ACCT 212 FINAL MC - PROF KOSS
(Liberty University) exam with answers
what |is |not |needed |for |a |DL |budget |- |verified |answersMaterial |pricer |per |pound |of |material
three |most |common |tools |of |financial |analysis |- |verified |answershorizontal |analysis, |vertical |analysis, |
ration |analysis
what |is |a |budget |that |is |periodically |revised |and |new |periods |added |to |replace |those |that |have |
lapsed |- |verified |answersrolling |budget
current |assets |- |current |liabilities |= |- |verified |answersworking |capital
rate |yields |a |net |present |value |of |zero |for |an |investment |- |verified |answersinternal |rate |of |return
when |calculating |departmental |overhead |rate, |numerators |should |be |- |verified |answerstotal |
estimated |departmental |overhead |cost
what |is |the |first |step |in |calculating |sales |mix |when |resources |are |constrained? |- |verified |
answerscalculating |cm |per |product, |then |CM |for |machine |hour
calculation |of |payback |period |when |net |cash |flow |is |even |(equal) |- |verified |answerscost |of |
investment/annual |net |cash |flow
cost |that |is |unchanged |in |total |despite |changes |in |volume |of |activity |- |verified |answersfixed |cost
what |are |methods |to |analyze |past |cost |behavior |- |verified |answershigh |low, |scatter |diagram, |
regression
balanced |scorecard |requires |managers |to |think |of |the |company |from |how |many |perspectives? |- |
verified |answersfour
which |of |the |following |would |be |an |investing |activity |on |cash |flow |- |verified |answerspurchase |of |
equipment
department |that |generates |cost |without |directly |generating |revenue |- |verified |answerscost |center
investment |center |ROI |formula |- |verified |answersincome/avg |invested |assets
expenses |not |easily |associated |with |a |specific |department |are |- |verified |answersindirect |expense
time |value |of |money |concept |- |verified |answersa |dollar |today |is |worth |more |than |a |dollar |tomorrow
sales |level |at |which |company |neither |earns |a |profit |nor |incurs |a |loss |is |- |verified |answersbreak |even |
point
beginning |inventory |plus |purchases |for |a |merchandiser |equals |- |verified |answerscost |of |goods |
available |for |sale
, when |companies |sell |more |that |1 |product, |we |estimate |break |even |point |by |using |- |verified |
answerscomposite |units
analytical |tech |used |to |focus |on |most |significant |variances |- |verified |answersmanagement |by |
exception
which |department |is |responsible |for |DM |price |variance |- |verified |answerspurchasing
which |of |the |following |is |most |likely |to |be |produced |in |process |operations |system |- |verified |
answerscereal
type |of |budget |based |on |single |prediction |sales |volume |- |verified |answersfixed |budget
example |of |DL |cost |is |- |verified |answersproduct |assembly |wages
rent |and |maintenance |would |most |likely |be |allocated |based |on |- |verified |answerssquare |feet |or |floor |
spaces |occupied |by |each |department
which |of |the |following |costs |is |not |included |in |factory |OH |- |verified |answersDM
ability |to |generate |future |revenue |and |meet |longterm |obligations |- |verified |answerssolvency
costs |already |incurred |in |manufacturing |units |that |don't |meet |quality |- |verified |answerssunk |costs
from |an |ABC |perspective, |what |causes |costs |to |be |incurred |- |verified |answersactivities
a |company's |required |rate |of |return, |typically |cost |of |capital |is |called |- |verified |answershurdle |rate
which |of |the |following |products |would |be |most |applicable |for |a |job |costing |- |verified |answerscustom |
jewelry
showing |each |item |on |financial |statement |as |a |percentage |of |a |base |amount |is |- |verified |
answerscommon |size |financial |statement
cost |object |of |plantwide |OH |rate |method |- |verified |answersunits |of |production
an |additional |cost |incurred |only |if |a |company |pursues |a |particular |course |of |action |is |- |verified |
answersincremental |cost
segments |may |be |considered |for |elimination |when |- |verified |answersrevenue |do |not |exceed |direct |
cost
a |cost |that |can't |be |avoided |or |change |because |it |arises |from |past |decisions |is |called |- |verified |
answerssunk |cost
difference |between |actual |price |per |unit |and |standard |price |per |unit |- |verified |answersprice |variance
what |are |ways |of |evaluating |capital |budget |expenditures |- |verified |answersaccounting |rate |of |return, |
NPV, |Payback |period
journal |entry |to |record |indirect |materials |would |be |- |verified |answersdebit |to |Factory |OH |and |credit |
to |raw |materials |inventory
sales |price |per |unit |- |variable |price |per |unit |= |- |verified |answerscontribution |margin
