter 13 Copyright Cengage Learning. Powered by Cognero. Page 20 Region II, anticipated sales 125,000 units 25,000 units The unit selling price for aluminum cans is $0.15 and for tin cans is $0.20. Budgeted production for tin […]
Management Chapter 7 1 The most appropriate match between type of product and type of process occurs as one moves away from the diagonal in the product-process matrix
Name: Class: Date: chapter 7 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. All processes and functional areas participate in the reengineering efforts of a firm. a. True b. False 2. […]
Accounting Chapter 13 1 Budgetary slack can be avoided if lower- and mid-level managers are requested to support all of their spending requirements with specific operational plans
Name: Class: Date: chapter 13 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. Financial reporting systems that are guided by the principle of exceptions concept focus attention on variances from standard […]
Management Chapter 6 1 The center-of-gravity method increases the weighted distance between the facility to be located and its supply and demand points
Name: Class: Date: chapter 6 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. The center-of-gravity method increases the weighted distance between the facility to be located and its supply and demand […]
Accounting Chapter 12 2 Management is considering the discontinuance of the manufacture and sale of Product G at the beginning of the current year
Name: Class: Date: chapter 12 Copyright Cengage Learning. Powered by Cognero. Page 14 d. $60,000 increase 83. Soap Company manufactures Soap X and Soap Y and can sell all it can make of either. Hours available to produce the products […]
Management Chapter 5 1 Customer contact is measured by the percentage of time the customer must be in the service-delivery system relative to the total time it takes to provide the service
Name: Class: Date: chapter 5 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. An Energy Star dishwasher results in increased release of carbon dioxide to the air. a. True b. False […]
Accounting Chapter 12 1 In using the product cost concept of applying the cost-plus approach to product pricing, selling expenses, administrative expenses, and profit are covered in the markup
Name: Class: Date: chapter 12 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. In deciding whether to accept business at a special price when the company is operating below full capacity, […]
Management Chapter 4 1 The fixed costs of WeBuy&Sell.com, an e-commerce website, make up about 90 percent of the total costs incurred by the company
Name: Class: Date: chapter 4 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. Low scalability implies that serving additional customers requires low incremental variable costs. a. True b. False 2. Scalability […]
Accounting Chapter 11 2 The following is a list of various costs of producing sweatshirts. Classify each cost as either a variable, fixed, or mixed cost for units produced and sold mixed cost for units produced and sold
Name: Class: Date: chapter 11 Copyright Cengage Learning. Powered by Cognero. Page 16 d. $100.00 104. Which of the following costs is an example of a fixed cost? a. Direct labor cost b. Insurance cost c. Commission paid d. Capital […]
Management Chapter 3 1 For firms that adopt innovation as a core component of their strategy, price, not product performance, is the major selling feature
Name: Class: Date: chapter 3 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. For firms that adopt innovation as a core component of their strategy, price, not product performance, is the […]
Accounting Chapter 11 1 Only a single line, which represents the difference between total sales revenues and total costs, is plotted on the cost-volume-profit graph volume-profit graph
Name: Class: Date: chapter 11 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. If sales total $2,000,000, fixed costs total $600,000, and variable costs are 60% of the sales, the contribution […]
Management Chapter 2 1 Actionable performance measures should be meaningful to a company’s management and should provide the basis for decisions at the strategic level in an organization
Name: Class: Date: chapter 2 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. Actionable measures are not bound by time. a. True b. False 2. Performance measures should support customer requirements. […]
Accounting Chapter 10 2 Indicate whether each of the following costs of a cabinet manufacturer would be classified as direct materials cost, direct labor cost, factory overhead cost
Name: Class: Date: chapter 10 Copyright Cengage Learning. Powered by Cognero. Page 13 94. Loise Inc., a manufacturing company, forecasts that total overhead for the current year will be $19,250,000, and total machine hours will be 350,000 hours. However, the […]
Management Chapter 1 1 The higher the customer participation in service processes, the more certainty a firm has with respect to service time and capacity
Name: Class: Date: chapter 1 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. A process invariably resides within a department or traditional management function. a. True b. False 2. Preproduction services […]
Accounting Chapter 10 1 If the cost of employee wages is not a significant portion of the total product cost, the wages are classified as factory overhead cost
Name: Class: Date: chapter 10 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. Direct labor cost is an example of a product cost. a. True b. False 2. If the cost […]
Accounting Chapter 9 2 The percentage analysis of increases and decreases in related items in comparative financial statements is called
Name: Class: Date: chapter 9 Copyright Cengage Learning. Powered by Cognero. Page 12 64. The debt ratio is computed as _____. a. net income divided by interest expense b. total liabilities divided by total assets c. total bonds payable divided […]
Accounting Chapter 9 1 Ratios and various other analytical measures are not a substitute for sound judgment, nor do they provide definitive guides for action guides for action
Name: Class: Date: chapter 9 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. Ratios and various other analytical measures are not a substitute for sound judgment, nor do they provide definitive […]
Accounting Chapter 8 2 The periodic interest to be paid on bonds is identified in the bond indenture and is expressed as a percentage of the face amount of the bond
Name: Class: Date: chapter 8 Copyright Cengage Learning. Powered by Cognero. Page 13 104. Most employers are levied a tax on payrolls for _____. a. sales tax b. medical insurance premiums c. federal unemployment compensation tax d. union dues 105. […]
Accounting Chapter 8 1 The declaration and issuance of a stock dividend does not affect the total amount of a corporation’s assets, liabilities, or stockholders’ equity.
