This document contains 12 multiple choice questions from an accounting course. It covers topics like the classification and accounting for intangible assets, accounting for business combinations, accrual of liabilities, accounting for sales taxes, and accounting for bonds payable. For each question, it shows the student's answer, whether it was correct or not, and a brief explanation from the instructor.
Strayer university acc 304 week 9 chapter 13 and chapter 14 quiz (all possibl...shyaminfotech
ACC 304 Week 9 Quiz – Strayer NEW
Week 9 Quiz 5: Chapter 13, Quiz 6: Chapter 14
CURRENT LIABILITIES AND CONTINGENCIES
IFRS questions are available at the end of this chapter.
TRUE-FALSE—Conceptual
1. A zero-interest-bearing note payable that is issued at a discount will not result in any interest expense being recognized.
Intermediate Accounting Volume 2 Canadian 11th Edition Kieso Test BankBentonner
Full download : https://alibabadownload.com/product/intermediate-accounting-volume-2-canadian-11th-edition-kieso-test-bank/ Intermediate Accounting Volume 2 Canadian 11th Edition Kieso Test Bank
click on the link, you will find what you were looking for:homeworkmye.com
Customer support is very important to us. Please use our online chat system in case you have any questions. Also, you can email them to us at homeworkmye@gmail.com. We will do our best to answer you!
Strayer university acc 304 week 9 chapter 13 and chapter 14 quiz (all possibl...shyaminfotech
ACC 304 Week 9 Quiz – Strayer NEW
Week 9 Quiz 5: Chapter 13, Quiz 6: Chapter 14
CURRENT LIABILITIES AND CONTINGENCIES
IFRS questions are available at the end of this chapter.
TRUE-FALSE—Conceptual
1. A zero-interest-bearing note payable that is issued at a discount will not result in any interest expense being recognized.
Intermediate Accounting Volume 2 Canadian 11th Edition Kieso Test BankBentonner
Full download : https://alibabadownload.com/product/intermediate-accounting-volume-2-canadian-11th-edition-kieso-test-bank/ Intermediate Accounting Volume 2 Canadian 11th Edition Kieso Test Bank
click on the link, you will find what you were looking for:homeworkmye.com
Customer support is very important to us. Please use our online chat system in case you have any questions. Also, you can email them to us at homeworkmye@gmail.com. We will do our best to answer you!
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
“ help.mbaassignments@gmail.com ”
or
Call us at : 08263069601
!#$&$()#+,(!1. Question Which of the following isar.docxkatherncarlyle
!"#$%&$'()*#+,(
!
1. Question : Which of the following is/are true?
I. Asset management ratio indicates how effectively a firm
generates profits on sales, assets and stockholder’s equity.
II. Liquidity ratios indicate the firm’s capacity to meet its
short-term financial obligations, but not its long-term
financial obligations.
III. Profitability ratios indicate how efficiently a firm is using
its assets to generate sales.
IV. Financial leverage ratios indicate the firm’s capacity to
meet its financial obligations, both short-term and long-term.
Student Answer:
II and IV
I and II
I, II, and IV
I and III
Question 2. Question : Which of the following is/are true?
I. When a loan is amortized over a five year term, the amount
of interest paid is decreased each year.
II. The effective annual rate of interest will always be equal
to or less than the nominal annual rate of interest.
III. An annuity due is the annuity in which the payments or
receipts occur at the beginning of each period.
IV. If the present value of a given sum is equal to its future
value, then the discount rate must be zero.
Student Answer:
IV only
III & IV
II, III & IV
I, III & IV
Question 3. Question : If a firm’s current ratio is 3.0,
Student Answer:
it is possible for its quick ratio to be larger than 3.0.
its current liabilities exceed its current assets.
it is possible for its quick ratio to be smaller than 3.0.
its current liabilities equal its current assets.
Ch 3
Ch 5
Ch 3
Question 4. Question : Which of the following is/are true?
I. The shareholder wealth maximization goal states that
management should seek to maximize the present value of
the expected future returns to the owners of the firm.
II. The primary reason for the agency problem between the
stockholders and managers is because of the separation of
ownership and management.
III. Protective covenants in a company's bond indentures are
used in agency relationships involving stockholders and
creditors.
IV. The fact that no investor can expect to earn excess
returns based on an investment strategy using only historical
stock price or return information is an example of
semistrong-form market efficiency.
