This document provides a list of 50 multiple choice questions related to accounting principles and concepts. The questions cover topics such as accounting for debt, equity, investments, pensions, leases, income taxes, accounting changes and errors.
This document provides 60 multiple choice questions related to accounting topics including financial statements, inventory, long-term assets, intangibles, liabilities, and leases. The questions cover concepts such as cash, accounts receivable, bad debts, inventory costing methods, depreciation, amortization, current and long-term liabilities, contingencies, bonds, and lease accounting.
This document contains 60 multiple choice questions related to accounting topics such as financial statements, inventory valuation, long-lived assets, intangibles, contingencies, bonds, and leases. The questions cover concepts like cash, accounts receivable, inventory systems, depreciation methods, impairment of assets, contingencies, bonds, and types of leases.
This document discusses Sri Lanka Accounting Standard LKAS 20 on accounting for government grants and disclosure of government assistance. It defines key terms like government grants and assistance, and outlines the standard's scope. It provides guidance on recognizing and measuring government grants related to assets and income, and addresses non-monetary grants, repayment of grants, and special cases. The document aims to help understand and apply the requirements of LKAS 20.
This document provides an overview of IAS 20, which establishes the accounting requirements for government grants and disclosure of government assistance. It discusses how government grants should be recognized as income or deferred income depending on whether they are related to assets or income. It also covers repayment of grants if conditions are not met and disclosure requirements. The end of chapter practice problems provide examples of accounting for government grants and assistance related to assets, income, and contingencies.
This standard provides guidance on calculating and presenting earnings per share (EPS). It defines key terms like dilution, contingent shares, and potential ordinary shares.
The standard outlines how to calculate basic EPS by dividing profit attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding. It also provides guidance on adjusting profit for items like preference dividends.
For diluted EPS, profit is adjusted for the effects of all dilutive potential ordinary shares. The weighted average number of shares is increased by additional shares from converting dilutive potential ordinary shares. Dilutive potential shares are included in the calculation if their conversion would decrease EPS.
IAS 20 provides guidance on accounting for government grants and disclosure of government assistance. It outlines two approaches for presenting grants related to assets - either setting up the grant as deferred income or deducting the grant from the carrying amount of the asset. For grants related to income, the standard allows either presenting the grant as part of profit or loss separately from the related expense, or deducting the grant in reporting the expense. The standard also addresses recognition of government grants, non-monetary grants, repayment of grants and disclosure requirements.
SEP plans allow employers to make deductible contributions to traditional IRAs established for each eligible employee; contributions are discretionary but must be based on a written allocation formula and cannot exceed a certain percentage of compensation for each employee; SEP plans provide an easy way for small businesses to offer retirement benefits to employees.
This document provides 60 multiple choice questions related to accounting topics including financial statements, inventory, long-term assets, intangibles, liabilities, and leases. The questions cover concepts such as cash, accounts receivable, bad debts, inventory costing methods, depreciation, amortization, current and long-term liabilities, contingencies, bonds, and lease accounting.
This document contains 60 multiple choice questions related to accounting topics such as financial statements, inventory valuation, long-lived assets, intangibles, contingencies, bonds, and leases. The questions cover concepts like cash, accounts receivable, inventory systems, depreciation methods, impairment of assets, contingencies, bonds, and types of leases.
This document discusses Sri Lanka Accounting Standard LKAS 20 on accounting for government grants and disclosure of government assistance. It defines key terms like government grants and assistance, and outlines the standard's scope. It provides guidance on recognizing and measuring government grants related to assets and income, and addresses non-monetary grants, repayment of grants, and special cases. The document aims to help understand and apply the requirements of LKAS 20.
This document provides an overview of IAS 20, which establishes the accounting requirements for government grants and disclosure of government assistance. It discusses how government grants should be recognized as income or deferred income depending on whether they are related to assets or income. It also covers repayment of grants if conditions are not met and disclosure requirements. The end of chapter practice problems provide examples of accounting for government grants and assistance related to assets, income, and contingencies.
This standard provides guidance on calculating and presenting earnings per share (EPS). It defines key terms like dilution, contingent shares, and potential ordinary shares.
The standard outlines how to calculate basic EPS by dividing profit attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding. It also provides guidance on adjusting profit for items like preference dividends.
For diluted EPS, profit is adjusted for the effects of all dilutive potential ordinary shares. The weighted average number of shares is increased by additional shares from converting dilutive potential ordinary shares. Dilutive potential shares are included in the calculation if their conversion would decrease EPS.
IAS 20 provides guidance on accounting for government grants and disclosure of government assistance. It outlines two approaches for presenting grants related to assets - either setting up the grant as deferred income or deducting the grant from the carrying amount of the asset. For grants related to income, the standard allows either presenting the grant as part of profit or loss separately from the related expense, or deducting the grant in reporting the expense. The standard also addresses recognition of government grants, non-monetary grants, repayment of grants and disclosure requirements.
SEP plans allow employers to make deductible contributions to traditional IRAs established for each eligible employee; contributions are discretionary but must be based on a written allocation formula and cannot exceed a certain percentage of compensation for each employee; SEP plans provide an easy way for small businesses to offer retirement benefits to employees.
