Archives: Quiz
Finance Chapter 7 Checks received in the mail should be immediately
FOR INSTRUCTOR USE ONLY CHAPTER 7 FRAUD, INTERNAL CONTROL, AND CASH SUMMARY OF QUESTIONS BY LEARNING OBJECTIVE AND BLOOM’S TAXONOMY Item LO BT Item LO BT Item LO BT Item LO BT Item LO BT True-False Statements 1. 1 K […]
Finance Chapter 7 when production costs are debited to work in
Achievement Test 7: Chapters 14-15 Name __________________________ Accounting, 5e Instructor _______________________ Section # _______ Date _________ Part I II III IV Total Points 30 20 22 28 100 Score PART I — MULTIPLE CHOICE (30 points) Instructions: Designate the best […]
Finance Chapter 6 Title to goods transfers when the goods are delivered
Reporting and Analyzing Inventory FOR INSTRUCTOR USE ONLY 6-75 *Ex. 222 Condensed income statements for Werly Corporation are shown below for two years. 2013 2014 Sales $75,000 $90,000 Cost of Goods Sold 45,000 54,000 Gross Profit $30,000 $36,000 Operating Expense […]
Finance Chapter 6 How do the average-cost values for ending inventory
Reporting and Analyzing Inventory FOR INSTRUCTOR USE ONLY 6-61 Solution 207 (Cont.) (c) There are 120 units in ending inventory. They are comprised of the first units purchased when LIFO is assumed. 3/1 100 @ $40 = $4,000 3/3 20 […]
Finance Chapter 6 Reporting which one of the following allows
Reporting and Analyzing Inventory 6-41 168. Redeker Company had the following records: 2014 2013 2012 Ending inventory $34,580 $32,650 $30,490 Cost of goods sold 182,000 163,500 174,200 What is Redeker’s average days in inventory for 2014? (rounded) a. 67.6 days […]
Finance Chapter 6 A company must comply with the method specified
Reporting and Analyzing Inventory 6-21 86. Which of the following terms best describes the assumption made in applying the four inventory methods? a. Goods flow b. Cost flow c. Asset flow d. Physical flow Ans: B, LO: 2, Bloom: K, […]
Finance Chapter 6 Explain The Basis Accounting For Inventories And
FOR INSTRUCTOR USE ONLY CHAPTER 6 REPORTING AND ANALYZING INVENTORY SUMMARY OF QUESTIONS BY LEARNING OBJECTIVE AND BLOOM’S TAXONOMY Item LO BT Item LO BT Item LO BT Item LO BT Item LO BT True-False Statements 1. 1 K 10. […]
Finance Chapter 6 collected amounts past due from customers
Achievement Test 6: Chapters 11-13 Name __________________________ Accounting Instructor _______________________ Kimmel, Weygandt, & Kieso Section # _______ Date _________ Part I II III IV V VI VII Total Points 36 6 6 10 12 10 20 100 Score PART I […]
Finance Chapter 5 April Paid The Amount Due Buehler Company
Test Bank for Accounting: Tools for Business Decision Making, Fifth Edition FOR INSTRUCTOR USE ONLY 5-58 Ex. 228 The adjusted trial balance of McCoy Company included the following selected accounts: Debit Credit Sales Revenue $645,000 Sales Returns and Allowances $ […]
Finance Chapter 5 Hayes For Full Credit The Goods Had
Merchandising Operations FOR INSTRUCTOR USE ONLY 5-41 Answers to Multiple Choice Questions 53. c 73. b 93. c 113. b 133. c 153. c 173. d 193. c 54. c 74. d 94. a 114. d 134. b 154. a […]
Finance Chapter 5 When goods are returned that relate to a prior
Merchandising Operations 5-21 118. The collection of an $900 account within the 2 percent discount period will result in a a. debit to Sales Discounts for $18. b. debit to Accounts Receivable for $882. c. credit to Cash for $882. […]
Finance Chapter 5 Operating expenses are subtracted from revenue
FOR INSTRUCTOR USE ONLY CHAPTER 5 MERCHANDISING OPERATIONS SUMMARY OF QUESTIONS BY LEARNING OBJECTIVE AND BLOOM’S TAXONOMY Item LO BT Item LO BT Item LO BT Item LO BT Item LO BT True-False Statements 1. 1 K 12. 1 K […]
Finance Chapter 5 to what amount will its book value at the end
Achievement Test 5: Chapters 9 and 10 Name __________________________ Accounting Instructor _______________________ Kimmel, Weygandt, & Kieso Section # _______ Date _________ Part I II III IV V V Total Points 26 6 28 9 16 15 100 Score PART I […]