Name: Class: Date: chapter 8 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. If prior to the last weekly payroll period of the calendar year, the cumulative earnings for an employee […]
Accounting Chapter 7 1 The total depreciation across the years of an asset’s life is the same under the double-declining-balance method or the straight-line method
Name: Class: Date: chapter 7 Copyright Cengage Learning. Powered by Cognero. Page 1 b. False Indicate whether the statement is true or false. 1. Physical depreciation occurs when changes in customer needs cause a fixed asset to no longer provide […]
Finance Chapter 15 3 Mike and Tristan, father and son, own property as tenants in common. Tristan write a valid will leaving his part of this property to his friend Joe
Chapter 15—Preserving Your Estate Cengage Learning Testing, Powered by Cognero Page 35 STATE STANDARDS: United States – AK – DISC: Financial Analysis and Cas – DISC: Financial Analysis and Cash Flows United States – KS – DISC: Investments KEYWORDS: Bloom’s: […]
Accounting Chapter 6 2 On the basis of the following data related to current assets for Mission Co. at December 20Y8, prepare a partial balance sheet in good form
Name: Class: Date: chapter 6 Copyright Cengage Learning. Powered by Cognero. Page 12 c. $675 d. $600 82. Jonas Company’s inventory has the following values: Cost $1,000 Estimated selling price 1,500 Selling expenses 600 Under the lower-of-cost-or-market method, Jonas Company’s […]
Finance Chapter 15 2 A trust that provides continuity and asset management and allows assets to bypass probate, but which provides no income or estate tax advantages
Chapter 15—Preserving Your Estate Cengage Learning Testing, Powered by Cognero Page 21 POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: PFIN.BILL.17.15-1 – LO: 15-1 NATIONAL STANDARDS: United States – BUSPROG: Reflective Thinking STATE STANDARDS: United States – AK – DISC: Financial Analysis […]
Accounting Chapter 6 1 During inflationary periods, the value of inventory that appears on the balance sheet using FIFO method will be more than its current replacement cost than its current replacement cost
Name: Class: Date: chapter 6 Copyright Cengage Learning. Powered by Cognero. Page 1 a. True Indicate whether the statement is true or false. 1. Merchandise Inventory is presented on the balance sheet in the current assets section. a. True b. […]
Accounting Chapter 5 1 In preparing a bank reconciliation, the amount indicated by a credit memorandum for a note receivable collected by the bank is added to the cash balance per books
Name: Class: Date: chapter 5 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. Money orders are considered cash. a. True b. False 2. A voucher is the notification accompanying the check […]
Finance Chapter 14 3 Sally and Patrick are married with 4 young children. Patrick stays at home with the kids while Sally works as CEO of a small manufacturing firm earning $105,000 annually
Chapter 14—Planning for Retirement Cengage Learning Testing, Powered by Cognero Page 38 140. ____ are exclusively for the self-employed person and his/her employees. a. Keogh plans b. SEPs c. 401(k) plans d. a and b e. a, b, and c […]
Accounting Chapter 5 2 When there are major changes in strategy, senior management, business structure, or operations, evaluations of controls are usually performed controls are usually performed
Name: Class: Date: chapter 5 Copyright Cengage Learning. Powered by Cognero. Page 12 (iii) Check of $100 returned because of not sufficient funds (NSF) What is the adjusted balance according to the bank statement? a. $4,400 b. $4,605 c. $4,500 […]
Finance Chapter 14 2 Jamie has worked for ABC Printing for 5 years. During this period ABC Printing has contributed $25,000 to her non-contributory retirement plan
Chapter 14—Planning for Retirement Cengage Learning Testing, Powered by Cognero Page 21 STATE STANDARDS: United States – KS – DISC: Investments United States – AK – DISC: Risk and return KEYWORDS: Bloom’s: Remembering 83. There is no penalty for early […]
Accounting Chapter 4 2 Determine the amount to be paid in full settlement of each of the invoices, assuming that credit for returns and allowances was received
Name: Class: Date: chapter 4 Copyright Cengage Learning. Powered by Cognero. Page 16 c. $4,161 d. $4,200 117. Merchandise is ordered on November 12; the merchandise is shipped by the seller and the invoice is prepared, dated, and mailed by […]