Student Answer:
I and IV
I, II and IV
I, II and III
All of the above
Question 5. Question : If you’re a financial manager of a MNC (U.S. based) and you
anticipate that your company will need to pay C$2 million 6
months later. If you would like to make use of either forward
or futures or options contracts to fix your exchange rate
today, what is your strategy?
Student Answer:
BUY forward/futures contracts for C$2 million or BUY
call options for C$2 million.
SELL forward/futures contracts for C$2 million or BUY
call options for C$2 million.
BUY forward/futures contracts for C$2 million or ...
Compare and contrast design guidelines for a standing operator.docxmonicafrancis71118
Compare and contrast design guidelines for a standing operator and those for a sitting operator; include types of work and working height. In addition, discuss the elements of an ergonomic chair.
Please see attached files and use information from them, use the following for reference:
Bush, P. M. (2012). Ergonomics: Foundational principles, applications, and technologies. Boca Raton, FL: CRC Press.
Minimum 200 words
APA Style Format
At least one in text citation
Citation must have a reference
From: yasser 7337 [email protected]
Subject:
Date: July 14, 2015 at 7:14 AM
To: [email protected]
Assume a portion of a firm's long-term funds includes either debt or preferred stock. Which of the following statements is correct?
a. The firm must possess operating leverage, which means that a change in net income will result in a greater percentage change in earnings before interest and taxes (EBIT).
b. The firm has financial leverage, which means that a change in sales will result in a greater percentage change in EBIT.
c. The firm has financial leverage, which means that a change in EBIT will result in a greater percentage change in earnings per share (EPS).
d. The firm doesn't have leverage, because leverage is created through the use of common equity financing only.
e. None of the above is a correct answer.
QUEST ION)
1
2)points))) Save)AnswerSave)Answer
The portion of the firm's earnings that has been reinvested in the firm rather than paid out in dividends is called
a. net income.
b. retained earnings.
c. reinvestment return.
d. DRIP.
e. gross margin.
QUEST ION)
2
2)points))) Save)AnswerSave)Answer
Tara is evaluating two mutually exclusive capital budgeting projects that have the following characteristics:
Cash Flows
Year Project Q Project R
0 $(4,000) $(4,000)
1 0 3,500
2 5,000 1,100
IRR 11.8% 12.0%
If the firm's required rate of return (r) is 10 percent, which project should be purchased?
a. Both projects should be purchased, because the IRRs for both projects exceed the firm's required rate of return.
b. Neither project should be accepted, because the IRRs for both projects exceed the firm's required rate of return.
c. Project Q should be accepted, because its net present value (NPV) is higher than Project R's NPV.
d. Project R should be accepted, because its net present value (NPV) is higher than Project Q's NPV.
e. None of the above is a correct answer.
QUEST ION)
3
2)points))) Save)AnswerSave)Answer
You have recently been hired to improve the performance of Multiplex Corporation which has been experiencing a severe cash shortage. As one part of your analysis, you want to
determine the firm's cash conversion cycle. Using the following information and a 360-day year, what is your estimate of the firm's current cash conversion cycle?
Current inventory = $120,000
Annual sales = $600,000
Accounts receivable = $160,000
QUEST ION)
4
9)points))) Save)AnswerSave)Answer
2)points))) Sav.
BUS 401 Week 1 DQ 2 Cash Flow and Ratio Analysis.docx
BUS 401 Week 1 Quiz.docx
BUS 401 Week 2 DQ 1 Annuity and Capital Asset Pricing.docx
BUS 401 Week 2 DQ 2 Bonds and Common Stock.docx
BUS 401 Week 2 Quiz.docx
BUS 401 Week 3 DQ 1 NPV, PI, and IRR.docx
BUS 401 Week 3 DQ 2 Cost of Debt.docx
BUS 401 Week 3 Quiz.docx
BUS 401 Week 4 DQ 1 Leverage.docx
BUS 401 Week 4 DQ 2 Dividend Policies.docx
BUS 401 Week 4 Quiz.docx
DQ 2
Cash Flow and Ratio Analysis
From Chapters 3 and 4 complete Study Problems 3-2 (page 85) and 4-2 (page 122) and post the answers to the discussion board. Remember to complete all parts of the problems and report the results of your analysis. Do not forget to show the necessary steps and explain how your attained that outcome. Respond to at least two of your classmates’ postings.
