Cost accounting quiz Study guides, Class notes & Summaries

Question 1 1 / 1 pts The cost recovery period for 3­year class property is 4 years. True False Question 2 1 / 1 pts If more than 40% of the value of property, other than real property, is placed in service during the last quarter, all of the property placed in service in the second quarter will be allowed 7.5 months of cost recovery. True False Question 3 1 / 1 pts Under the MACRS straight­line election for personalty, only the half­year convention is applicable. tax accoun...

Acct 211 Quiz #1Measurement Principle - correct answer (also called the cost principle) means that accounting information is based on actual cost Revenue Recognition Principle - correct answer Provides guidance on when a company must recognize revenue Matching Principle (expense recognition) - correct answer Prescribes that a company must record its expenses incurred to generate the revenue Full disclosure principle - correct answer Requires a company to report the details behind financ...

Acct 211 Quiz #1 questions with correct answers graded A+Measurement Principle - correct answer (also called the cost principle) means that accounting information is based on actual cost Revenue Recognition Principle - correct answer Provides guidance on when a company must recognize revenue Matching Principle (expense recognition) - correct answer Prescribes that a company must record its expenses incurred to generate the revenue Full disclosure principle - correct answer Requires a co...

BA109 Quiz 11 Questions With Correct AnswA business should provide the owner with a reasonable rate of return based upon: - ANSWER-the time and money invested in the business. An excessively high average payable period ratio indicates the possibility of the presence of a significant amount of past-due accounts payable. - ANSWER-True Cash requirements can be determined by dividing cash expenses by: - ANSWER-the average inventory turnover. Small businesses with high leverage ratios are mo...

BPI Quiz 1 Questions with All Correct Answers Define Field Status Variants - Answer You will copy and rename a Field Status Variant and its related Field Status Groups from Company Code US00. In a later step, you will associate this Field Status Variant (GL##) with your Company Code. Your Field Status Groups (Expense Account, Balance Sheet Account, etc.) guide the user experience during General Ledger document entry. (ex) the Field Status Group determines which fields are required, whic...

The election to itemize is appropriate when total itemized deductions are less than the standard deduction based on the taxpayer’s filing status. True False Rationale: The election to itemize is appropriate when total itemized deductions exceed the standard deduction based on the taxpayer’s filing status. Bill paid $2,500 of medical expenses for his daughter, Marie. Marie is married to John and they file a joint return. Bill can include the $2,500 of expenses when calculating his...

1. At a plant where car doors are manufactured, all of the following would be classified as direct labor except: a. Machinists. b. Assembly workers. c. Supervisor. d. Painters. ANSWER: c RATIONALE: Maintenance workers, while integral to the manufacturing process as they keep the machinery maintained, are not direct laborers because they do not actually add value to the product. Machinists, assembly workers and painters would all add value to the manufacture of a car door. ...

OMIS 351 Quiz 3 Latest Update with Certified Answers What does a fourth generation (4GL... highest level) software language do? Allows the user to specify the desired outcome, and the computer handles the rest (writes/produces the program). _____ refers to a precise set of instructions that tell the computer hardware what to do. Software The cost of producing an additional unit of a product is known as its: marginal cost. How many BYTES can a 1 GHz 32 bit chip process per second...

FINC Ch4 Smart Book Study Guide Quiz. Which of the following represent questions the financial manger would ask to evaluate investment decisions? (Do not confuse the investment decision with the financing decision) - CORRECT ANSWER How should profitability be measured? How profitable are investments relative to the cost of capital? XYZ Corporation's shares are selling for $50 a share and the number of shares currently outstanding is 1,000. XYZ's market capitalization is: - CORRECT AN...

FAC1601 Assignment 3 (COMPLETE ANSWERS) Semester 1 2024 (214921) - DUE 30 April 2024 ;100 % TRUSTED workings, explanations and solutions. For assistance call or W.h.a.t.s.a.p.p us on ...(.+.2.5.4.7.7.9.5.4.0.1.3.2)........... Question 1 Not yet answered Marked out of 3.00 QUIZ This information relates to questions 1 - 5 below: A profi table cattle feed production company, Tswelelopele Ltd, was incorporated with an authorised share capital of 900,000 NPV ordinary shares and 600,000 6.5% prefer...