Accounting Chapter 4 1 When someone purchases merchandise and incurs the cost of transportation, these costs of purchasing inventory are added to the cost of the inventory
Name: Class: Date: chapter 4 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. Repayments of bonds would be shown as a cash outflow in the investing section of the statement of […]
Finance Chapter 13 3 The KLM Mutual Fund has a net asset value of $12.34 and an offer price of $13.34. Use this information to answer the following questions
Chapter 13—Investing in Mutual Funds Cengage Learning Testing, Powered by Cognero Page 34 STATE STANDARDS: United States – KS – DISC: Investments KEYWORDS: Bloom’s: Remembering 128. Advantages of exchange-traded funds over mutual funds include all of the following except a. […]
Accounting Chapter 3 2 Electroyo Corporation’s accumulated depreciation increased by $8,500, while patents decreased by $2,800 between consecutive balance sheet dates
Name: Class: Date: chapter 3 Copyright Cengage Learning. Powered by Cognero. Page 13 92. The updating of accrual accounting records before preparing financial statements is referred to as the _____. a. consolidation process b. full disclosure process c. adjustment process […]
Finance Chapter 13 2 A behavioral bias in mutual fund investing where investors view recent performance as overly indicative of a fund’s future performance is known as
Chapter 13—Investing in Mutual Funds Cengage Learning Testing, Powered by Cognero Page 21 c. become owners of a widely diversified portfolio of securities. d. deduct unrealized losses from their taxes. e. do all of these. ANSWER: c POINTS: 1 DIFFICULTY: […]
Accounting Chapter 3 1 The process that begins with the analysis of transactions and ends with preparing the accounting records for the next accounting period is called the accounting cycle
Name: Class: Date: chapter 3 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. The matching concept requires expenses to be recorded in the same period that the related revenue is recorded. […]
Accounting Chapter 2 2 A financial accounting system is designed to produce four financial statements. The income statement, statement of stockholders’ equity stockholders’ equity
Name: Class: Date: chapter 2 Copyright Cengage Learning. Powered by Cognero. Page 12 b. $60,000 c. $70,000 d. $10,000 82. For EFG Co., the transaction “purchase of store equipment with a note payable” would _____. a. increase total assets b. […]
Finance Chapter 12 3 Calculate the approximate yield on the common stock of Bowl Game that Matty Smelt has owned for 4 years. She bought it for $10 per share and sold it for $25
Chapter 12—Investing in Stocks and Bonds Cengage Learning Testing, Powered by Cognero Page 35 d. sinking funds are common. e. all of the above except c. ANSWER: e POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: PFIN.BILL.17.12-5 – LO: 12-5 NATIONAL STANDARDS: […]
Accounting Chapter 2 1 The integrated financial statement approach has built-in controls to ensure that all transactions are correctly analyzed, recorded, and summarized recorded, and summarized
Name: Class: Date: chapter 2 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. The integrated financial statement approach has built-in controls to ensure that all transactions are correctly analyzed, recorded, and […]
Finance Chapter 12 2 Stocks of companies that have experienced—and are expected to continue experiencing—higher rates of growth in operations and earnings are called operations and earnings are called
Chapter 12—Investing in Stocks and Bonds Cengage Learning Testing, Powered by Cognero Page 21 82. Risk and return are ____ related. a. inversely b. directly c. slightly d. oppositely ANSWER: b POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: PFIN.BILL.17.12-1 – LO: […]
Accounting Chapter 1 2 Indicate whether each of the following activities would be reported on the statement of cash flows as an operating activity
Name: Class: Date: chapter 1 Copyright Cengage Learning. Powered by Cognero. Page 13 88. Review Coca-Cola’s financial statements and answer the following questions: (1) What is Coke’s percent of current assets to total assets on its December 31, 2018 balance […]
Finance Chapter 12 1 Event risk occurs when something substantial happens to a company that has an immediate impact on its financial condition
Chapter 12—Investing in Stocks and Bonds Cengage Learning Testing, Powered by Cognero Page 1 1. Market risk considers the possibility that the firm may fail. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: PFIN.BILL.17.12-1 – LO: […]
