Studentehelp are offers you finest ACC 561 Final Exam answers, acc 561 wiley plus final exam, acc 561 final exam uop,uop acc 561 final exam answers. .we provides you first rated Studentehelp is known for the excellent online tutorial store answers for univercity of phoenix students.
Original Title
ACC 561 Final Exam:ACC 561 Final Exam Questions And Answers | Studentehelp
Studentehelp are offers you finest ACC 561 Final Exam answers, acc 561 wiley plus final exam, acc 561 final exam uop,uop acc 561 final exam answers. .we provides you first rated Studentehelp is known for the excellent online tutorial store answers for univercity of phoenix students.
Studentehelp are offers you finest ACC 561 Final Exam answers, acc 561 wiley plus final exam, acc 561 final exam uop,uop acc 561 final exam answers. .we provides you first rated Studentehelp is known for the excellent online tutorial store answers for univercity of phoenix students.
If you are new student of account subject in University of
Phoenix, don't worry. We can help you in ACC 561 final exam. Student e help is provide you A+ rated Acc 561 wiley plus final exam, acc 561 final exam questions and answers, acc 561 final exam university of phoenix, uop acc 561 final exam answers, ACC 561 Final Exam question-answers.
ACC 561 FINAL EXAM LATEST
ACC 561 Final Exam (Latest) 49.Which of the following is an advantage of corporations relative to partnerships and sole proprietorships? Lower taxes. Harder to transfer ownership. Most common form of organization.
Reduced legal liability for investors.
64. The group of users of accounting information charged with
achieving the goals of the business is its auditors. creditors. managers. investors.
110. Which of the following financial statements is concerned
with the company at a point in time? Income statement. Balance sheet. Retained Earnings statement. Statement of cash flows.
112. An income statement
presents the revenues and expenses for a specific period of
time. summarizes the changes in retained earnings for a specific period of time. reports the assets, liabilities, and stockholders equity at a specific date. reports the changes in assets, liabilities, and stockholders equity over a period of time.
118. The most important information needed to determine if
companies can pay their current obligations is the net income for this year. relationship between current assets and current liabilities. projected net income for next year. relationship between short-term and long-term liabilities.
124. A liquidity ratio measures the
short-term ability of a company to pay its maturing obligations and to meet unexpected needs for cash.
percentage of total financing provided by creditors.
income or operating success of a company over a period of time. ability of a company to survive over a long period of time.
165. The convention of consistency refers to consistent use of
accounting principles throughout the accounting periods. among firms. within industries. among accounting periods.
90.Horizontal analysis is also known as
common size analysis. linear analysis. vertical analysis. trend analysis.
92. Horizontal analysis is a technique for evaluating a series of
financial statement data over a period of time to determine which items are in error. that has been arranged from the highest number to the lowest number. to determine the amount and/or percentage increase or decrease that has taken place. that has been arranged from the lowest number to the highest number.
111. Vertical analysis is a technique that expresses each item
in a financial statement as a percent of a base amount. in dollars and cents. starting with the highest value down to the lowest value. as a percent of the item in the previous year.
41. Process costing is used when
the production process is continuous.
costs are to be assigned to specific jobs.
production is aimed at filling a specific customer order. dissimilar products are involved.
43. An important feature of a job order cost system is that
each job must be similar to previous jobs completed. has its own distinguishing characteristics. must be completed before a new job is accepted. consists of one unit of output.
49. In a process cost system, product costs are summarized:
on job cost sheets. on production cost reports. when the products are sold. after each unit is produced.
33. An activity that has a direct cause-effect relationship with
the resources consumed is a(n) overhead rate. product activity. cost driver. cost pool.
40. Activity-based costing
allocates overhead to multiple activity cost pools, and it then assigns the activity cost pools to products and services by means of cost drivers. assigns activity cost pools to products and services, then allocates overhead back to the activity cost pools. accumulates overhead in one cost pool, then assigns the overhead to products and services by means of a cost driver. allocates overhead directly to products and services based on activity levels.
40. A cost which remains constant per unit at various levels of
activity is a mixed cost. fixed cost. manufacturing cost. variable cost.
105. The break-even point is where
total sales equal total variable costs. total variable costs equal total fixed costs. total sales equal total fixed costs. contribution margin equals total fixed costs.
109. Fixed costs are $600,000 and the contribution margin per unit is $150. What is the break-even point? $1,500,000 $4,000,000 1,500 units
4,000 units
94. When a company assigns the costs of direct materials,
direct labor, and both variable and fixed manufacturing overhead to products, that company is using product costing. operations costing. absorption costing. variable costing.
122. If a division manager's compensation is based upon the
division's net income, the manager may decide to meet the net income targets by increasing production when using variable costing, in order to increase net income. variable costing, in order to decrease net income. absorption costing, in order to increase net income. absorption costing, in order to decrease net income.
50. An unrealistic budget is more likely to result when it
has been developed by all levels of management.
has been developed in a bottom up fashion. has been developed in a top down fashion. is developed with performance appraisal usages in mind.
39. A major element in budgetary control is
the valuation of inventories. the preparation of long-term plans. approval of the budget by the stockholders. the comparison of actual results with planned objectives.
43. The purpose of the sales budget report is to
control sales commissions. control selling expenses. determine whether income objectives are being met. determine whether sales goals are being met.
89. The accumulation of accounting data on the
basis of the individual manager who has the authority to make day-to-day decisions about activities in an area is called flexible accounting. static reporting. responsibility accounting. master budgeting.
142. Variance reports are
external financial reports. SEC financial reports. internal reports for management. all of these.
40. Internal reports that review the actual impact of decisions
are prepared by the controller. management accountants.
factory workers. department heads.
42. The process of evaluating financial data that change under
alternative courses of action is called cost-benefit analysis. contribution margin analysis. incremental analysis. double entry analysis.
54.Seasons Manufacturing manufactures a product with a unit
variable cost of $100 and a unit sales price of $176. Fixed manufacturing costs were $480,000 when 10,000 units were produced and sold. The company has a one-time opportunity to sell an additional 1,000 units at $140 each in a foreign market which would not affect its present sales. If the company has sufficient capacity to produce the additional units, acceptance of the special order would affect net income as follows: Income would increase by $40,000. Income would decrease by $8,000.
Income would increase by $140,000.
Income would increase by $8,000. Read More ACC 561 FINAL EXAM (LATEST) if you have interest in extra online educational tutorial of phoenix university, just click on a link: http://www.studentehelp.com/university-of-phoenix/ACC-561.html
Fin 571 connect problems
Fin 575 final exam Law 421 final exam Law 575 final exam Ldr 300 final exam Ldr 531 final exam Mkt 421 final exam YOU NEED MORE INFORMATION JUST A CLICK ON AWAY: HTTP://WWW.STUDENTEHELP.COM/