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Unformatted text preview: ‘SL Graded Emma x‘ n 7 x 1 (- 7‘ e [I httpszocdlestraighteriins-.ccm/mod/quiz/review.php?altempt=1052644 if. C - f E 555 Apps E mpg; [:3 seeds E3 random [:1 Wanl Q alluring". andtwuk E ArnamnSmile [:3 keland E: Szhmi my'wmcrm: Hpulucwl'l'i mph. r. wranmacmnng—Hcmonnrrg ulaued'mnl « A QUIZ NAVIGATION started on Tuesday, August 16, 2016, B258 PM I state Finished EiEiEiEiEiEi "El completed on Tuesday, August 16.2016, 9:37 PM BEE-IE Time taken 39min5315ec5 Egg-El and: 15mm autorlsooo (1am) SHOW one page at a lime Question For product cosls associated wilh a panicular produd to be expensed on the income slalemenl: Finish review 1 Select one: Correct a. The product must he transferred to Finished Goods Inventory. 6 on pants out M6 an in. The product must still be in Goods In Process Inventory. ‘7 Flag 0 c. The product must he sold. 4‘ Queelim d. The product may he in any of the manufacturer‘s inventory accounts. e. The company must expect to sell the productdunng the next twelve months. The correct answer is: The product must be sold. Question Costs classified by conirollabilily are userulror: Select one: Correct a. The balance sheet. 6 on prints nut I. fiomded Exam #2 x‘ n 7 X (- *3 e [- https:,r'/mDodlestraighteriinecom/rnod/quiz/review.php?altempt=1052644 {If C . Q E Apps E mpg; E] seeds E3 random :1 Wanl ®4bedmum andtwuk QAmamnSmile [:3 keland E: Szhmi QUeSiiOIT Costs classified by conirollabilily are uselullor: Select one: I Surreal a. The balance sheet. 6.00 points out ”“0 h. The Income statement. V Flag c. Management reports. queetil'm d. EValuation reports. . e. Both cano D. J The correct answer is: Both C and D. Quesiion Ratios, like other analytical tools, are only nislurically orienled Select one: Gmecl Tme 6.0a prints out “M 0 False «I ‘7 Flag question The correcl answer is ‘False'. ‘SL Graded Exam¢12 x‘ n 7 x (- 7‘ e IIhttps:,t',"mLmdlestrai'ghtertins-.ccrm'mod/quiztfreviei/«i.ptrp?tat‘tempt=1052644 if. C - f 555 Apps E mpg; [:3 seeds E3 random [:1 Wanl Q 4bEdmum andtwuk E AmamnSmite [:3 iceland E: Szhml 1 Question When using the indirect method to calculate and report net cash provided or used by operating activities which oflhe lollowmg 4 is subtracted from net income? Correct Select one: “Mam m .. a. Decrease in income taxes payable. .1 I arena b. Depreciation expense. V Fiag quest”. c. Amortization of Intangible assets. d. Bad debts expense. e. Decrease in merchandise inventory. The correct answer is: Decrease in income taxes payable. Question Produc1 costs an be classide as one of three types:diret.1 materiaLs, direct labor, or overhead Select one: omen . True J 6 ml pains but me on False ‘7 Fiat; queetlnn The correct answer is ‘TIUE‘. I. fiGraded Exam #2 x‘ n 7 X (- *3 e [- httpsu'r'mDcdlestrai'ghtertine.ccm/m0d/quiz/review.php?at‘tempt=T052644 {If C . Q E Apps E mpg; E] seeds E3 random Ci Wanl 94mm". andtwuk QAmamnSmiie [:3 iceland E: Szhml Question Which oflhe lollowmg is never included in direct materials costs? Select one: Correct a. Invoice costs ofdirect materials. 6 on pants nut . . n16 DD .. b. Outgoing delivery charges. 4 V my 1:. Materials stomge costs. quesfinn d. Materials handling costs. e. All of these are direct material costs. The correct answer is: Outgoing deiivery charges. Question Cash flow amounts and their liming should be considered when planning and analyzing operating activities. Select one: man . True J 6 on pains nut M6 on _ False ‘7 Fiag questmn - i i The correct answer E5 True. Question The use. ntdem ls snm . ripen as financial leveraae her debt can have the effect of inc sina the. return an ' 1.