Accounting Chapter 1 1 John Deere is a leading manufacturer of agricultural machinery in the world, producing products that serve unique market needs
Name: Class: Date: chapter 1 Copyright Cengage Learning. Powered by Cognero. Page 1 Indicate whether the statement is true or false. 1. Companies using a low-cost emphasis provide products and services that compete on features other than price. a. True […]
Finance Chapter 11 3 If Monte has no money to set aside now but wants to save at the end of each month for this goal, how much would he need to add to the account each month
Chapter 11—Investment Planning Cengage Learning Testing, Powered by Cognero Page 32 118. The owner of a bond would expect to receive [steady | variable] annual income. ANSWER: a POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: PFIN.BILL.17.11-1 – LO: 11-1 NATIONAL STANDARDS: […]
Finance Chapter 11 2 Assume that the price of ABC common stock fell in a short period of time from $105 to $84. Which of the following investors probably made the most money
Chapter 11—Investment Planning Cengage Learning Testing, Powered by Cognero Page 21 STATE STANDARDS: United States – KS – DISC: Investments United States – AK – DISC: Investments KEYWORDS: Bloom’s: Remembering 80. If a company’s common stock is traded on an […]
Finance Chapter 10 3 Bill was the at-fault party when you and he collided. Your insurance company has paid for the damages to your car. Now, it intends to recover this money from Bill Now, it intends to recover this money from Bill
Chapter 10—Protecting Your Property Cengage Learning Testing, Powered by Cognero Page 35 STATE STANDARDS: United States – AK – DISC: Risk and return United States – KS – DISC: Risk and Return KEYWORDS: Bloom’s: Remembering 125. Auto insurance premiums are […]
Finance Chapter 10 2 Tom visits George at his ranch. Although a novice on horseback, Tom decides to join George on a morning ride. George recommends that Tom ride an unbroken stallion named Satan
Chapter 10—Protecting Your Property Cengage Learning Testing, Powered by Cognero Page 21 LEARNING OBJECTIVES: PFIN.BILL.17.10-1 – LO: 10-1 NATIONAL STANDARDS: United States – BUSPROG: Analytic skills – BUSPROG: Analytical skills STATE STANDARDS: United States – AK – DISC: Risk and […]
Finance Chapter 10 1 Property insurance is meant to protect property owners from two basic types of exposures, physical loss of property and loss through depreciation
Chapter 10—Protecting Your Property Cengage Learning Testing, Powered by Cognero Page 1 1. Property insurance is meant to protect property owners from two basic types of exposures, physical loss of property and loss through depreciation. a. True b. False ANSWER: […]
Finance Chapter 9 2 An elimination period in disability income insurance is most closely analogous to which of the following cost-sharing provisions in health insurance
Chapter 9—Insuring Your Health Cengage Learning Testing, Powered by Cognero Page 21 NATIONAL STANDARDS: United States – BUSPROG: Reflective Thinking STATE STANDARDS: United States – AK – DISC: Risk and return United States – KS – DISC: Risk and Return […]
Finance Chapter 8 2 Rodney and Toni are a young couple with two small children. They are doing well financially but their life insurance needs are high and their budget is tight
Chapter 8—Insuring Your Life Cengage Learning Testing, Powered by Cognero Page 21 KEYWORDS: Bloom’s: Remembering 79. In determining available resources that would be available after death, you would generally not consider a. social security benefits. b. earning potential of surviving […]
Finance Chapter 7 3 A finance company uses the discount method of calculating interest. The loan principal is $5,000, the interest rate is 10%, and repayment is expected in two years
Chapter 7—Using Consumer Loans Cengage Learning Testing, Powered by Cognero Page 32 POINTS: 1 DIFFICULTY: Challenging LEARNING OBJECTIVES: PFIN.BILL.17.7-1 – LO: 7-1 NATIONAL STANDARDS: United States – BUSPROG: Analytic skills – BUSPROG: Analytical skills STATE STANDARDS: United States – KS […]
Finance Chapter 7 2 Sometimes it may be better to use savings rather than credit to make a purchase. This would be recommended when. Home equity loans are similar to other installment loans except
Chapter 7—Using Consumer Loans Cengage Learning Testing, Powered by Cognero Page 21 75. Regarding student loans, which of the following is true? a. They are available only for undergraduate students. b. Parents (or legal guardians) must cosign. c. There is […]