(Liberty University) exam with answers
what |is |not |needed |for |a |DL |budget |- |verified |answersMaterial |pricer |per |pound |of |material
three |most |common |tools |of |financial |analysis |- |verified |answershorizontal |analysis, |vertical |analysis, |
ration |analysis
what |is |a |budget |that |is |periodically |revised |and |new |periods |added |to |replace |those |that |have |
lapsed |- |verified |answersrolling |budget
current |assets |- |current |liabilities |= |- |verified |answersworking |capital
rate |yields |a |net |present |value |of |zero |for |an |investment |- |verified |answersinternal |rate |of |return
when |calculating |departmental |overhead |rate, |numerators |should |be |- |verified |answerstotal |
estimated |departmental |overhead |cost
what |is |the |first |step |in |calculating |sales |mix |when |resources |are |constrained? |- |verified |
answerscalculating |cm |per |product, |then |CM |for |machine |hour
calculation |of |payback |period |when |net |cash |flow |is |even |(equal) |- |verified |answerscost |of |
investment/annual |net |cash |flow
cost |that |is |unchanged |in |total |despite |changes |in |volume |of |activity |- |verified |answersfixed |cost
what |are |methods |to |analyze |past |cost |behavior |- |verified |answershigh |low, |scatter |diagram, |
regression
balanced |scorecard |requires |managers |to |think |of |the |company |from |how |many |perspectives? |- |
verified |answersfour
which |of |the |following |would |be |an |investing |activity |on |cash |flow |- |verified |answerspurchase |of |
equipment
department |that |generates |cost |without |directly |generating |revenue |- |verified |answerscost |center
investment |center |ROI |formula |- |verified |answersincome/avg |invested |assets
expenses |not |easily |associated |with |a |specific |department |are |- |verified |answersindirect |expense
time |value |of |money |concept |- |verified |answersa |dollar |today |is |worth |more |than |a |dollar |tomorrow
sales |level |at |which |company |neither |earns |a |profit |nor |incurs |a |loss |is |- |verified |answersbreak |even |
point
beginning |inventory |plus |purchases |for |a |merchandiser |equals |- |verified |answerscost |of |goods |
available |for |sale
, when |companies |sell |more |that |1 |product, |we |estimate |break |even |point |by |using |- |verified |
answerscomposite |units
analytical |tech |used |to |focus |on |most |significant |variances |- |verified |answersmanagement |by |
exception
which |department |is |responsible |for |DM |price |variance |- |verified |answerspurchasing
which |of |the |following |is |most |likely |to |be |produced |in |process |operations |system |- |verified |
answerscereal
type |of |budget |based |on |single |prediction |sales |volume |- |verified |answersfixed |budget
example |of |DL |cost |is |- |verified |answersproduct |assembly |wages
rent |and |maintenance |would |most |likely |be |allocated |based |on |- |verified |answerssquare |feet |or |floor |
spaces |occupied |by |each |department
which |of |the |following |costs |is |not |included |in |factory |OH |- |verified |answersDM
ability |to |generate |future |revenue |and |meet |longterm |obligations |- |verified |answerssolvency
costs |already |incurred |in |manufacturing |units |that |don't |meet |quality |- |verified |answerssunk |costs
from |an |ABC |perspective, |what |causes |costs |to |be |incurred |- |verified |answersactivities
a |company's |required |rate |of |return, |typically |cost |of |capital |is |called |- |verified |answershurdle |rate
which |of |the |following |products |would |be |most |applicable |for |a |job |costing |- |verified |answerscustom |
jewelry
showing |each |item |on |financial |statement |as |a |percentage |of |a |base |amount |is |- |verified |
answerscommon |size |financial |statement
cost |object |of |plantwide |OH |rate |method |- |verified |answersunits |of |production
an |additional |cost |incurred |only |if |a |company |pursues |a |particular |course |of |action |is |- |verified |
answersincremental |cost
segments |may |be |considered |for |elimination |when |- |verified |answersrevenue |do |not |exceed |direct |
cost
a |cost |that |can't |be |avoided |or |change |because |it |arises |from |past |decisions |is |called |- |verified |
answerssunk |cost
difference |between |actual |price |per |unit |and |standard |price |per |unit |- |verified |answersprice |variance
what |are |ways |of |evaluating |capital |budget |expenditures |- |verified |answersaccounting |rate |of |return, |
NPV, |Payback |period
journal |entry |to |record |indirect |materials |would |be |- |verified |answersdebit |to |Factory |OH |and |credit |
to |raw |materials |inventory
sales |price |per |unit |- |variable |price |per |unit |= |- |verified |answerscontribution |margin