The document discusses accounting periods and methods for partnerships and S corporations. It states that a partnership's tax year must end on the tax year of the majority interest partners, or if no majority, the principal partners. If there is no majority or principal partners, the tax year that results in the least aggregate deferral of income is used. Exceptions allow other fiscal year ends if valid business purposes or section 444 elections are met. The document also discusses short tax years, accounting methods, and provisions that mitigate the effects of an arbitrary accounting period.
The document summarizes key aspects of partnership formation, operation, and taxation. It discusses how partnerships are formed on a tax-free basis when partners contribute capital. It outlines how partners take a substituted basis in their partnership interests. It also discusses exceptions to tax-free treatment and issues related to contributed property.
This document summarizes Leggett & Platt's significant accounting policies related to principles of consolidation, estimates, cash equivalents, accounts receivable, inventories, property, plant and equipment, goodwill and intangible assets, long-lived assets, stock-based compensation, sales recognition, shipping and handling fees, restructuring costs, income taxes, foreign currency translation, and new accounting standards. Key details include policies for inventory costing methods, depreciation of fixed assets, goodwill and intangible asset valuation and amortization, and accounting for income taxes.
Here are the key points regarding the presentation of noncontrolling interest in PT Digdaya's consolidated financial statements:
1. PT Digdaya owns 70% of PT Buana. Therefore, the noncontrolling interest represents the 30% that PT Digdaya does not own.
2. In the consolidated balance sheet, the noncontrolling interest should be presented as a separate component of equity, distinct from the equity attributable to the parent (PT Digdaya).
3. In the consolidated income statement, net income should be separated into "net income attributable to the parent" and "net income attributable to noncontrolling interest."
4. The net income attributable to noncontrolling interest represents 30% of
The document provides answers to questions about accounting for not-for-profit entities such as universities, hospitals, voluntary health and welfare organizations. It addresses topics such as how to account for tuition scholarships, restricted and unrestricted net assets, the accounting standards that apply to public vs. private universities, how to account for restricted contributions, donated services and equipment, and financial statement presentation for various types of not-for-profit organizations.
The journal entries recorded by the parent and subsidiary correctly account for the
direct sale of bonds from the parent to the subsidiary. No consolidation entries are required
since this is an intercompany transaction that does not affect consolidated net income or
equity.
8-9
Chapter 08 - Intercompany Indebtedness
E8-2 Bond Sale from Subsidiary to Parent
a. Journal entries recorded by Lamar Corporation:
January 1, 20X2
Cash
Loss on Bond Retirement
Bonds Payable
156,000
6,000
150,000
July 1, 20X2
Interest Expense
Cash
4,200
December 31, 20X2
This document discusses different methods for businesses to recover costs of acquiring assets over time through depreciation, amortization, and depletion. It explains concepts of basis and adjusted basis and outlines cost recovery methods for tangible personal property, real property, intangible assets, and natural resources. These include determining applicable recovery periods and calculation methods for depreciation allowances under MACRS and special rules like section 179 expensing. The document also provides amortization details for different types of intangible assets and outlines depletion calculation methods.
Bob and Carol paid different amounts of federal income tax even though they had identical incomes, deductions, and investments. Carol paid $15,000 more than Bob due to an oversight in the treatment of interest from private activity bonds they both owned. These bonds were issued in 2010 and interest from such bonds is not a tax preference item for the alternative minimum tax in that year. After reviewing the returns, Adam determined Carol was eligible for a $15,000 refund due to an error on her Form 6251 in treating the bond interest as a tax preference.
Dr. Payne correctly calculated the depreciation expense for his dental practice assets using MACRS depreciation rates. He will also be able to claim depreciation deductions for the rental properties he converted his original residence and purchased condo into, using the fair market value of the residence as its basis since it was previously used for personal purposes. The document provides an overview of depreciation, amortization, and depletion deductions for business and rental property assets, and examples and rules for calculating MACRS depreciation using conventions like half-year and mid-quarter.
The document discusses additional consolidation reporting issues including:
- Cash flows from operations cannot be easily incorporated into the existing three-part workpaper format because both beginning and ending consolidated balance sheet totals are needed to determine cash flows for the period.
- Dividends paid to noncontrolling shareholders are included in the consolidated cash flow statement but not the consolidated retained earnings statement.
- The indirect method of preparing the statement of cash flows focuses on reconciling net income to cash flows from operations, but does not report explicit payments to suppliers.
The document summarizes key details about corporations facing financial difficulty and bankruptcy procedures. It provides answers to questions about options for distressed companies, differences between Chapter 7 and Chapter 11 bankruptcy, requirements for involuntary bankruptcy petitions, typical components of reorganization plans, accounting for fresh start adjustments, financial reporting requirements, creditor priority in liquidations, and trustee responsibilities in Chapter 7 liquidations.
The document provides an overview of governmental fund accounting, including:
- The definition and purposes of different types of governmental funds such as general funds, special revenue funds, and capital projects funds.
- The key aspects of the modified accrual basis of accounting used by governmental funds, including how revenues and expenditures are recognized.
- How budgets are incorporated into governmental accounting through entries for estimated revenues and appropriations and how encumbrances are handled.
- The differences between interfund services/transfers and interfund loans and how they are reported.