“ 'fi Graded Exam #2 x ‘ fl 7 x (- 7‘ e I " https://moodlestraighteriinecom/mod/quiz/review.php?at‘tempt=1052644 if C . p Apps E redpes [:3 seeds E3 random [:1 Want 9 titledmum andtwuk E ArnamnSmile [:3 keland E: semi Question The use of debt is sometimes described as financial leverage because debt can have the effect of increasing the return on 8 equity. Current Select one: 6.00 nnirlts nut . True ¢ M6 00 False ‘7 Flag “03:00" The correct answer is ‘True‘. I Question Guidelines (ruleseofethumb) are developed from: Select one: onrrecr 3. Industry statistics fromthe government. a 00 prints out are on o- b. Past expenence. q’ ‘7 Flag 1:. Analysis ufwmpetiturs. questm 0. Relations between financial items. e. Dun and Bradstreet. The correct answer is: Past experience. I. fiomded Exam #2 x‘ n 7 X (- *3 e [- httpsu'r'mDcdlestraighteriinaccm/mod/quiz/review.php?at‘tempt=1052644 {If C . Q E Apps E redpes E] seeds E3 random :1 Want 94mm". andtwuk EArnamnSmiie [:3 keland E: semi QUeEiiOl‘l The statement or cash flows explains how transactions and events impact the enu-or—perioa cash balance to produce the end— 1 O ofeperiod net income balance. Correct Select one: 6.00 cums nut True are on . False 4’ P Flag queehnn The correct answer is ‘False'. I Question Beginning Direct Materials $25,000 1 1 Ending Direct Materials $30,000 Beginning Goods in Proeess $55,000 Current Ending Goods in Process $64,000 Beginning Finished Goods $80,000 6-0“ Wm Wt Ending Finished Goods $67,000 are 00 Cost of Goods Sold for Lite period $540,000 Sales revenues for the period $1,254,000 V H” Operating expenses for Lite period $132,000 quesmm Refer to the figure above. Calculate the COSI Oi 90005 manufactured [Of the period in QUESIIOI'I. Select one: a. $550,000. h. $536,000. .. Qua nnn 1.“ 'fi Graded Exam #2 x ‘ fl 7 x (- 7‘ e I" https://moodlestrai'ghteriins-.com/mod/quiz/review.php?at‘tempt=1052644 if C. p Apps E rem-F15 [:3 seeds E3 random [:1 Want 94mm". andtwuk EArnamnSmiie [:3 keland E: Szhml V Ftag A quexbnn The correct answer is ‘False'. Question Beginning Direct Materials $25,000 1 1 Ending Direct Materials $30,000 Beginning Goods in Prooess $55,000 Correct Ending Goods in Process 3364.000 Beginning Finished Goods $80,000 5 9" PM“ “'1‘ Ending Finished Goods $67,000 are 00 Cost of Goods Sold for the period $540,000 Sales revenues for the period $1,154,000 V Hag Operating expenses for the period $132,000 quedh'i'm Refer to the figure above. Calculate the cost of goods manufactured for the period in question. Select one: a. $553,000. In. $530,000. c. $543,000. 0 0155212000..." 2. $525,000. The correct answer is: $521,000. J 'fi‘ Graded Exam #2 x n 7 X (- *3 e [- httpsu'r'mDodle.strai'ghteriins-.com/mod/quiz/review.php?attempt=1052644 {If C . Q E Apps E rem-F15 E] seeds E3 random Ci Want 9 disarm". andtwuk E AmamnSmiie [:3 keland E: Szhml Question Financing activities include receiving cash rrom issuing debt and receiving cash dividends from investments in other companies‘ 1 2 stocks. Correct Select one: 6 on pants nut True M600 0 False 1’ V Flag question The correct answer is ‘False'. Question The Lean Business Modelshould have no efiecton cost in a modern manufacturing environment. I Select one: Current True 6.00 uni-its out a” 00 . False J ‘7 FiBD qua-mm The correct answer 55 ‘Faise'. QUEEHOTI The appropriate sermon in the statement of cash flows for reporting the fish payment of wages is: 14 ‘ 5L Graded Exam #2 x‘ n X I (- 7‘ e I httpszoodlestrai'ghteriins-.com/mod/quiz/review.php?at‘tempt=1052644 if C . p E 555 Apps E reerpes [:3 seeds E3 random [:1 Want 9 4bEdmuni andtwuk E AmamnSmiie [:3 keland E: Sehmi Question The appropriate section in the statement of cash flows tor reporting the cash payment of wages is: Select one: Cnrrect o a. Operating activities. .1 6 on prints out 016.00 b. Financing activtties. ‘7 my C. Investing activities. quesnnn a. schedule of noncash investing orfinancing activity. e. None of these. This is not reported an the statement ufcash flows. The correct answer is: Operating activities. Question Managerial accounting is an activity that provides financial and nonfinancial information to an organization‘s managers and I 1 5 other internal decision makers, oarrect Select one: Gannntsout .Trueq' arson False ‘7 Flag question The correct answer 55 ‘TKUE‘. 