Finance Chapter 4 Match The Items Below Entering The
Test Bank for Accounting: Tools for Business Decision Making, Fifth Edition FOR INSTRUCTOR USE ONLY 4-98 Ex. 278 The adjusted trial balance shown below is for Rich Company at the end of its fiscal year: RICH COMPANY Trial Balance March […]
Finance Chapter 4 The Unearned Ticket Revenue Represents Tickets Sold
Accrual Accounting Concepts FOR INSTRUCTOR USE ONLY 4-81 Solution 263 (5 min.) Ex. 264 Prepare adjusting entries for the following transactions. Omit explanations. 1. Depreciation on equipment is $1,340 for the accounting period. 2. Interest owed on a loan but […]
Finance Chapter 4 recast the above income statement on the accrual
Accrual Accounting Concepts FOR INSTRUCTOR USE ONLY 4-61 Solution 237 (5 min.) Be. 238 For each of the following oversights, state whether total assets will be understated (U), overstated (O), or no affect (NA). _____ 1. Failure to record revenue […]
Finance Chapter 4 An adjusting entry made to record accrued interest
Accrual Accounting Concepts 4-41 purchased supplies for $950 and consumed supplies of $700. If no adjusting entry is made for supplies: a. stockholders’ equity will be overstated by $700. b. expenses will be understated by $950. c. assets will be […]
Finance Chapter 4 Which of the following would be unethical
Accrual Accounting Concepts 4-21 89. Which of the following would be unethical? a. Recording accrued salaries and wages expense. b. Recording accrued interest revenue. c. Recording backdated revenue. d. Recording prepaid expense adjustments. Ans: C, LO 2, BT: K, Difficulty: […]
Finance Chapter 4 Describe The Required Steps The Accounting Cycle
FOR INSTRUCTOR USE ONLY CHAPTER 4 ACCRUAL ACCOUNTING CONCEPTS SUMMARY OF QUESTIONS BY LEARNING OBJECTIVE AND BLOOM’S TAXONOMY Item LO BT Item LO BT Item LO BT Item LO BT Item LO BT True-False Statements 1. 1 K 12. 3 […]
Finance Chapter 4 which of the following items is not considered
Achievement Test 4: Chapters 7 and 8 Name __________________________ Accounting Instructor _______________________ Kimmel, Weygandt, & Kieso Section # _______ Date _________ Part I II III IV V VI Total Points 30 12 18 11 20 9 100 Score PART I […]
Finance Chapter 3 1 Cash Asset Account Debit Increases Credit Decreases
The Accounting Information System 3-61 Ex. 242 For the accounts listed below, indicate if the normal balance of the account is a debit or credit. Normal Balance Accounts Debit or Credit 1. Service Revenue _________________ 2. Rent Expense _________________ 3. […]
Finance Chapter 3 Increases liabilities and decreases stockholders’
The Accounting Information System FOR INSTRUCTOR USE ONLY 3-41 Be. 222 For each of the following accounts indicate the effect of a debit or a credit on the account and the normal balance. Increase (+), Decrease (–). Debit _Credit_ Normal […]
Finance Chapter 3 When a company performs a service but has not yet
The Accounting Information System 3-21 120. For the basic accounting equation to stay in balance, each transaction recorded must a. affect two or less accounts. b. affect two or more accounts. c. always affect exactly two accounts. d. affect the […]
Finance Chapter 3 Analyze The Effect Business Transactions The Basic
FOR INSTRUCTOR USE ONLY CHAPTER 3 THE ACCOUNTING INFORMATION SYSTEM SUMMARY OF QUESTIONS BY LEARNING OBJECTIVE AND BLOOM’S TAXONOMY Item LO BT Item LO BT Item LO BT Item LO BT Item LO BT True-False Statements 1. 1 K 12. […]
Finance Chapter 3 with regard to accounting for a merchandising
Achievement Test 3: Chapters 5 and 6 Name __________________________ Accounting Instructor _______________________ Kimmel, Weygandt, and Kieso Section # _______ Date _________ Part I II III IV V Total Points 30 30 18 12 10 100 Score PART I — MULTIPLE […]
Finance Chapter 2 Nance is more liquid than Marin since