- The emphasis governmental accounting places on classifying and tracking expenditures by function, activity, and object to ensure proper reporting and compliance.
This document provides answers to questions about governmental entities' special funds and government-wide financial statements. It discusses:
1. The differences between special revenue funds, capital projects funds, debt service funds, and internal service funds, including their purpose, accounting basis, and required financial statements.
2. The accounting for donations, capital assets, long-term debt, and component units in governmental fund statements versus government-wide statements.
3. Reconciliation requirements between governmental fund statements and government-wide statements. It also covers major funds determination and required supplementary information like budgetary comparisons.
The document is intended to help students understand specialized accounting topics for governmental and not-for-profit entities. It provides definitions
United Stationers Inc. provides a reconciliation of non-GAAP financial measures, specifically net capital spending. For 2005, net capital spending was $48.2 million, up from $13.4 million in 2004. This increase was primarily due to $16.9 million in capitalized software costs in 2005 compared to $3.7 million in 2004. Management believes presenting net capital spending internally and to readers provides a useful measure of investing activities that includes capitalized software costs.
This document discusses accounting for intercorporate investments and interests. It provides answers to questions about when to use the equity method vs cost method of accounting for investments, what constitutes significant influence, how to account for differences between the purchase price and book value of investments, how dividends are treated, and other topics related to intercorporate investments. Key points covered include how ownership levels, board representation, and other factors determine whether the equity method is appropriate. It also addresses adjustments needed when changing from one method to the other and accounting for joint ventures and other complex organizational structures.
The document provides questions and answers regarding segment and interim reporting requirements. It discusses how companies must determine reportable segments based on certain revenue, profit, and asset tests. It also outlines accounting treatments for revenue, expenses, taxes, and other items for interim financial statements. Companies must follow specific rules for disclosing segment information, foreign operations, significant customers, and accounting changes in interim reports.
This document summarizes the key aspects of IFRS 10 regarding consolidated financial statements. IFRS 10 establishes the principles for determining when an entity controls another entity and requires their financial statements to be consolidated. Control is defined as having power over an investee, exposure or rights to variable returns, and the ability to use power to affect returns. Control is determined based on relevant activities like operating and financing decisions that significantly impact returns. The consolidated financial statements combine like items from the parent and subsidiaries, eliminate intragroup balances and transactions, and apply uniform accounting policies. Non-controlling interests are presented separately in equity and net income is attributed to the parent and non-controlling interests.
This document contains 57 multiple choice questions from a FIN 571 final exam. It provides the questions without answers and directs students to a website to find the answers. The questions cover various topics in finance including capital budgeting, capital structure, stock valuation, and time value of money principles.
This short document promotes creating presentations using Haiku Deck, a tool for making slideshows. It encourages the reader to get started making their own Haiku Deck presentation and sharing it on SlideShare. In just one sentence, it pitches the idea of using Haiku Deck to easily create engaging slideshow presentations.
1. The document provides sample exam questions for ACC 434 final exams. It includes 25 multiple choice questions covering topics like activity-based costing, budgeting, cost allocation, transfer pricing, quality costs, and inventory costs.
2. The questions assess understanding of cost accounting concepts like indirect cost rates, budgeted cash payments, sunk costs, cost functions, life-cycle budgeting, sensitivity analysis, and inventory carrying costs.
3. Answers to the exam questions can be found by visiting the website provided. The questions cover a range of cost accounting topics tested on the ACC 434 final exam.
Dokumen tersebut menjelaskan berbagai kata tanya dalam bahasa Jepang beserta artinya dan contoh penggunaannya dalam kalimat. Terdapat kata tanya untuk 'apa', 'siapa', 'berapa', 'kapan', 'dimana', 'mengapa', dan 'bagaimana' disertai contoh kalimat dan terjemahan artinya. Semua kalimat tanya dalam bahasa Jepang diakhiri dengan partikel 'ka'.
1. Dokumen menanyakan tentang tag dan elemen dasar HTML. Termasuk pertanyaan tentang fungsi tag <head>, <body>, <title>, <h1-6>, <p>, <img>, <a>, <table>, <form>, dan lainnya.
2. Kebanyakan pertanyaan meminta untuk memilih jawaban yang paling tepat mengenai fungsi masing-masing tag dan elemen HTML.
3. Dokumen berisi soal pilihan ganda untuk mengetahui pengetahuan dasar tentang tag-tag strukt
The document discusses accounting periods and methods for partnerships and S corporations. It states that a partnership's tax year must end on the tax year of the majority interest partners, or if no majority, the principal partners. If there is no majority or principal partners, the tax year that results in the least aggregate deferral of income is used. Exceptions allow other fiscal year ends if valid business purposes or section 444 elections are met. The document also discusses short tax years, accounting methods, and provisions that mitigate the effects of an arbitrary accounting period.
The document summarizes key aspects of partnership formation, operation, and taxation. It discusses how partnerships are formed on a tax-free basis when partners contribute capital. It outlines how partners take a substituted basis in their partnership interests. It also discusses exceptions to tax-free treatment and issues related to contributed property.