Bonds and Common Stock
From Chapters 7 and 8 complete Study Problems 7-8 (pages 224-225) and 8-16 (page 253) and post the answers to the discussion board. Remember to complete all parts of the problems and report the results of your analysis. Do not forget to show the necessary steps and explain how your attained that outcome. Respond to at least two of your classmates’ postings.
7-8. (Bond valuation) ExxonMobil 20-year bonds pay 9 percent interest annually on a $1,000 par value. If bonds sell at $945, what is the bonds’ expected rate of return?
Annual interest: $90
Annual amortization of purchase discount: $55/20yrs. = $2.75
Total annual return: $92.75
Annual Yield: 92.75/945 = 9.788%
8-16. (Common stock valuation) The common stock of NCP paid $1.32 in dividends last year. Dividends are expected to grow at an 8 percent annual rate for an indefinite number of years.
For more course tutorials visit
www.newtonhelp.com
This Tutorial contains 2 Different Course Project
ACCT 551 Course Project (Notes to Financial Statement)
1. Page: 1 2
1. Question : (TCO C) Under current accounting practice, intangible assets are
classified as
Student Answer:
amortizable or unamortizable.
limited-life or indefinite-life.
specifically identifiable or goodwill-type.
legally restricted or goodwill-type.
Instructor Explanation: Chapter 12
Points Received: 5 of 5
Comments:
2. Question : (TCO C) Which of the following intangible assets should not be
amortized?
Student Answer:
Copyrights
Customer lists
Perpetual franchises
All of these intangible assets should be amortized.
Instructor Explanation: Chapter 12
Points Received: 0 of 5
Comments:
3. Question : (TCO C) The intangible asset goodwill may be
Student Answer:
capitalized only when purchased.
capitalized either when purchased or created internally.
capitalized only when created internally.
written off directly to retained earnings.
Instructor Explanation: Chapter 12
2. Points Received: 5 of 5
Comments:
4. Question : (TCO C) ELO Corporation purchased a patent for $90,000 on
September 1, 2008. It had a useful life of ten years. On January 1,
2010, ELO spent $22,000 to successfully defend the patent in a
lawsuit. ELO feels that as of that date, the remaining useful life is five
years. What amount should be reported for patent amortization
expense for 2010?
Student Answer:
$20,600.
$20,000.
$18,800.
$15,600.
Instructor Chapter 12. $90,000 – [($90,000 ÷ 10) × 1 1/3] = $78,000.
Explanation: ($78,000 + $22,000) ÷ 5 = $20,000.
Points Received: 5 of 5
Comments:
5. Question : (TCO C) During 2011, Bond Company purchased the net assets of May
Corporation for $1,000,000. On the date of the transaction, May had
$300,000 of liabilities. The fair value of May's assets when acquired
were as follows:
How should the $500,000 difference between the fair value of the net
assets acquired ($1,500,000) and the cost ($1,000,000) be accounted
for by Bond?
Student Answer:
The $500,000 difference should be credited to retained earnings.
The $500,000 difference should be recognized as a gain.
The current assets should be recorded at $540,000 and the
noncurrent assets should be recorded at $760,000.
A deferred credit of $500,000 should be set up and then amortized
to income over a period not to exceed forty years.
Instructor Explanation: Chapter 12. $1,500,000 – $1,000,000 = $500,000 gain.
3. Points Received: 5 of 5
Comments:
6. Question : (TCO D) Which of the following is a condition for accruing a liability for
the cost of compensation for future absences?
Student Answer:
The obligation relates to the rights that vest or accumulate.
Payment of the compensation is probable.
The obligation is attributable to employee services already
performed.
All of these are conditions for the accrual.
Instructor Explanation: Chapter 13
Points Received: 5 of 5
Comments:
7. Question : (TCO D) Under what conditions is an employer required to accrue a
liability for sick pay?
Student Answer:
Sick pay benefits can be reasonably estimated.
Sick pay benefits vest.
Sick pay benefits equal 100% of the pay.
Sick pay benefits accumulate.
Instructor Explanation: Chapter 13
Points Received: 0 of 5
Comments:
8. Question : (TCO D) Information available prior to the issuance of the financial
statements indicates that it is probable that, at the date of the financial
statements, a liability has been incurred for obligations related to
product warranties. The amount of the loss involved can be reasonably
estimated. Based on the above facts, an estimated loss contingency
should be
Student Answer:
accrued.
