Archives: Quiz
978-0133427073 Test Bank Chapter 14 Part 1
Financial Markets and Institutions, 8e (Mishkin) Chapter 14 The Mortgage Markets 14.1 Multiple Choice 1) Which of the following are important ways in which mortgage markets differ from the stock and bond markets? A) The usual borrowers in the capital […]
978-0133427073 Test Bank Chapter 13 Part 2
31) (I) The market price of a security at a given time is the highest value any investor puts on the security. (II) Superior information about a security increases its value by reducing its risk. A) (I) is true, (II) […]
978-0133427073 Test Bank Chapter 13 Part 1
Financial Markets and Institutions, 8e (Mishkin) Chapter 13 The Stock Market 13.1 Multiple Choice 1) (I) A share of common stock in a firm represents an ownership interest in that firm. (II) A share of preferred stock is as much […]
978-0133427073 Test Bank Chapter 12 Part 2
38) A requirement in the bond indenture that the firm pay off a portion of the bond issue each year is called A) a sinking fund. B) a call provision. C) a restrictive covenant. D) a shelf registration. Answer: A […]
978-0133427073 Test Bank Chapter 12 Part 1
Financial Markets and Institutions, 8e (Mishkin) Chapter 12 The Bond Market 12.1 Multiple Choice 1) Compared to money market securities, capital market securities have A) more liquidity. B) longer maturities. C) lower yields. D) less risk. Answer: B Topic: Chapter […]
978-0133427073 Test Bank Chapter 11 Part 2
34) A negotiable certificate of deposit A) is a term security because it has a specified maturity date. B) is a bearer instrument, meaning whoever holds the certificate at maturity receives the principal and interest. C) can be bought and […]
978-0133427073 Test Bank Chapter 11 Part 1
Financial Markets and Institutions, 8e (Mishkin) Chapter 11 The Money Markets 11.1 Multiple Choice 1) Activity in money markets increased significantly in the late 1970s and early 1980s because of A) rising short-term interest rates. B) regulations that limited what […]
978-0133427073 Test Bank Chapter 10 Part 3
73) Which of the following statements is true regarding the Fed’s procedures for operating the discount window? A) The Fed’s operating procedures and paying interest on reserves contains the federal funds rate between the interest rate paid on reserves and […]
978-0133427073 Test Bank Chapter 10 Part 2
45) If the Fed’s strategy for conducting monetary policy is thought of as a game plan that proceeds in stages, then the game plan can be summarized as follows: A) The Fed selects its policy goals, then the intermediate targets […]
978-0133427073 Test Bank Chapter 10 Part 1
Financial Markets and Institutions, 8e (Mishkin) Chapter 10 Conduct of Monetary Policy: Tools, Goals, Strategy, and Tactics 10.1 Multiple Choice 1) Assets on the Fed’s balance sheet include A) government securities and currency in circulation. B) discount loans and reserves. […]
978-0133427073 Test Bank Chapter 1 Part 2
31) ________ was the stock market’s worst one-day drop in history in the 1980s. A) Black Friday B) Black Monday C) Blackout Day D) none of the above Answer: B Topic: Chapter 1.1 Why Study Financial Markets Question Status: Previous […]
978-0133427073 Test Bank Chapter 1 Part 1
Financial Markets and Institutions, 8e (Mishkin) Chapter 1 Why Study Financial Markets and Institutions? 1.1 Multiple Choice 1) Financial markets and institutions A) involve the movement of huge quantities of money. B) affect the profits of businesses. C) affect the […]
978-0078025273 Test Bank Chapter 9 Part 3
Chapter 09 – Cash Receipts, Cash Payments, and Banking Procedures AACSB: Analytic AICPA BB: Critical Thinking Bloom’s: Apply Learning Objective: 09-04 Record cash payments in a cash payments journal. Level: Hard Topic: Cash Payments 9-37 © 2012 by McGraw-Hill Education. […]
978-0078025273 Test Bank Chapter 9 Part 2
Chapter 09 – Cash Receipts, Cash Payments, and Banking Procedures 60. A check written by Bosley Co. for $168 was mistakenly recorded in the company records as $186. A. Option A. B. Option B. C. Option C. D. Option D. […]
978-0078025273 Test Bank Chapter 9 Part 1
Chapter 09 – Cash Receipts, Cash Payments, and Banking Procedures Chapter 09 Cash Receipts, Cash Payments, and Banking Procedures True / False Questions 1. Cash Short or Over is an expense account when it has a debit balance. TRUE AACSB: […]
978-0078025273 Test Bank Chapter 8 Part 3
Chapter 08 – Accounting for Purchases and Accounts Payable 76. At the end of February 2013 and before the purchases journal was posted, selected general ledger account balances for Volter Repair Services were as follows (each account had a normal […]
978-0078025273 Test Bank Chapter 8 Part 2
Chapter 08 – Accounting for Purchases and Accounts Payable 62. A creditor’s account in the accounts payable ledger has a balance of $10,560 as of April 1. After a transaction of $12,800 is posted from the purchases journal and a […]