This document summarizes Leggett & Platt's significant accounting policies related to principles of consolidation, estimates, cash equivalents, accounts receivable, inventories, property, plant and equipment, goodwill and intangible assets, long-lived assets, stock-based compensation, sales recognition, shipping and handling fees, restructuring costs, income taxes, foreign currency translation, and new accounting standards. Key details include policies for inventory costing methods, depreciation of fixed assets, goodwill and intangible asset valuation and amortization, and accounting for income taxes.
Here are the key points regarding the presentation of noncontrolling interest in PT Digdaya's consolidated financial statements:
1. PT Digdaya owns 70% of PT Buana. Therefore, the noncontrolling interest represents the 30% that PT Digdaya does not own.
2. In the consolidated balance sheet, the noncontrolling interest should be presented as a separate component of equity, distinct from the equity attributable to the parent (PT Digdaya).
3. In the consolidated income statement, net income should be separated into "net income attributable to the parent" and "net income attributable to noncontrolling interest."
4. The net income attributable to noncontrolling interest represents 30% of
The document provides answers to questions about accounting for not-for-profit entities such as universities, hospitals, voluntary health and welfare organizations. It addresses topics such as how to account for tuition scholarships, restricted and unrestricted net assets, the accounting standards that apply to public vs. private universities, how to account for restricted contributions, donated services and equipment, and financial statement presentation for various types of not-for-profit organizations.
The journal entries recorded by the parent and subsidiary correctly account for the
direct sale of bonds from the parent to the subsidiary. No consolidation entries are required
since this is an intercompany transaction that does not affect consolidated net income or
equity.
8-9
Chapter 08 - Intercompany Indebtedness
E8-2 Bond Sale from Subsidiary to Parent
a. Journal entries recorded by Lamar Corporation:
January 1, 20X2
Cash
Loss on Bond Retirement
Bonds Payable
156,000
6,000
150,000
July 1, 20X2
Interest Expense
Cash
4,200
December 31, 20X2
This document discusses different methods for businesses to recover costs of acquiring assets over time through depreciation, amortization, and depletion. It explains concepts of basis and adjusted basis and outlines cost recovery methods for tangible personal property, real property, intangible assets, and natural resources. These include determining applicable recovery periods and calculation methods for depreciation allowances under MACRS and special rules like section 179 expensing. The document also provides amortization details for different types of intangible assets and outlines depletion calculation methods.
Bob and Carol paid different amounts of federal income tax even though they had identical incomes, deductions, and investments. Carol paid $15,000 more than Bob due to an oversight in the treatment of interest from private activity bonds they both owned. These bonds were issued in 2010 and interest from such bonds is not a tax preference item for the alternative minimum tax in that year. After reviewing the returns, Adam determined Carol was eligible for a $15,000 refund due to an error on her Form 6251 in treating the bond interest as a tax preference.
Dr. Payne correctly calculated the depreciation expense for his dental practice assets using MACRS depreciation rates. He will also be able to claim depreciation deductions for the rental properties he converted his original residence and purchased condo into, using the fair market value of the residence as its basis since it was previously used for personal purposes. The document provides an overview of depreciation, amortization, and depletion deductions for business and rental property assets, and examples and rules for calculating MACRS depreciation using conventions like half-year and mid-quarter.
The document discusses additional consolidation reporting issues including:
- Cash flows from operations cannot be easily incorporated into the existing three-part workpaper format because both beginning and ending consolidated balance sheet totals are needed to determine cash flows for the period.
- Dividends paid to noncontrolling shareholders are included in the consolidated cash flow statement but not the consolidated retained earnings statement.
- The indirect method of preparing the statement of cash flows focuses on reconciling net income to cash flows from operations, but does not report explicit payments to suppliers.
The document summarizes key details about corporations facing financial difficulty and bankruptcy procedures. It provides answers to questions about options for distressed companies, differences between Chapter 7 and Chapter 11 bankruptcy, requirements for involuntary bankruptcy petitions, typical components of reorganization plans, accounting for fresh start adjustments, financial reporting requirements, creditor priority in liquidations, and trustee responsibilities in Chapter 7 liquidations.
The document provides an overview of governmental fund accounting, including:
- The definition and purposes of different types of governmental funds such as general funds, special revenue funds, and capital projects funds.
- The key aspects of the modified accrual basis of accounting used by governmental funds, including how revenues and expenditures are recognized.
- How budgets are incorporated into governmental accounting through entries for estimated revenues and appropriations and how encumbrances are handled.
- The differences between interfund services/transfers and interfund loans and how they are reported.
- The emphasis governmental accounting places on classifying and tracking expenditures by function, activity, and object to ensure proper reporting and compliance.
This document provides answers to questions about governmental entities' special funds and government-wide financial statements. It discusses:
1. The differences between special revenue funds, capital projects funds, debt service funds, and internal service funds, including their purpose, accounting basis, and required financial statements.
2. The accounting for donations, capital assets, long-term debt, and component units in governmental fund statements versus government-wide statements.
3. Reconciliation requirements between governmental fund statements and government-wide statements. It also covers major funds determination and required supplementary information like budgetary comparisons.
