Acct 2200 Exam 1 Questions With
Answers 100% Pass
[CH.10] Paying production workers with cash - ANSWER -increases inventory
-decreases cash
-decreases operating cash flow
[CH.10] SEC (security & exchange commission) - ANSWER Organization responsible for
regulating financial reporting
[CH.10] Indirect costs - ANSWER Costs that cannot be traced to a product or service in a
cost-effective manner
[CH.10] Period Costs - ANSWER General and administrative costs
[CH.10] To help managers analyze manufacturing costs schedule of ______ is prepared -
ANSWER Cost of goods manufactured and sold
[CH.10] As production of hers, material to you, labor and overhead our first accumulated
in_____ inventory. - ANSWER Work in process
[CH.10] Financial accounting provides info. used primarily by - ANSWER -creditors
, -investors
[CH.10] Purchasing materials with cash affects - ANSWER -operating activities on the
cash flow statement
[CH.10] inventory holding costs - ANSWER Examples:
-diminished motivation
-sloppy work
-inattentive attitudes
[CH.10] A company recorded a total of $1,200 in depreciation. If $900 is for
manufacturing equipment and $300 is for office equipment, a total of $______ will be
recorded as an expense. - ANSWER $300
[CH.10] GAAP (Generally Accepted Accounting Principles) - ANSWER The
pronouncements in practices that guide accountants as to how to report financial
information
[CH.10] which of the following would be included in manufacturing overhead? - ANSWER
-rent on manufacturing facilities
-indirect labor
-depreciation on manufacturing assets
-indirect materials
Answers 100% Pass
[CH.10] Paying production workers with cash - ANSWER -increases inventory
-decreases cash
-decreases operating cash flow
[CH.10] SEC (security & exchange commission) - ANSWER Organization responsible for
regulating financial reporting
[CH.10] Indirect costs - ANSWER Costs that cannot be traced to a product or service in a
cost-effective manner
[CH.10] Period Costs - ANSWER General and administrative costs
[CH.10] To help managers analyze manufacturing costs schedule of ______ is prepared -
ANSWER Cost of goods manufactured and sold
[CH.10] As production of hers, material to you, labor and overhead our first accumulated
in_____ inventory. - ANSWER Work in process
[CH.10] Financial accounting provides info. used primarily by - ANSWER -creditors
, -investors
[CH.10] Purchasing materials with cash affects - ANSWER -operating activities on the
cash flow statement
[CH.10] inventory holding costs - ANSWER Examples:
-diminished motivation
-sloppy work
-inattentive attitudes
[CH.10] A company recorded a total of $1,200 in depreciation. If $900 is for
manufacturing equipment and $300 is for office equipment, a total of $______ will be
recorded as an expense. - ANSWER $300
[CH.10] GAAP (Generally Accepted Accounting Principles) - ANSWER The
pronouncements in practices that guide accountants as to how to report financial
information
[CH.10] which of the following would be included in manufacturing overhead? - ANSWER
-rent on manufacturing facilities
-indirect labor
-depreciation on manufacturing assets
-indirect materials