Test Bank for Accounting: Tools for Business Decision Making, Fifth Edition FOR INSTRUCTOR USE ONLY 2-60 Solution 220 (25 min.) Ex. 221 These items are taken from the financial statements of Drew Corporation for 2014. Retained earnings (beginning of year) […]
Finance Chapter 2 Consistency Be 212 Each The Following Statements
A Further Look at Financial Statements 2-41 183. Different companies using the same accounting principles is an application of a. consistency. b. materiality. c. full disclosure. d. comparability. Ans: D, LO: 7, Bloom: C, Difficulty: Easy, Min: 1, AACSB: None, […]
Finance Chapter 2 The Following Information Available For Bradshaw
A Further Look at Financial Statements 2-21 91. Use the following data to calculate the current ratio. Eddy Auto Supplies Balance Sheet December 31, 2014 Cash $ 84,000 Accounts payable $ 110,000 Accounts receivable 80,000 Salaries and wages payable 20,000 […]
Finance Chapter 2 They classify liabilities as either current
FOR INSTRUCTOR USE ONLY CHAPTER 2 A FURTHER LOOK AT FINANCIAL STATEMENTS SUMMARY OF QUESTIONS BY LEARNING OBJECTIVE AND BLOOM’S TAXONOMY Item LO BT Item LO BT Item LO BT Item LO BT Item LO BT True-False Statements 1. 1 […]
Finance Chapter 2 Prepare Trial Balance Which The Following
Achievement Test 2: Chapters 3 and 4 Name __________________________ Accounting Instructor _______________________ Kimmel, Weygandt, and Kieso Section # _______ Date _________ Part I II III IV V Total Points 33 24 24 10 9 100 Score PART I — MULTIPLE […]
Finance Chapter 1 Does The Corporation Need Acquire Additional Assets
Introduction to Financial Statements FOR INSTRUCTOR USE ONLY 1-55 Ex. 199 The summaries of data from the balance sheet, income statement, and retained earnings statement for two corporations, Bates Corporation and Wilson Enterprises, are presented below for 2014. Bates Corporation […]
Finance Chapter 1 viewing each situation as being independent
Introduction to Financial Statements FOR INSTRUCTOR USE ONLY 1-41 Be. 186 For the items listed below, fill in the appropriate code letter to indicate whether the item is an asset, liability, or stockholders’ equity item. Code Asset A Liability L […]
Finance Chapter 1 Why else would a corporation pay dividends
Introduction to Financial Statements 1-21 116. Which financial statement is prepared first? a. Balance sheet b. Income statement c. Retained earnings statement d. Statement of cash flows Ans: B, LO: 4, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA […]
Finance Chapter 1 Managers Who Use Accounting Information Plan Organize
FOR INSTRUCTOR USE ONLY CHAPTER 1 INTRODUCTION TO FINANCIAL STATEMENTS SUMMARY OF QUESTIONS BY LEARNING OBJECTIVE AND BLOOM’S TAXONOMY Item LO BT Item LO BT Item LO BT Item LO BT Item LO BT True-False Statements 1. 1 K 9. […]
Finance Chapter 1 enterprises incurred several costs related
Final Exam: Chapters 1-13 Name __________________________ Accounting Instructor _______________________ Kimmel, Weygandt, & Kieso Section # _______ Date _________ Part I II III IV V VI VII VIII Total Points 76 20 8 18 15 12 21 30 200 Score PART […]
Finance Chapter 1 The Standard Number Hours That Should Have
COMPREHENSIVE EXAMINATION G (Chapters 22 – 24) Approximate Problem Topic Points Minutes G – I Multiple Choice ……………………………………… 16 16 G – II Variance Analysis ………………………………….. 12 12 G – III Capital Budgeting ………………………………….. 16 16 G – IV Flexible […]
Finance Chapter 1 Hall adorn Inc Sells Single Product With Contribution
COMPREHENSIVE EXAMINATION F (Chapters 18 – 21) Approximate Problem Topic Points Minutes F – I Multiple Choice ……………………………………… 22 22 F – II Cost-Volume-Profit ………………………………… 24 16 F – III Budgeting …………………………………………….. 18 15 F – IV Contribution Margin ……………………………….. […]
Finance Chapter 1 Which One The Following Not Benefit Activity based
COMPREHENSIVE EXAMINATION E (Chapters 14 – 17) Approximate Problem Topic Points Minutes E – I Multiple Choice ……………………………………… 20 20 E – II Cost of Goods Manufactured and Sold …….. 20 15 E – III Job Order Cost Accounting …………………….. […]