The document is intended to help students understand specialized accounting topics for governmental and not-for-profit entities. It provides definitions
United Stationers Inc. provides a reconciliation of non-GAAP financial measures, specifically net capital spending. For 2005, net capital spending was $48.2 million, up from $13.4 million in 2004. This increase was primarily due to $16.9 million in capitalized software costs in 2005 compared to $3.7 million in 2004. Management believes presenting net capital spending internally and to readers provides a useful measure of investing activities that includes capitalized software costs.
This document discusses accounting for intercorporate investments and interests. It provides answers to questions about when to use the equity method vs cost method of accounting for investments, what constitutes significant influence, how to account for differences between the purchase price and book value of investments, how dividends are treated, and other topics related to intercorporate investments. Key points covered include how ownership levels, board representation, and other factors determine whether the equity method is appropriate. It also addresses adjustments needed when changing from one method to the other and accounting for joint ventures and other complex organizational structures.
The document provides questions and answers regarding segment and interim reporting requirements. It discusses how companies must determine reportable segments based on certain revenue, profit, and asset tests. It also outlines accounting treatments for revenue, expenses, taxes, and other items for interim financial statements. Companies must follow specific rules for disclosing segment information, foreign operations, significant customers, and accounting changes in interim reports.
This document summarizes the key aspects of IFRS 10 regarding consolidated financial statements. IFRS 10 establishes the principles for determining when an entity controls another entity and requires their financial statements to be consolidated. Control is defined as having power over an investee, exposure or rights to variable returns, and the ability to use power to affect returns. Control is determined based on relevant activities like operating and financing decisions that significantly impact returns. The consolidated financial statements combine like items from the parent and subsidiaries, eliminate intragroup balances and transactions, and apply uniform accounting policies. Non-controlling interests are presented separately in equity and net income is attributed to the parent and non-controlling interests.
This document contains 57 multiple choice questions from a FIN 571 final exam. It provides the questions without answers and directs students to a website to find the answers. The questions cover various topics in finance including capital budgeting, capital structure, stock valuation, and time value of money principles.
This short document promotes creating presentations using Haiku Deck, a tool for making slideshows. It encourages the reader to get started making their own Haiku Deck presentation and sharing it on SlideShare. In just one sentence, it pitches the idea of using Haiku Deck to easily create engaging slideshow presentations.
1. The document provides sample exam questions for ACC 434 final exams. It includes 25 multiple choice questions covering topics like activity-based costing, budgeting, cost allocation, transfer pricing, quality costs, and inventory costs.
2. The questions assess understanding of cost accounting concepts like indirect cost rates, budgeted cash payments, sunk costs, cost functions, life-cycle budgeting, sensitivity analysis, and inventory carrying costs.
3. Answers to the exam questions can be found by visiting the website provided. The questions cover a range of cost accounting topics tested on the ACC 434 final exam.
Dokumen tersebut menjelaskan berbagai kata tanya dalam bahasa Jepang beserta artinya dan contoh penggunaannya dalam kalimat. Terdapat kata tanya untuk 'apa', 'siapa', 'berapa', 'kapan', 'dimana', 'mengapa', dan 'bagaimana' disertai contoh kalimat dan terjemahan artinya. Semua kalimat tanya dalam bahasa Jepang diakhiri dengan partikel 'ka'.
1. Dokumen menanyakan tentang tag dan elemen dasar HTML. Termasuk pertanyaan tentang fungsi tag <head>, <body>, <title>, <h1-6>, <p>, <img>, <a>, <table>, <form>, dan lainnya.
2. Kebanyakan pertanyaan meminta untuk memilih jawaban yang paling tepat mengenai fungsi masing-masing tag dan elemen HTML.
3. Dokumen berisi soal pilihan ganda untuk mengetahui pengetahuan dasar tentang tag-tag strukt
This document provides 30 multiple choice questions that appear to be from a final exam on accounting topics. The questions cover a range of concepts including recording bad debts expense, accounting for intangible assets, accounting for notes payable, accounting for bonds payable, accounting for stockholders equity, preparing financial statements, and internal controls.
This document provides 100 multiple choice questions related to business, economics, finance, accounting, statistics, and law. The questions cover topics such as financial accounting, managerial accounting, economics, statistics, management, marketing, finance, and business law. The document directs the reader to a website to obtain answers to the questions.
This document contains 73 multiple choice questions related to business, finance, economics and management. The questions cover a wide range of topics including managerial accounting, international trade, GDP, opportunity cost, quality management, entrepreneurship, statistics, information systems, capital budgeting, portfolio management, and net present value.
Breve exposición sobre insuficiencia ventilatoria nasal, tomada principalmente del libro: otorrinolaringología y afecciones conexas de Vicente Diamante
Customer Experience Myth Busting
“Customer Experience” is quickly becoming a catch-all to describe anything that is remotely related to customers. This presentation will bust some of the most commonly understood myths out there and set the record straight:
- Myth 1: Customer Experience is the same as Customer Service.
- Myth 2: It’s nice to do but it’s not going to impact the bottom line.
- Myth 3: It’s only relevant to retailers.
- Myth 4: You’re sorted if you have a customer experience department.
This document provides 30 multiple choice questions related to human resource management and organizational behavior topics such as stress management, diversity, compensation and benefits, career management, and organizational justice. The questions assess understanding of key concepts like indirect costs of stress, equal employment opportunity actions, discrimination, job analysis methods, recruitment and selection processes, and types of insurance plans.
