Properties of Indifference Curve
Introduction: - Indifference curve analysis is one of the important theories of managerial
economics. It is a geometrical device developed by J.R.Hicks and R.G.D. Allen in an article a
reconsideration of the theory of valu
Public Goods are goods for which
exclusion is impossible.
One example is National Defense: A
military that defends one citizen
from invasion does so for the entire
Characteristics of Public Goods
Cellular and Subcellular Structure and Function
Time Pair Share
Review Question: In one sentence, how would you
describe the cell theory? Why is this theory called
the foundation of modern Biology?
Why Are Cells So
Cells need sufficient
Name: _ Date: _
1. For each item below, indicate whether a debit or a credit applies.
a. Decrease in Accounts Payable
b. Decrease in Land
c. Increase in Retained Earnings
d. Increase in Unearned Revenue
e. Decrease in Interest Payable
f. Increase in Prepa
Under the realization principle, revenue should not be recognized until the earnings process
is deemed virtually complete and:
Ans: Collection is reasonably certain
Merchandise sold FOB shipping point indicates that: The buyer holds title after the
A construction company entered into a fixed-price contract to build an office building for $23.0 million.
Construction costs incurred during the first year were $7.1 million and estimated costs to complete at the end of the
year were $9 million. The build
When goods or services are exchanged for cash or claims to cash (receivables), revenues are
all of these.
The revenue recognition principle provides that revenue is recogniz
Guidelines for Conducting a Symposium Presentations
How to Proceed
1. Identify, an issue or topic that involves an important conflict in values and/or
interests. The issue or topic may be set forth as a topical question, a
Intermediate Accounting II
- Acquisition and Disposition of Property, Plant & Equipment -
1. If an exchange has commercial substance all losses should be recognized immediately and
all gains should be deferred.
If an exchange h
Chapter 08 - Current Liabilities and Contingencies
future, and the
QUESTIONSFORREVIEWOFKEYTOPICS past. It is a present
future, caused by a tr
BUDGETING, BUDGETARY ACCOUNTING,
AND BUDGETARY REPORTING
CHAPTER FOUR OUTLINE
1) The government budgetary perspective
2) Budgetary accounting and reporting
a) Budgetary accounting and control
i) Budgetary entrygeneral ledger
a. Foreign Corrupt Practices Act b. Securities Exchange Act of 1934 c. Securities Litigation Uniform Standards Act of
1998 d. Securities Act of 1933 e. Ultramares doctrine f. Audit risk g. Audit failure h. Standards failure i. Business
failure j. Absence
(General Ledger Worksheet or T-account Entries)
The following is a trial balance of the General Fund of the city of Lynnville as of
December 31, 20X0, after closing entries:
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
The Jackson Independent School District began the year with the following accounts on its Balance Sheet
related to property taxes (all amounts are in thousands of dollars). All accounts have normal balances:
Taxes Receivable Delinquent.
Allowance for Unco
STATEMENT OF ACTIVITIES - Weinstein Musical Society
Unrestricted cash contributions
Unrestricted pledges during year (and outstanding at year end)
Collections of unrestricted pledges from prior year
Cash contributions restricted f
MULTIPLE CHOICE & PROBLEM SOLVING QUESTIONS (SOLUTIONS)
MULTIPLE CHOICE [11 x 1 = 11 Marks]
The most common use of cost benefit-analysis has been for planning:
the budget position
public sector investment schemes
the pricing policy of private
SECTION 1: MULTIPLE CHOICE [40 x 1= 40 MARKS]
Public finance has to do with all of the following activities of government except?
government taxing activities
governments direct competition with the private sector
allocation of resources
Began 2013 with 200 units of its one product. These units were
near the end of 2012 for $ 25 each. During the month of January 100
were purchased on January 8 for $ 28 each and another 200 units
purchased on J
1) July 1, 2013 Apache Company sold a parcel of undeveloped land to a construction
company for $ 3,000,000. The book value of the land on Apaches books was $
1,200,000. Terms of the sale required a down payment of $ 150,000 and 19 annual
payments of $ 150
Review questions exam 1
Which of the following statements is most correct?
One advantage of forming a corporation is that you have limited liability. *
Corporations face fewer regulations than sole proprietorships.
unkind on mm cum Tum nriabh manufacturing mmmm ditlct nut-rill cut. '31! poi-mil:
MASTER BUDGET AND RESPONSIBILITY
1. Understand what a master budget is and explain its benefits
2. Describe the advantages of budgets
3. Prepare the operating budget and its supporting schedules
4. Use computer-bas
CHAPTER 8: FLEXIBLE BUDGETS, VARIANCES, AND MANAGEMENT
Overhead costs are a major part of costs for most companies more than 50% of all
costs for some companies.
At the start of the budg
Indicate (by letter) the way each of the items listed below should be reported in a balance sheet
at December 31, 2013.
2) On November 1, 2013 Quantum Technology, a geothermal energy supplier,
borrowed $16 million cash to fund a geothermal survey. The loa
Less: Purchase Return
Add: Net Markup
Less: Net Markdown
Goods Available for Sale
Less: Normal Spoilage
Which of the following cost(s) are inventoried when using variable costing?
Direct manufacturing costs
Variable marketing costs
Fixed manufacturing costs
Both (a) and (b)
Pop Quiz Chapter 8
In a standard costing system, a cost-allocation base would MOST likely be:
Any of these answers is correct.
The variable overhead flexible-budget varianc