Bonus qs exam 2 - 7 The number of companies reporting a...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
1. The _________ reflects a company’s ability to charge premium prices and produce goods and services at a low cost? Gross Profit Percentage 2. According to the text, higher prices must often be sustained with higher _____ and ____ costs which can eat up any increase in gross margin R&D; Advertising 3. Which of the following is not one of the roles accounting plays in the inventory management process? Provide information that assists in maximizing the costs of carrying inventory 4. Factory manufacturing costs that are not raw material or direct labor costs are _____ costs? Factory Overhead 5. For an inventory with increasing costs, _____ is used on the Tax Return because it normally results in lower taxes. LIFO 6. If LIFO is used on the Income Tax Return, it must be also used to calculate inventory and Cost of Goods Sold for the financial statements. The Aforementioned is referred to as the _____. LIFO Conformity Rule
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 7. The number of companies reporting a _______ intangible asset jumped by nearly 55% between 2001-2002? Technology 8. A lower or declining fixed asset turnover may indicate that a firm is ________. Expanding 9. The accumulated depreciation balance for a given asset should never exceed? Cost- Slavage 10. At the end of an asset’s useful life, the accumulated depreciation balance for a given asset will be? Cost-Salvage 11. An assets depreciable base is equal to? Cost-Salvage 12. Under the DDB method, the total amount of depreciation that can be expensed over the life of the asset is equal to? Cost-Salvage 13. Under the SL (Straight Line) method, the total amount of depreciation that can be expensed over the life of the asset is equal to? Cost-Salvage 14. Under the SYD method, the total amount of depreciation that can be expensed over the life of the asset is equal to? Cost-Salvage...
View Full Document

This note was uploaded on 04/13/2008 for the course ACCY 202 taught by Professor Finnegan during the Spring '08 term at University of Illinois at Urbana–Champaign.

Page1 / 2

Bonus qs exam 2 - 7 The number of companies reporting a...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online