Este documento resume las fracturas faciales y traumatismos nasales. Explica que los accidentes de tráfico son la causa más común de estas lesiones, y describe fracturas específicas como las de huesos nasales, senos frontales, órbitas y mandíbula. Detalla los síntomas, diagnóstico y tratamiento de diferentes tipos de fracturas, incluyendo reducción, fijación y manejo postoperatorio.
Dokumen tersebut membahas tentang kasih, terutama kasih Allah dan Yesus Kristus. Beberapa poin utama yang dibahas adalah definisi kasih sejati menurut Alkitab, kasih Allah yang tanpa syarat, dan pengorbanan Yesus sebagai contoh kasih terbesar.
This document discusses financial instruments and provides learning objectives related to defining and accounting for various types of financial instruments including:
1. Defining financial assets and liabilities and outlining their initial recognition and measurement.
2. Discussing the classification and subsequent measurement of financial instruments at amortized cost, fair value through other comprehensive income (FVTOCI), and fair value through profit or loss (FVTPL).
3. Distinguishing between debt and equity instruments and outlining the accounting for convertible debt instruments using the split accounting method.
The document appears to be a practice exam for an accounting course (ACC 423) covering various topics related to accounting for debt, equity, earnings per share, investments, and other accounting issues. It contains 24 multiple choice questions testing understanding of accounting treatments for issues like convertible debt, preferred stock conversions, treasury stock, diluted earnings per share, stock dividends, investments, and more. The exam provides answers that can be downloaded separately.
The document appears to be a practice exam for an accounting course (ACC 423) covering various topics related to accounting for debt, equity, earnings per share, investments, and other accounting issues. It contains 24 multiple choice questions testing understanding of accounting treatments for issues like convertible debt, preferred stock conversions, treasury stock, diluted earnings per share, stock dividends, investments, and more. The exam provides answers that can be downloaded separately.
The document appears to be a practice exam for an accounting course (ACC 423) final exam. It contains 30 multiple choice questions covering various accounting topics like accounting for debt, equity, earnings per share, investments, pensions, income taxes, and financial instruments. The questions test understanding of accounting principles for different transactions and financial statement elements.
This document provides the questions and answers to an ACC 291 final exam. It includes 30 multiple choice questions covering various accounting topics like recording bad debts expense, amortizing bond premiums and discounts, accounting for stock transactions, analyzing financial statements, and requirements of the Sarbanes-Oxley Act regarding internal controls.
FINANCE –EXAM 31. The Hasting Company began operations on Januar.docxvoversbyobersby
FINANCE –EXAM 3
1. The Hasting Company began operations on January 1, 2003 and uses the FIFO method in costing its raw material inventory. An analyst is wondering what net income would have been if the company had consistently followed LIFO (instead of FIFO) from the beginning, 1/1/2003. He has the following information available to him:
What would net income have been in 2004 if Hastings had used LIFO since 1/1/2003?
Top of Form
$ 110,000
$ 150,000
$ 170,000
$ 230,000
2. A customer is currently suing a company. A reasonable estimate can be made of the costs that would result from a ruling unfavorable to the company, and the amount involved is material. The company's managers, lawyers, and auditors agree that there is only a remote likelihood of an unfavorable ruling. This contingency:
Top of Form
Should be disclosed in a footnote.
Should be disclosed as a parenthetical comment in the balance sheet.
Need not to be disclosed.
Should be disclosed by an appropriation of retained earnings.
3. The ABC Company operates a catering service specializing in business luncheons for large corporations. ABC requires customers to place their orders 2 weeks in advance of the scheduled events. ABC bills its customers on the tenth day of the month following the date of service and requires that payment be made within 30 days of the billing date. Collections from customers have never been an issue in the past. ABC should recognize revenue from its catering services at the date when a:
Top of Form
Customer places an order.
Luncheon is served.
Billing is mailed.
Customer's payment is received.
4. On June 30, 2001, Cole Inc., exchanged 3,000 shares of Stone Corp. $30 par value common stock for a patent owned by Gore Co.. The Stone stock was acquired in 1999 at a cost of $80,000. At the exchange date, Stone common stock had a fair value of $45 per share, and the patent had a net carrying value of $160,000 on Gore's books. Cole should record the patent at:
Top of Form
$80,000
$90,000
$135,000
$160,000
5. On June 30, 2001, Cole Inc., exchanged 3,000 shares of Stone Corp. $30 par value common stock for a patent owned by Gore Co.. The Stone stock was acquired in 1999 at a cost of $80,000. At the exchange date, Stone common stock had a fair value of $45 per share, and the patent had a net carrying value of $160,000 on Gore's books. Cole should record the patent at:
Top of Form
$80,000
$90,000
$135,000
$160,000
6. On January 1, 1997, Phillips, Inc. leased a new machine from U.S. Leasing. The specific information on the lease is as follows:
On January 1, 1997, Phillips, Inc. should record a lease liability of:
Top of Form
$275,000
$359,464
$0
$250,000
7. FRC Inc. acquired Marketing Inc on 1/1/2004. Marketing Inc. has 10,000 shares outstanding. Each share in Marketing Inc. was exchanged for half a share in FRC, Inc. Shares of FRC Inc., were trading at $100 per share at the date of the announcement of the transaction. Marketing Inc, had the following ass ...
