A. rarely become involved in an organization's decision-making activities.
B. make decisions that focus solely on an organization's accounting matters.
C. collect data and provide information so that decisi
Which of the following statements is true?
A. The word "cost" has the same meaning in all situations in which it is used.
B. Cost data, once classified and recorded for a specific application, are appropriate for use in any
The relationship between cost and activity is termed as:
A. cost estimation.
B. cost prediction.
C. cost behaviour.
D. cost analysis.
E. cost approximation.
Which of the following costs changes in total in direct proportion to
The break-even point is the volume of activity where:
A. total revenue equals total cost.
B. variable cost equals fixed cost.
C. total contribution margin equals the sum of variable cost plus fixed cost.
D. sales revenue equals to
Process costing is used to account for:
A. large numbers of identical products that are produced in a continuous manufacturing environment.
B. small number of products that are produced in batches.
C. raw materials that are conver
A standard cost:
A. is the "true" cost of a unit of production.
B. is a budget for the production of one unit of a product or service.
C. can be useful in calculating equivalent units.
D. is normally the average cost within an ind
Many traditional product costing systems:
A. trace manufacturing overhead to individual activities and require the development of numerous
B. write off manufacturing overhead as an expense of the current pe
Product costing in a manufacturing firm is the process of:
A. accumulating the company's period costs.
B. allocating costs among the firm's departments.
C. placing a value on the company's fixed assets.
D. assigning costs to the f
Which of the following business models considers financial, customer satisfaction, internal operations,
and learning and growth in the evaluation of performance?
A. Deterministic simulation.
B. Balanced scorecard.
C. Payoff matrix
When the managers of subunits throughout an organization strive to achieve the goals set by top
management, the result is:
A. goal congruence.
B. planning and control.
C. responsibility accounting.
D. delegation of decision-making
Generally speaking, budgets are not used to:
A. identify a company's most profitable products.
B. evaluate performance.
C. create a plan of action.
D. assist in the control of profit and operations.
E. facilitate communication and
Which of the following statements about managerial accountants is false?
A. In the past, managerial accountants operated in a strictly staff capacity.
B. Managerial accountants often are part of cross-functional teams.
C. An incre
Solutions for Chapter 5
Net addition (Cannot
Solution 11: Schedule 1 Reconciliation
Net income before tax for accounting purposes
Unrecorded receivable (paragraph 12(1)(b)
Meals and entertainment ($10,400 50%) (subsection 67.1(1)
Charitable donations (paragraph 18(1)(a)
Club dues (par
Solutions to Chapter 3 Assignment Problems
Solution 2: Stock optionCCPC, Public, Compare
For employee stock options, the amount and nature of the income does not vary with the type of corporation;
only the timing varies
Solutios for Chapter 2
Solution 1: Individual residency Multi-Part
Steps from Exhibit 2-2:
Gather all the facts leading up to, during, and after the move. Refer to Exhibit 2-3 for the facts
Develop your best arguments for both resident and n
Mini Case: Cash Management At Webb Corporation
1. The amount the company will have available is the future value of the transfers, which are an
The total net cash flow available in two weeks:
= (1- transaction cost) x Number of transfe
Mini Case Stock Valuation at Regan Inc.
1. Total earnings=100,000x$4.32=$432,000
Total dividends paid=$54,000 x 2=$108,000
Payout ratio= $108,000/$432,000=0.25
The companys growth rate: g= ROE x b=0.25 x 0.75=0.1875, 18.75%
Case 1: Lottery Winnings- Looks Can Be Deceptive!
1. If you were one of the winners, which option would you select?
To find r: FV=PV(1+r)^26
Formal Research Report
Formal report is going to be fairly long, at least 10 pages long. You may write the same thing
more than once. There is built-in redundancy. You never know what part of the report will be
looked at, thats why it would be repetition
EVP of bank of Ontario
Intro- catch the readers attention with an interesting hook
Summary that says what youre going to do for them
Should end by saying, when you will be done and what it will be cost. It will be a budget. (Date and price)
2010 Cengage Learning
Deduction from AGI are itemized deductions (this
Subtracted after AGI is calculated
Six categories - itemized deductions on Schedule A
Two special additions to standard
Sources of Income
Income from Salaries
Income from House Property
Profits & Gains from Business OR Profession
Income from Other Sources
You are going to be taxed anyways .
So grin and bear it!
We could pay taxe
TYPES OF RESIDENTIAL STATUS
FOR FIRM ,
In india , for 182 days or more in a Previous year
60 days* or more in a Previous year plus 36
An evaluation of property tax system in Malaysia
Rapid population growth and increasing urbanization have triggers increases in demand for real
property. These developments ultimate translate to the responsibility of local authority in providing
Who can file ITR -1:
ITR1 Form is to be used by an Individual having income from
Income from Salary/ Pension
Income from One House Property (not being brought forward
losses from previous years)
Income from Other Sources (not being inco
WHY STUDY RESIDENTIAL STATUS?
Tax incidence on an assesse depends on his residential
status. For instance, whether an income, accrued to an
individual outside India, is taxable in India depends upon
the residential status of the indiv
Tax incidence on an assessee depends on his
For instance, whether an income, accrued to an
individual outside india, is taxable in india depends
upon the residential status of the individual in indi
TAX LAW: A BROADER PERSPECTIVE
Accounting for Income Taxes
Taxes and the Law: A Broader Perspective
Taxes are everywhere and exist as a vital part of national structure, both legally and financially. Taxation
influences everything from wages to inheritanc