978-0078025273 Test Bank Chapter 8 Part 1
Chapter 08 – Accounting for Purchases and Accounts Payable Chapter 08 Accounting for Purchases and Accounts Payable True / False Questions 1. The use of a purchases journal strengthens the audit trail. TRUE AACSB: Analytic AICPA FN: Reporting Bloom’s: Understand […]
978-0078025273 Test Bank Chapter 7 Part 3
Chapter 07 – Accounting for Sales and Accounts Receivable AACSB: Analytic AICPA BB: Critical Thinking Bloom’s: Apply Learning Objective: 07-01 Record credit sales in a sales journal. Learning Objective: 07-04 Record sales returns and allowances in the general journal. Level: […]
978-0078025273 Test Bank Chapter 7 Part 2
Chapter 07 – Accounting for Sales and Accounts Receivable 61. Hour Place Clock Shop sold a grandfather clock for $2,250 subject to a 9% sales tax. The entry in the sales journal will include a debit to Accounts Receivable for […]
978-0078025273 Test Bank Chapter 7 Part 1
Chapter 07 – Accounting for Sales and Accounts Receivable Chapter 07 Accounting for Sales and Accounts Receivable 1. A merchandising business sells goods that it produces. FALSE AACSB: Analytic AICPA BB: Critical Thinking Bloom’s: Remember Learning Objective: 07-01 Record credit […]
978-0078025273 Test Bank Chapter 6 Part 3
Chapter 06 – Closing Entries and the Postclosing Trial Balance 77. From the following list identify the accounts that will appear on the postclosing trial balance by placing an X before those accounts. ___ A. Accounts Payable ___ B. Accounts […]
978-0078025273 Test Bank Chapter 6 Part 2
Chapter 06 – Closing Entries and the Postclosing Trial Balance Short Answer Questions 66. The partial worksheet for the Jamison Company showed the following data on October 31, 2013. Record the closing entries on page 6 of a general journal. […]
978-0078025273 Test Bank Chapter 6 Part 1
Chapter 06 – Closing Entries and the Postclosing Trial Balance Chapter 06 Closing Entries and the Postclosing Trial Balance True / False Questions 1. One of the purposes of closing entries is to transfer net income or net loss for […]
978-0078025273 Test Bank Chapter 5 Part 3
Chapter 05 – Adjustments and the Worksheet 5-40 © 2012 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, […]
978-0078025273 Test Bank Chapter 5 Part 2
Chapter 05 – Adjustments and the Worksheet 65. The adjustments made on the worksheet A. are posted to the ledger but are not recorded in the journal. B. are recorded in the journal but are not posted to the ledger. […]
978-0078025273 Test Bank Chapter 5 Part 1
Chapter 05 – Adjustments and the Worksheet Chapter 05 Adjustments and the Worksheet True / False Questions 1. All changes in account balances are caused by transactions between the business and another business or individual. FALSE AACSB: Analytic AICPA BB: […]
978-0078025273 Test Bank Chapter 4 Part 3
Chapter 04 – The General Journal and the General Ledger 4-36 © 2012 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, […]
978-0078025273 Test Bank Chapter 4 Part 2
Chapter 04 – The General Journal and the General Ledger 64. Bertrand Inc. purchased some shop equipment for $4,500 in cash. By mistake, the journal entry debited the Office Equipment account rather than the Shop Equipment account. What correcting entry […]
978-0078025273 Test Bank Chapter 4 Part 1
Chapter 04 – The General Journal and the General Ledger Chapter 04 The General Journal and the General Ledger True / False Questions 1. When transactions are entered in a general journal, the asset accounts are listed first, followed by […]
978-0078025273 Test Bank Chapter 30 Part 3
Chapter 30 – Cost-Revenue Analysis for Decision Making 79. The following information relates to a one-time special order from a flood relief organization for 200 of its book bags at $8.50. Current manufacturing costs are as follows. Fixed manufacturing overhead […]
978-0078025273 Test Bank Chapter 30 Part 2
Chapter 30 – Cost-Revenue Analysis for Decision Making 61. Using direct costing, the value of ending inventory of finished goods is: A. $100,000 B. $120,000 C. $140,000 D. $220,000 AACSB: Analytic AICPA BB: Critical Thinking Bloom’s: Apply Learning Objective: 30-02 […]
978-0078025273 Test Bank Chapter 30 Part 1
Chapter 30 – Cost-Revenue Analysis for Decision Making Chapter 30 Cost-Revenue Analysis for Decision Making True / False Questions 1. Opportunity costs are earnings or potential benefits foregone because a certain course of action is taken. TRUE AACSB: Analytic AICPA […]
978-0078025273 Test Bank Chapter 3 Part 3
Chapter 03 – Analyzing Business Transactions Using T Accounts 3-37 © 2012 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, […]
978-0078025273 Test Bank Chapter 3 Part 2