1: 'fi‘ Graded Exam #2 x ‘ n X (- *3 e I httpsu'r'moodle.strai'ghteriins-.com/rnod/quiz/review.php?at‘tempt=1052644 {If C . Q E Apps E reerpes E] seeds E3 random E1 Want 9 4bEdmuni andtwuk E AmamnSmiie [:3 keland E: Sehmi Question Equipment costing $100,000 with accumulated depreciation of $40,000 is sold at a loss 01510000 This implies that $40,000 1 6 cash was received from thesale, Correct Select one: 6 on prints nut True arson 0 False 1’ V Flag questiim The correct answer !5 ‘False'. Question The evaluation otcompany performance and financial condition includes evaluation ot(1) past and current performance, (2) 1 7 current financial position, and (3) future perlormance and risk. correct Select one: son hunts nut . True .1 I arson _ False F FiBD queeim The correct answer is ‘True‘, Question The purchase of longeterm assets by issuing a note payable for the entire amount is reported on the statement of cash flows in 1 8 the: ‘SL Graded Exam3‘2 x‘ n 7 x 1 (- 7‘ e I httpsu'r'moodlestrai'ghteriins-.com/mod/quiz/review.php?at‘tempt=T 052644 if C . p E 555 Apps E refl'pts [:3 seeds E3 random [:1 Want 9 titledmum andtwut E ArnamnSmiie [:3 keland E: semi QUBEHOTI The purchase of long-term assets by issuing a note payable for the entire amount is reported on the statement of cash flows in A 1 8 the: Cnrrect Select one: 6 0" ”mg “m a. Operating activ es. M6 on b. Financing activities. V Fiag qmfim c. Investing acti ties. o- d. Schedule of nuncash financing and investing activities. .1 e. None of these. This is not reported on the statement ufcash flows. The correct answer is: Schedule of noncash financing and investing activities. Question A financial report that summarizes the amounts and types ofcosts that were incurred in the manufacturing process during the 1 9 period is a: correct Select one: 6 mm “m . a. Materiality statement. arson h. Managerial statement. ‘7 Fiag mam . c. Manufacturing statement. J G. Merchandise statement. e. Monetary statement. I: fiomdea Exam #2 x‘ n 7 X (- *3 e [- httpsu'r'moodlestrai'ghteriinecom/rnod/quiz/review.php?at‘tempt=T052644 {If C . Q E Apps E refl'pts E] seeds E3 random Ci Want 94mm". andtwut QAmamnSmiie [:3 keland E: semi Question The statement of cash flows helps analysts evaluate the: ‘ Select one: Gmeci a. Source of cash fardeht repayments. 6.00 {mm but 016.00 I). Source of cash for plantexpansuan. ‘7 my c. Differences between net income and netuperating cash flow. quflfinn d. Means used to finance investing activities. . e. All of these. J The correct answer is: Alloftnese. QUEEHOTI One difierence between financial and managerial accounting is that the external users that use financial information must plan a 21 company‘s future, but the internal users of managerial accounting information generally must decide whether to invest in or lend to a com n . omen pa y 6-00 Mints Wt Select one: arson True I V Fm . False 4’ question The correct answer is ‘False'. ‘SL Graded Exam3‘2 x‘ n 7 x (- 7‘ e [I httpszocdlestrar'ghterlinc-.ccm/mod/quiz/review.php?at‘tempt=1052644 if. C - f E 555 Apps E rem-pti [:3 seeds E3 random [:1 Want 9 4bEdmum andtwuk E ArnamnSmile [:3 keland E: School 1 Question Comparatrve financial statements In which each amount is expressed as a percentage ofa base amount are called Select one: Correct a. Asset comparative statements. a 0n punts out are on b. Percentage comparative statements. ‘7 H39 0 c. Common-size comparative statements. v’ queafim . d. sales comparative statements. e. General-purpose financial statements. The correct answer :5: Communislze comparative statements. Question A financial statement analysis repon: Select one: Correct a. Enables readers to see the processand rationale ofanalysis. a no punts nut ofGOD b. Forces preparers to organrle tneirreasoning and to verify the Iogrc of analysis. c. Serves as a method ofcommunioatron to users. V Flag quesunn d. Helps users and preparers to refine conclusions based on evidence from key building blocks. .. e. All of these. J I: fiomded Exam #2 x‘ n 7 X (- *3 e [- httpsu'f'mDodlestrar'ghterlinc-.com/mod/quiz/review.php?at‘tempt=1052644 {If C . Q E Apps E rem-pti E] seeds E3 random :1 Want 94mm". andtwuk QAmamnSmire [:3 keland E: Schml Question A corporation reported fish of $14,000 and total assets or $178,300, Its common—size percent for cash equatiltiflh Select one: Garrett . True .1 s on points out are: on False F Flag question The correct answer E5 ‘True‘. Question Net income drvided by net sales is the: Select one: Correct a. Return on total assets. 6 on pants nut arson . b. Profrt margrn. .1 c. Current ratio. ‘7 Flag quesfinn d. Total asset turnover. e. Days‘ sales in inventory. The correct answer E5: Profit margrn. I ...
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