Acc 290 final exam16.docx.given the following adjusted trial balanceMishi Linkon
This document provides a list of 29 multiple choice questions related to accounting concepts such as financial statements, inventory costing methods, internal controls, and Sarbanes-Oxley Act. It directs the reader to click a link to access answers to the questions and guarantees an A+ on a tutorial if the answers are used. Key topics covered include the statement of cash flows, inventory valuation, cost of goods sold, internal controls, and regulatory compliance.
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This document provides a list of 29 multiple choice questions related to accounting concepts such as financial statements, inventory costing methods, internal controls, and Sarbanes-Oxley. It directs the reader to an external link to find the answers to the questions. The questions cover topics like determining cash from operations, inventory valuation methods, cost of goods sold calculations, and internal control responsibilities.
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This document provides a list of 29 multiple choice questions related to accounting concepts such as financial statements, inventory costing methods, internal controls, and Sarbanes-Oxley. It directs the reader to an external link to find the answers to the questions. The questions cover topics like determining cash from operations, inventory valuation methods, cost of goods sold calculations, and internal control responsibilities.
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This document provides a list of 29 multiple choice questions related to accounting concepts such as financial statements, inventory costing methods, internal controls, and Sarbanes-Oxley Act. It directs the reader to an external link to find the answers to the questions. The questions cover topics like determining cash from operations, inventory valuation methods, cost of goods sold, and internal control responsibilities.
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This document provides a list of 29 multiple choice questions related to accounting concepts such as financial statements, inventory costing methods, internal controls, and Sarbanes-Oxley. It directs the reader to an external link to find the answers to the questions. The questions cover topics like determining cash from operations, inventory valuation methods, cost of goods sold calculations, and internal control responsibilities.
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This document provides a list of 29 multiple choice questions related to accounting concepts such as financial statements, inventory costing methods, internal controls, and Sarbanes-Oxley Act. It directs the reader to click a link to access answers to the questions and guarantees an A+ on a tutorial if the answers are used. Key topics covered include the statement of cash flows, inventory valuation, cost of goods sold, internal controls, and regulatory compliance.
This document provides the questions and answers to an ACC 545 final exam. It includes 25 multiple choice questions covering topics like accounting changes, deferred taxes, financial statements, inventory, and long-term investments. The questions test understanding of accounting principles for events such as changes in depreciation methods and accounting methods, classification of assets and liabilities, and preparation of financial statements.
This document contains 30 multiple choice questions about accounting concepts and principles including: the accounting process, bookkeeping vs accounting, generally accepted accounting principles (GAAP), the four primary financial statements, adjusting entries, closing entries, internal controls, and international accounting standards. It provides an overview of fundamental accounting topics that would be covered in an introductory financial accounting course.
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Finance deals with the transfer of money between individuals, businesses, and governments through institutions, markets, and instruments. A firm's president or CEO is elected by stockholders and guides corporate affairs and policies. Finance can be defined as the management of large amounts of money, especially by governments or large companies. Risk is the chance of loss or variability of returns associated with an asset.
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Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
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Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
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1. ACC 423 FINAL EXAMS
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1) When convertible debt is retired by the issuer, any material difference between the cash
acquisition price and the carrying amount of the debt should be
2) The conversion of preferred stock may be recorded by the
3) The conversion of preferred stock into common stock requires that any excess of the par value
of the common shares issued over the carrying amount of the preferred being converted should
be
4) The accounting problem in a lump sum issuance is the allocation of proceeds between the
classes of securities. An acceptable method of allocation is the
5) When a corporation issues its capital stock in payment for services, the least appropriate basis
for recording the transaction is the
6) Total stockholders' equity represents
7) When treasury stock is purchased for more than the par value of the stock and the cost method
is used to account for treasury stock, what account(s) should be debited?
8) “Gains" on sales of treasury stock (using the cost method) should be credited to
9) Wilson Corp. purchased its own par value stock on January 1, 2007 for $20,000 and debited
the treasury stock account for the purchase price. The stock was subsequently sold for $12,000.
The $8,000 difference between the cost and sales price should be recorded as a deduction from
10) When computing diluted earnings per share, convertible bonds are
11) In computations of weighted average of shares outstanding, when a stock dividend or stock
split occurs, the additional shares are
12) In the diluted earnings per share computation, the treasury stock method is used for options
and warrants to reflect assumed reacquisition of common stock at the average market price
during the period. If the exercise price of the options or warrants exceeds the average market
price, the computation would
2. 13) On December 31, 2006, the stockholders' equity section of Clark, Inc., was as follows:
Common stock, par value $10; authorized 30,000 shares.
14) At its date of incorporation, Wilson, Inc. issued 100,000 shares of its $10 par common stock
at $11 per share. During the current year, Wilson acquired 20,000 shares of its common stock at
a price of $16 per share and accounted for them by the cost method. Subsequently, these shares
were reissued at a price of $12 per share. There have been no other issuances or acquisitions of
its own common stock. What effect does the reissuance of the stock have on the following
accounts?
