Acct 105 Study guides, Class notes & Summaries
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Act105 week 3 Question 1 of 10 10.0/ 10.0 Points The stable dollar assumption is that fluctuations in the value of the dollar are significant and may not be ignored. A. True B. False Answer Key: False Question 2 of 10 10.0/ 10.0 Points The percentage-of-c
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Question 1 of 10 10.0/ 10.0 Points 
The stable dollar assumption is that fluctuations in the value of the dollar are significant and 
may not be ignored. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
The percentage-of-completion method recognizes revenue at the point of sale. 
A. True 
B. 
False 
Answer Key: 
False 
Question 3 of 10 10.0/ 10.0 Points 
Which of the following statements is false? 
A.Inclusion of special journals and subsidiary ledgers increased the e...
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GFEBS L250E Acquisition Process Overview Exam Questions and Answers 100% Pass
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GFEBS L250E Acquisition Process 
Overview Exam Questions and 
Answers 100% Pass 
Spending Chain Process - Answer- The Acquisition process: 
Material Master Data 
Vendor Master Data 
Procurement with Logistics 
The Accounts Payable process 
Material Master Data - Answer- sub-process encompasses the creation and 
maintenance of material master data. The main activity associated with this sub-process 
is: 
Perform Material Configuration: Source, maintain, and apply material master data. 
Vendor Mas...
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Act105 week 5 |100% COMPLETE QUESTIONS AND ANSWERS
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Question 1 of 10 10.0/ 10.0 Points 
The most important reason for preparing a statement of cash flows is to compute the 
change in cash. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
What is the stockholders’ equity to debt ratio for the following data? Total current liabilities 
(noninterest bearing) - $300,000; bonds payable, 5% (issued in 2007, due in 20 years) - 
$600,000; preferred 6% stock, $200 par - $240,000; common stock, $20 par - $480,000; 
premium on ...
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Act105 week 4.1 100% COMPLETE QUESTIONS AND ANSWERS,
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uestion 1 of 10 0.0/ 10.0 Points 
An overstated ending inventory leads to understated net income. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
During a period of rising prices, which inventory costing method might be expected to give 
the lowest valuation for inventory on the balance sheet? 
A.LIFO 
B.FIFO 
C.Weighted-average 
cost 
D.Specific 
identification
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Assignments. ACCT105-3 Exam 2023 Questions and Answers (100% Correct)
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Assignment 3: Acct105 2 
There is so many things that can impact financial statements when it comes to certain 
accounting transactions. Expenses and income in the financial statements help any type of 
company identify what their net worth and their net income is. When we are looking the net 
worth or income, you are usually looking within a certain time frame. When you record 
revenues, it shows that companies growing business transactions are done before expenses. 
When you are recording expe...
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Act105 week 6 Exam 2023 Questions and Answers (100% Correct)
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Question 1 of 10 10.0/ 10.0 Points 
Because automobiles differ so much, their manufacture is likely to be accounted for in a job 
costing system. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
Which of the following would be classified as manufacturing overhead? (1) marketing 
research; (2) depreciation on president’s office facilities; (3) advertising; (4) factory taxes; 
(5) indirect materials; (6) machinery maintenance. 
A.1, 3, 4 are manufacturing overhead 
co...
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Act105 week 5.3 100% COMPLETE QUESTIONS AND ANSWERS,
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Question 1 of 10 10.0/ 10.0 Points 
Depreciation provides cash for replacing plant assets; and this is the reason depreciation is 
shown as an inflow of cash on the statement of cash flows. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
Cash received from the issuance of long-term debt is a financing activity. 
A. True 
B. 
False 
Answer Key: 
True 
Question 3 of 10 10.0/ 10.0 Points 
When net income is used as a starting point in measuring cash flows from operating...
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Act105 week 5.2 100% COMPLETE QUESTIONS AND ANSWERS,
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Question 1 of 10 10.0/ 10.0 Points 
Any reputable company has a cash flow liquidity ratio of greater than 1.0. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
The amount of depreciation expense in a period is added back to net income under the 
indirect method. 
A. True 
B. 
False 
Answer Key: 
True 
Question 3 of 10 0.0/ 10.0 Points 
What is the current ratio for the following data? Cash - $34,000; marketable securities - 
$16,000; accounts and notes receivable, net...
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Act105 week 7.2 Questions with 100% Correct Answers | Verified | Latest Update 2024
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uestion 1 of 10 10.0/ 10.0 Points 
Section 404 of Sarbanes-Oxley levies duties on both management and outside auditors of 
public reporting companies. 
A. True 
B. 
False 
Answer Key: 
True 
Question 2 of 10 10.0/ 10.0 Points 
Which of the following is not one of the four specific responsibilities that PCAOB Auditing 
Standard No. 2 levies on company management? 
A.Accept responsibility for the effectiveness of the company’s internal control over 
financial reporting. 
B.Evaluate the effective...
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Act105 week 4 100% COMPLETE QUESTIONS AND ANSWERS, study guide
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Question 1 of 10 10.0/ 10.0 Points 
Inventory costs include only the seller’s invoice price less any purchase discounts. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
The following principle requires a company to show in its financial statements by means of a 
footnote or other manner, the inventory costing method used: 
A.conservation 
principle. 
B.full-disclosure
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