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1. Which of the following statements is (are) true?
(A). Activity-based costs per unit are greater than volume-based costs per unit.
(B). Volume-based costing has typically resulted in lower gross margins for high volume products
and higher gross margins
(TCO 5) The distinction between operating and non-operating income relates to: (Points : 4)
continuity of income. principal activities of the reporting entity. consistency of income stream.
reliability of measurements.
2. (TCO 5) Major Co. reported a 2011
The music of the Rolling Stones was closest in style to that of
A) The Beatles
B) The Beach Boys
C) Elvis Presley
D) rhythm and blues
The "effective blend of serious concert music and rock" is called
A) jazz rock
B) folk rock
C) acid rock
D) art rock
Recall that very satisfied customers give the XYZ-Box video game system a rating that is at
least 42. Suppose that the manufacturer of the XYZ-Box wishes to use the random sample of 66
satisfaction ratings to provide evidence supporting the claim tha
The Housekeeping Service department of Ruger Clinic, a multispecialty practice in Toledo,
Ohio, had $100,000 in direct costs in 2007. These costs must be allocated to Rugers three
revenue-producing patient services departments using the direct method. Two
The experimentalist "Yankee" composer who shared many ideas with the Transcendentalist
A) Aaron Copland
B) Arnold Schoenberg
C) Charles Ives
D) Bela Bartok
Ives wrote about _ songs.
The music of Charle
Cajun music evolved in the remote areas of
What was the first "Latin" rhythm to affect American popular music?
Duke Ellington was the jazz musician who introduced
Esquire Products, Inc. expects the following monthly sales: January 24,000 February 15,000 March 8,000 April 10,000 May 4,000
June 2,000 July 18,000 August 22,000 September 25,000 October 30,000 November 38,000 December 20,000
Cash sales are 40 percent in
7. (TCO 3) Melissa Barry, CPA, is the auditor of Audio Video, Inc. Audio Video has not paid
Melissa's audit fee for the past two years. Melissa is working on this year's audit of Audit Video.
Determine whether Rule 101 - Independence - of the AICPA's Code
Practical Finance Management: Assignment #2
1. The Lineberry Golf Cart Co. sold 7,400 carts this year at an average unit price of $3,000.
Fifty days of sales remained uncollected in accounts receivable at the end of the year. The
firm produced the carts a
1. What is the amount of property and equipment on the balance sheet for the two most recent years? What
is the amount of depreciation expense? What amounts are on the cash flow statement for the most recent
year that relate to depreciation, gains and sal
1. Jones Company has a target capital structure of 30% debt, 15% preferred stock, and 55%
common equity. The company's after-tax cost of debt is 7%, its cost of preferred stock is
11%, its cost of retained earnings is 15%, and its cost of new common stock
1. A company purchased inventory on account. This transaction increased assets and
2. A company performed services for a customer on account. This transaction _
Decreased assets an
1. (TCO 2) Rossi Company has the following projected account balances for June 30, 20X9:
Inventories (5/31 & 6/30)
Direct materials used
1. Which of the following are period costs? (Points : 1) current assets on the balance sheet costs
incurred and expensed in the accounting period costs related to the sale of products current
liabilities on the balance sheet
2. Which of the following coul