4. disclosed but not accrued.
neither accrued nor disclosed.
classified as an appropriation of retained earnings.
Instructor Explanation: Chapter 13
Points Received: 5 of 5
Comments:
9. Question : (TCO D) Stine Co. is a retail store operating in a state with a 6% retail
sales tax. The retailer may keep 2% of the sales tax collected. Stine
Co. records the sales tax in the Sales account. The amount recorded in
the Sales account during May was $148,400.
The amount of sales taxes (to the nearest dollar) for May is
Student Answer:
$8,726.
$8,400.
$8,904.
$9,438.
Instructor Chapter 13. S + .06S = $148,400, S = $140,000.
Explanation: $148,400 – $140,000 = $8,400.
Points Received: 5 of 5
Comments:
10. Question : (TCO D) Vargas Company has 35 employees who work eight-hour
days and are paid hourly. On January 1, 2009, the company began a
program of granting its employees ten days of paid vacation each year.
Vacation days earned in 2009 may first be taken on January 1, 2010.
Information relative to these employees is as follows:
Vargas has chosen to accrue the liability for compensated absences at
the current rates of pay in effect when the compensated time is earned.
What is the amount of the accrued liability for compensated absences
that should be reported at December 31, 2011?
5. Student Answer:
$94,920.
$90,720.
$79,800.
$95,760.
Instructor Chapter 13. ($28.50 × 8 × 10 × 35) + ($27.00 × 8 × 2 × 35) = $94,920.
Explanation:
Points Received: 5 of 5
Comments:
11. Question : (TCO D) Reich, Inc. issued bonds with a maturity amount of $200,000
and a maturity ten years from date of issue. If the bonds were issued at
a premium, this indicates that
Student Answer:
the effective yield or market rate of interest exceeded the stated
(nominal) rate.
the nominal rate of interest exceeded the market rate.
the market and nominal rates coincided.
no necessary relationship exists between the two rates.
Instructor Explanation: Chapter 14
Points Received: 5 of 5
Comments:
12. Question : (TCO D) The printing costs and legal fees associated with the issuance
of bonds should
Student Answer:
be expensed when incurred.
be reported as a deduction from the face amount of bonds
payable.
be accumulated in a deferred charge account and amortized over
the life of the bonds.
not be reported as an expense until the period the bonds mature
or are retired.
6. Instructor Explanation: Chapter 14
Points Received: 5 of 5
Comments:
13. Question : (TCO D) Feller Company issues $20,000,000 of ten-year, 9% bonds on
March 1, 2010 at 97 plus accrued interest. The bonds are dated
January 1, 2010, and pay interest on June 30 and December 31. What
is the total cash received on the issue date?
Student Answer:
$19,400,000
$20,450,000
$19,700,000
$19,100,000
Instructor Chapter 14. ($20,000,000 × .97) + ($1,800,000 × 2/12) = $19,700,000.
Explanation:
Points Received: 5 of 5
Comments:
14. Question : (TCO D) A company issues $20,000,000, 7.8%, 20-year bonds to yield
8% on January 1, 2010. Interest is paid on June 30 and December 31.
The proceeds from the bonds are $19,604,145. What is interest
expense for 2011, using straight-line amortization?
Student Answer:
$1,540,207
$1,560,000
$1,569,192
$1,579,793
Instructor Chapter 14.. ($20,000,000 × .078) + ($395,855 ÷ 20) = $1,579,793.
Explanation:
Points Received: 5 of 5
Comments:
15. Question : (TCO D) On January 1, Martinez Inc. issued $3,000,000, 11% bonds
7. for $3,195,000. The market rate of interest for these bonds is 10%.
Interest is payable annually on December 31. Martinez uses the
effective-interest method of amortizing bond premium. At the end of the
first year, Martinez should report unamortized bond premium of:
Student Answer:
$185,130
$184,500
$173,550
$165,000
Instructor Chapter 14.. ($3,000,000 × .11) – ($3,195,000 × .10) = $10,500
Explanation: ($3,195,000 – $3,000,000) – $10,500 = $184,500.
Points Received: 5 of 5
Comments:
Page: 1 2
* Times are displayed in (GMT-07:00) Mountain Time (US & Canada)