Act105 Samenvattingen, Aantekeningen en Examens
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Act105 week 6 100% COMPLETE QUESTIONS AND ANSWERS
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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 4.2 100% COMPLETE QUESTIONS AND ANSWERS, GRADED A+-2023
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Question 1 of 10 10.0/ 10.0 Points 
When the periodic method of inventory accounting is used, purchases are recorded in the 
Inventory account. 
A. True 
B. 
False 
Answer Key: 
True 
Question 2 of 10 10.0/ 10.0 Points 
On January 1, 2007, Nichols Company’s inventory of Item X consisted of 2,000 units that 
cost $8 each. During 2007 the company purchased 5,000 units of Item X at $10, each, and it 
sold 4,500 units. Periodic inventory procedure is used. Cost of goods sold using LIFO is: 
A.$20,...
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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 6.1 Questions with 100% Correct Answers | Verified | Latest Update 2024
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Question 1 of 10 0.0/ 10.0 Points 
The data on a materials requisition are entered as debits to the Materials Inventory account. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 0.0/ 10.0 Points 
Which of the following statements does not apply to managerial accounting? 
A.Relates to the part of the company that the manager oversees. 
B.Helps managers make good decisions in financing, resource allocation, 
marketing, and production. 
C.Information is intended for internal use. 
D.Inform...
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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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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 6 Exam 2023 Questions and Answers (100% Correct)
- Tentamen (uitwerkingen) • 5 pagina's • 2024
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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...
-
Act105 week 3 Exam 2023 Questions and Answers (100% Correct)
- Tentamen (uitwerkingen) • 4 pagina's • 2024
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Question 1 of 10 10.0/ 10.0 Points 
Recognizing revenue at the time of completion of production is called the installment basis 
of accounting. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
Many accounting measurements are estimates and involve approximation and judgment. 
A. True 
B. 
False 
Answer Key: 
True 
Question 3 of 10 10.0/ 10.0 Points 
Salaries Expense before adjustment at September 30, the end of the fiscal year, has a 
balance of $140,000. The amount o...
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Act105 week 5 100% COMPLETE QUESTIONS AND ANSWERS,
- Tentamen (uitwerkingen) • 5 pagina's • 2024
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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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