Chapter 03 – Analyzing Business Transactions Using T Accounts 70. Which of the following accounts is not a permanent account? A. Cash B. Accounts Payable C. Salaries Expense D. Thomas Bernard, Capital AACSB: Analytic AICPA BB: Critical Thinking Bloom’s: Understand […]
978-0078025273 Test Bank Chapter 3 Part 1
Chapter 03 – Analyzing Business Transactions Using T Accounts Chapter 03 Analyzing Business Transactions Using T Accounts True / False Questions 1. When preparing the trial balance, the total debits should equal the total credits. TRUE AACSB: Analytic AICPA BB: […]
978-0078025273 Test Bank Chapter 29 Part 3
Chapter 29 – Controlling Manufacturing Costs: Standard Costs 80. Complete the flexible budget of manufacturing costs for Lansome Industries for September 2013. Overhead is based on direct labor hours. 29–37 Chapter 29 – Controlling Manufacturing Costs: Standard Costs 29–38 AACSB: […]
978-0078025273 Test Bank Chapter 29 Part 2
Chapter 29 – Controlling Manufacturing Costs: Standard Costs 63. One element that is NOT part of the standard cost is A. shipping. B. labor. C. materials. D. machine maintenance. AACSB: Analytic AICPA FN: Measurement Bloom’s: Remember Learning Objective: 29-05 Develop […]
978-0078025273 Test Bank Chapter 29 Part 1
Chapter 29 – Controlling Manufacturing Costs: Standard Costs Chapter 29 Controlling Manufacturing Costs: Standard Costs True / False Questions 1. If the standard cost for an item exceeds the actual cost, the variance is favorable. TRUE AACSB: Analytic AICPA FN: […]
978-0078025273 Test Bank Chapter 28 Part 3
Chapter 28 – Process Cost Accounting AACSB: Analytic AICPA BB: Critical Thinking Bloom’s: Apply Learning Objective: 28-05 Compute equivalent production and prepare a cost of production report with a beginning work in process inventory. Level: Medium Topic: Work in Process […]
978-0078025273 Test Bank Chapter 28 Part 2
Chapter 28 – Process Cost Accounting 53. During the month, 2,700 units of a product were completed and 800 units were 60% complete with respect to labor and still in process. The total equivalent units of production for labor for […]
978-0078025273 Test Bank Chapter 28 Part 1
Chapter 28 – Process Cost Accounting Chapter 28 Process Cost Accounting True / False Questions 1. In a process cost accounting system, the average unit cost of a product is determined by dividing the total manufacturing cost incurred by the […]
978-0078025273 Test Bank Chapter 27 Part 3
Chapter 27 – Job Order Cost Accounting 75. Morion Hat Manufacturing made the following charge purchases on February 4 of the current year. Felt $5,687; Ribbon $1,234; Straw $6,723; Dye (for the straw) $39; Thread $47; Various plastic fruits, flowers, […]
978-0078025273 Test Bank Chapter 27 Part 2
Chapter 27 – Job Order Cost Accounting 58. Wilson Enterprises applies overhead based on direct labor cost. The company estimates that their overhead for the year will be $240,000, and direct labor cost to be $300,000. Actual direct labor cost […]
978-0078025273 Test Bank Chapter 27 Part 1
Chapter 27 – Job Order Cost Accounting Chapter 27 Job Order Cost Accounting True / False Questions 1. There is no need to take a physical count of inventory periodically when the perpetual inventory system is used. FALSE AACSB: Analytic […]
978-0078025273 Test Bank Chapter 26 Part 3
Chapter 26 – Accounting for Manufacturing Activities 26–41 77. Define the term manufacturing overhead and give three examples of manufacturing overhead for a bakery. AACSB: Analytic AICPA BB: Critical Thinking Bloom’s: Apply Learning Objective: 26-02 Explain the basic components of […]
978-0078025273 Test Bank Chapter 26 Part 2
Chapter 26 – Accounting for Manufacturing Activities 62. The following information appears on the income statement of the Richer Company at the end of the year. Gross Profit on Sales was: A. $140,000. B. $160,000. C. $200,000. D. $220,000. Cost […]
978-0078025273 Test Bank Chapter 26 Part 1
Chapter 26 – Accounting for Manufacturing Activities Chapter 26 Accounting for Manufacturing Activities True / False Questions 1. Raw Materials Used is not an element of manufacturing overhead. TRUE AACSB: Analytic AICPA FN: Decision Making Bloom’s: Remember Learning Objective: 26-02 […]
978-0078025273 Test Bank Chapter 25 Part 3
Chapter 25 – Departmentalized Profit and Cost Centers 25–37 Chapter 25 – Departmentalized Profit and Cost Centers 25–38 AACSB: Analytic AICPA BB: Critical Thinking Bloom’s: Apply Learning Objective: 25-05 Prepare a departmental income statement showing the contribution margin and operating […]
978-0078025273 Test Bank Chapter 25 Part 2
Chapter 25 – Departmentalized Profit and Cost Centers 63. Semidirect and indirect expenses are treated the same for accounting purposes. At the end of the accounting period they are A. recorded by the department they relate to. B. allocated. C. […]