Chapter 18 Discussion Questions
1. ) Distinguish between managerial and financial accounting on
a.) Users and decision makers
F-investors, creditors, and other external users
M-managers, employees, and internal decision makers
b.) Purpose of
Discussion Questions- Chapter 21
1. What is a variable cost? Identify two variable costs.
A variable cost is a cost that changes directly and proportionately with volume changes, like leather used
to make footballs or plastic used to make dru
Discussion Questions Chapter 16
1. Describe the direct method of reporting cash flows from operating activities.
This method separately lists each major item or class of operating cash receipt (cash received, interest,
and dividends) and cash
Discussion Questions Chapter 14
1.) What is the main difference between a bond and a share of stock?
Stocks are taxed twice while bonds are not.
2.) What are the contract rate and the market rate for bonds?
The contract rate is the annual int
Chapter 15 Discussion Questions
1.) On a balance sheet, what valuation must be reported for short-term investments in trading
Trading securities are reported at market value on the balance sheet.
2.) Identify the three classes of
Chapter 19 Discussion Questions
1.) Why must a company estimate the amount of factory overhead assigned to individual jobs or job
A company estimates factory overhead so that a jobs total cost can be calculated prior to completion.
July 7th 2016
Discussion Question Chapter 13
1.) Identify and explain the importance of the three dates relevant to corporate dividends.
The first date is the Date of Declaration, which is the date the dir
Chapter 20 Discussion Questions
1.) What is the main factor for a company in choosing between the job order costing and process costing
accounting systems? Give TWO likely applications of each system.
The main factor seems to be the amount th
July 6th 2016
Discussion Questions Chapter 12
1.) Apple began as a partnership. What does the term mutual agency mean when applied to a
A mutual agency means that each partner of the partnersh