15) Palmer Corp. owned 20,000 shares of Dixon Corp. purchased in 2003 for $240,000. On
December 15, 2006, Palmer declared a property dividend of all of its Dixon Corp. shares on the
basis of one share of Dixon for every 10 shares of Palmer common stock held by its
stockholders. The property dividend was distributed on January 15, 2007. On the declaration
date, the aggregate market price of the Dixon shares held by Palmer was $400,000. The entry to
record the declaration of the dividend would include a debit to Retained Earnings of
16) An unrealized holding loss on a company's available-for-sale securities should be reflected in
the current financial statements as
17) When investments in debt securities are purchased between interest payment dates,
preferably the
18) A reclassification adjustment is reported in the
19) Which of the following is NOT a debt security?
20) When an investor's accounting period ends on a date that does NOT coincide with an interest
receipt date for bonds held as an investment, the investor must
21) Pippen Co. purchased ten-year, 10% bonds that pay interest semiannually. The bonds are
sold to yield 8%. One step in calculating the issue price of the bonds is to multiply the principal
by the table value for
22) Byner Corporation accounts for its investment in the common stock of Yount Company
under the equity method. Byner Corporation should ordinarily record a cash dividend received
from Yount as
23) When a company holds between 20% and 50% of the outstanding stock of an investee,
which of the following statements applies?
24) Bista Corporation declares and distributes a cash dividend that is a result of current earnings.
How will the receipt of those dividends affect the investment account of the investor under each
of the following accounting methods? Fair Value Method | Equity Method
3. 25) Held-to-maturity securities are reported at
26) Debt securities acquired by a corporation which are accounted for by recognizing unrealized
holding gains or losses and are included as other comprehensive income and as a separate
component of stockholders' equity are
27) Use of the effective-interest method in amortizing bond premiums and discounts results in
28) All of the following are requirements for disclosures related to financial instruments
EXCEPT
29) The accounting for fair value hedges records the derivative at its
30) All of the following statements regarding accounting for derivatives are correct EXCEPT
that
31) Taxable income of a corporation differs from pre-tax financial income because of
Permanent Differences | Temporary Differences
32) Which of the following situations would require interperiod income tax allocation
procedures?
33) The rationale for interperiod income tax allocation is to
34) A major distinction between temporary and permanent differences is
35) Which of the following are temporary differences that are normally classified as expenses or
losses that are deductible after they are recognized in financial income?
36) Which of the following is a temporary difference classified as a revenue or gain that is
taxable after it is recognized in financial income?
37) In a defined-contribution plan, a formula is used that
38) Which of the following is NOT a characteristic of a defined-contribution pension plan?
39) In a defined-benefit plan, the process of funding refers to
40) The relationship between the amount funded and the amount reported for pension expense is
as follows:
41) The accumulated benefit obligation measures
4. 42) A corporation has a defined-benefit plan. An accrued pension cost will result at the end of
the first year if the
43) On January 1, 2008, Pratt Corp. adopted a defined-benefit pension plan. The plan's service
cost of $300,000 was fully funded at the end of 2008. Prior service cost was funded by a
contribution of $120,000 in 2008. Amortization of prior service cost was $48,000 for 2008. What
is the amount of Pratt’s prepaid pension cost at December 31, 2008?
44) Yeager Co. maintains a defined-benefit pension plan for its employees. At each balance sheet
date, Yeager should report a minimum liability at least equal to the
45) Reser Corp., a company whose stock is publicly traded, provides a non-contributory defined-
benefit pension plan for its employees. The company's actuary has provided the following
information for the year ended December 31, 2008:
46) On January 1, 2005, Foley Corporation acquired machinery at a cost of $250,000. Foley
adopted the double-declining balance method of depreciation for this machinery and had been
recording depreciation over an estimated useful life of ten years, with no residual value. At the
beginning of 2008, a decision was made to change to the straight-line method of depreciation for
the machinery. The depreciation expense to be recorded for the machinery in 2008 is (round to
the nearest dollar)
47) Accrued salaries payable of $51,000 were NOT recorded at December 31, 2007. Office
supplies on hand of $24,000 at December 31, 2008 were erroneously treated as expense instead
of supplies inventory. Neither of these errors was discovered nor corrected. The effect of these
two errors would cause
48) On January 1, 2005, Lynn Corporation acquired equipment at a cost of $600,000. Lynn
adopted the double-declining balance method of depreciation for this equipment and had been
recording depreciation over an estimated life of eight years, with no residual value. At the
beginning of 2008, a decision was made to change to the straight-line method of depreciation for
this equipment. Assuming a 30% tax rate, the cumulative effect of this accounting change on
beginning retained earnings, net of tax, is
49) Equipment was purchased at the beginning of 2005 for $204,000. At the time of its purchase,
the equipment was estimated to have a useful life of six years and a salvage value of $24,000.
The equipment was depreciated using the straight-line method of depreciation through 2008. At
the beginning of 2008, the estimate of useful life was revised to a total life of eight years and the
expected salvage value was changed to $15,000. The amount to be recorded for depreciation for
2008, reflecting these changes in estimates, is
50) Which type of accounting change should always be accounted for in current and future
periods?
5. 51) When a company decides to switch from the double-declining balance method to the
straight-line method, this change should be handled as a