WGU C213 Accounting for Decision Makers |PA
|Pre Assessment -Solved
Correct
Incorrect
1 of 65
Term
Which form of debt should be reported in the long-term liability
category?
O Accounts payable due in 30 days
O Salaries payable due in 2 weeks
O Unearned revenue that will be earned in 9 months
O Notes payable expected to be paid in 18 months
Give this one a try later!
O Cash payments for purchase of O Notes payable expected to
plant assets be paid in 18 months
, O The Public Company Accounting O Salary cost of the receptionist
Oversight Board (PCAOB) O Advertising cost
Don't know?
2 of 65
Term
60. A company reported the following information for the production
and sale of 500,000 gallons of oil:
Sales: $1,500,000
Production costs
Direct materials: $575,000
Direct labor: $300,000
Applied overhead (Using ABC)
Overhead based on number of gallons: $375,000
Overhead based on number of batches: $100,000
Overhead based on number of ingredients: $180,000
Total production cost: $1,530,000
Gross profit: ($30,000)
Overhead was applied based upon the following predetermined
overhead rates:
$0.75 per gallon
$500 per batch
$1,000 per ingredient
,What would be the gross profit if the company increased their selling
price per gallon by $0.10?
O $10,000
O $20,000
O $50,000
O $75,000
Give this one a try later!
O $35,750 O $20,000
Borrowing Long-Term Debt 200,000
Payment of Cash Dividends -15,000
Repurchase of Treasury Stock -40,000 O $24,750
O $145,000
Don't know?
3 of 65
Term
5. Which body regulates a certified public accounting firm's audit
practices when the firm is auditing a large publicly traded company?
O Another certified accounting firm (CPA)
O The Public Company Accounting Oversight Board (PCAOB)
, O The internal revenue service (IRS)
O The financial accounting standards board (FASB)
Give this one a try later!
O The number of race participants O An increase in its comparability to
and spectators other companies
O The impact a business's activities O The Public Company
have on its overall financial Accounting Oversight Board
performance (PCAOB)
Don't know?
4 of 65
Term
16. Partial financial information for a company is as follows:
Current assets $36,543
Total assets $58,719
Current liabilities $24,824
Total liabilities $48,561
Stockholders' equity $10,158
Sales $46,997
Net Income $ 3,761
Market value of shares $41,316
What is the price-earnings (PE) ratio for this company?
|Pre Assessment -Solved
Correct
Incorrect
1 of 65
Term
Which form of debt should be reported in the long-term liability
category?
O Accounts payable due in 30 days
O Salaries payable due in 2 weeks
O Unearned revenue that will be earned in 9 months
O Notes payable expected to be paid in 18 months
Give this one a try later!
O Cash payments for purchase of O Notes payable expected to
plant assets be paid in 18 months
, O The Public Company Accounting O Salary cost of the receptionist
Oversight Board (PCAOB) O Advertising cost
Don't know?
2 of 65
Term
60. A company reported the following information for the production
and sale of 500,000 gallons of oil:
Sales: $1,500,000
Production costs
Direct materials: $575,000
Direct labor: $300,000
Applied overhead (Using ABC)
Overhead based on number of gallons: $375,000
Overhead based on number of batches: $100,000
Overhead based on number of ingredients: $180,000
Total production cost: $1,530,000
Gross profit: ($30,000)
Overhead was applied based upon the following predetermined
overhead rates:
$0.75 per gallon
$500 per batch
$1,000 per ingredient
,What would be the gross profit if the company increased their selling
price per gallon by $0.10?
O $10,000
O $20,000
O $50,000
O $75,000
Give this one a try later!
O $35,750 O $20,000
Borrowing Long-Term Debt 200,000
Payment of Cash Dividends -15,000
Repurchase of Treasury Stock -40,000 O $24,750
O $145,000
Don't know?
3 of 65
Term
5. Which body regulates a certified public accounting firm's audit
practices when the firm is auditing a large publicly traded company?
O Another certified accounting firm (CPA)
O The Public Company Accounting Oversight Board (PCAOB)
, O The internal revenue service (IRS)
O The financial accounting standards board (FASB)
Give this one a try later!
O The number of race participants O An increase in its comparability to
and spectators other companies
O The impact a business's activities O The Public Company
have on its overall financial Accounting Oversight Board
performance (PCAOB)
Don't know?
4 of 65
Term
16. Partial financial information for a company is as follows:
Current assets $36,543
Total assets $58,719
Current liabilities $24,824
Total liabilities $48,561
Stockholders' equity $10,158
Sales $46,997
Net Income $ 3,761
Market value of shares $41,316
What is the price-earnings (PE) ratio for this company?