Finance Chapter 1 What Does Inventory Turnover Measure The Number
COMPREHENSIVE EXAMINATION D (Chapters 12 – 13) Approximate Problem Topic Points Minutes D – I Multiple Choice ……………………………………… 24 20 D – II Statement of Cash Flows ………………………. 36 30 D – III Comparative Analysis …………………………….. 10 10 D – […]
Finance Chapter 1 Which The Following Transactions Affects The Retained
COMPREHENSIVE EXAMINATION C (Chapters 9 – 11) Approximate Problem Topic Points Minutes C – I Multiple Choice …………………………………….. 18 18 C – II Ratios …………………………………………………. 18 12 C – III Corporation Entries ………………………………. 20 15 C – IV Bonds and […]
Finance Chapter 1 Which One The Following Not Key Principle
COMPREHENSIVE EXAMINATION B (Chapters 6 – 8) Approximate Problem Topic Points Minutes B – I Multiple Choice ……………………………………… 20 17 B – II Ratios …………………………………………………. 12 10 B – III Bank Reconciliation ………………………………. 16 15 B – IV Periodic Inventories […]
Finance Chapter 1 Which One The Following Contra Account With
Comprehensive Examination A A-1 COMPREHENSIVE EXAMINATION A (Chapters 1 – 5) Approximate Problem Topic Points Minutes A – I Multiple Choice ……………………………………… 20 13 A – II Matching ……………………………………………… 12 8 A – III Adjusting Entries ………………………………….. 15 10 A […]
Finance Chapter 1 Achievement Test S And Name Accounting
Achievement Test 1: Chapters 1 and 2 Name __________________________ Accounting Instructor _______________________ Kimmel, Weygandt, and Kieso Section # _______ Date _________ Part I II III IV V VI Total Points 42 8 10 10 18 12 100 Score PART I […]
Management Chapter 16 The top three ideas in the
Answer: FALSE Diff: 2 Page Ref: 610 Objective: 16.1 Learn how some of the best leaders today make an impact on others Answer: TRUE Diff: 2 Page Ref: 611 Objective: 16.2 Understand ways in which management must change Answer: FALSE […]
Management Chapter 15 Eliza has recently taken over as CEO
Copyright © 2014 Pearson Education, Inc. 64) The ________ approach to corporate social responsibility complies with legal requirements in a minimal way. A) defensive B) obstructionist C) proactive D) accommodative Answer: A Diff: 2 Page Ref: 597 AACSB skills: Ethical […]
Management Chapter 15 Define Sustainability 34 Result Climate Change Food Production
Copyright © 2014 Pearson Education, Inc. Management: A Focus on Leaders, 2e (McKee) Chapter 15 Sustainability and Corporate Social Responsibility: Ensuring the Future 1) We are truly interconnected, and the actions of individuals, institutions, and businesses in any one part […]
Management Chapter 14 For the past ten years the company has manufactured its products
Copyright © 2014 Pearson Education, Inc. 57) Which of the following is a key disadvantage to doing business with Russia? A) weak rule of law B) poorly educated population C) expensive labor D) little technical expertise Answer: A Diff: 2 […]
Management Chapter 14 Understand How International
Copyright © 2014 Pearson Education, Inc. Management: A Focus on Leaders, 2e (McKee) Chapter 14 Globalization: Managing Effectively in a Global Economic Environment 1) Globalization includes the exchange of money, products, information, services, and expertise between people in different parts […]
Management Chapter 13 Explain Various Types Organizational Cultures
Copyright © 2014 Pearson Education, Inc. 61) The EEOC is responsible for dealing with problems that involve ________. A) education B) discrimination C) sexual harassment D) job performance Answer: B Diff: 2 Page Ref: 498 AACSB skills: Multicultural and diversity […]
Management Chapter 13 Espoused values for an organization
Copyright © 2014 Pearson Education, Inc. Management: A Focus on Leaders, 2e (McKee) Chapter 13 Culture: It’s Powerful 1) Few people in a culture have deeply held values and beliefs. Answer: FALSE Diff: 2 Page Ref: 470 AACSB skills: Ethical […]