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[Show more]Which of the following is not a benefit associated with the FASB Conceptual Framework Project? 
a.	A conceptual framework should increase financial statement users' understanding of and confidence in financial reporting. 
b.	Practical problems should be more quickly solvable by reference to an ex...
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Add to cartWhich of the following is not a benefit associated with the FASB Conceptual Framework Project? 
a.	A conceptual framework should increase financial statement users' understanding of and confidence in financial reporting. 
b.	Practical problems should be more quickly solvable by reference to an ex...
The factor which determines whether or not goods should be included in a physical 
count of inventory is	 
a. physical possession	 
b. legal title	 	 
c. management's judgment	 
d. whether or not the purchase price has been paid - ANSWER B	 
 
If goods in transit are shipped FOB destination...
Preview 2 out of 12 pages
Add to cartThe factor which determines whether or not goods should be included in a physical 
count of inventory is	 
a. physical possession	 
b. legal title	 	 
c. management's judgment	 
d. whether or not the purchase price has been paid - ANSWER B	 
 
If goods in transit are shipped FOB destination...
21. Which of the following is not a debt security? 
a. Convertible bonds	 r 
b. Commercial pape	 
c. Loans receivable	 	 
d. All of these are debt securities. - ANSWER C 
 
22. A correct valuation is 
a.	available-for-sale at amortized cost. 
b.	held-to-maturity at amortized cost. 
c.	h...
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Add to cart21. Which of the following is not a debt security? 
a. Convertible bonds	 r 
b. Commercial pape	 
c. Loans receivable	 	 
d. All of these are debt securities. - ANSWER C 
 
22. A correct valuation is 
a.	available-for-sale at amortized cost. 
b.	held-to-maturity at amortized cost. 
c.	h...
Which of the following users is not considered an internal user of accounting information? A. An employee 
B.	A small business owner 
C.	A manager 
D.	A supplier - ANSWER D 
 
Which of the following users is not considered an external user of accounting information? A. The government 
B.	A cr...
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Add to cartWhich of the following users is not considered an internal user of accounting information? A. An employee 
B.	A small business owner 
C.	A manager 
D.	A supplier - ANSWER D 
 
Which of the following users is not considered an external user of accounting information? A. The government 
B.	A cr...
Select the true statement: 
 
a.	As volume increases fixed cost per unit remains constant. 
 
b.	As volume increases variable cost per unit increases. 
 
c.	As volume decreases fixed cost per unit increases. 
 
d. As volume increases variable cost per unit decreases. - ANSWER c. As volume ...
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Add to cartSelect the true statement: 
 
a.	As volume increases fixed cost per unit remains constant. 
 
b.	As volume increases variable cost per unit increases. 
 
c.	As volume decreases fixed cost per unit increases. 
 
d. As volume increases variable cost per unit decreases. - ANSWER c. As volume ...
The term "relevant range" as used in cost accounting means the range over which 
A. relevant costs are incurred.	 
 
B. costs may fluctuate.	 	 
C. cost relationships are valid.	 
D. production may vary. - ANSWER C	 
 
When cost relationships are linear, total variable prime costs will vary i...
Preview 2 out of 7 pages
Add to cartThe term "relevant range" as used in cost accounting means the range over which 
A. relevant costs are incurred.	 
 
B. costs may fluctuate.	 	 
C. cost relationships are valid.	 
D. production may vary. - ANSWER C	 
 
When cost relationships are linear, total variable prime costs will vary i...
A(n) ________ is a carefully predetermined cost that is usually expressed on a per unit basis. 
A)	allocated cost 
B)	applied cost 
C)	standard cost 
D)	flexible cost - ANSWER c 
 
The type of standard that provides allowances for normal amounts of waste and 
inefficiency in the production ...
Preview 2 out of 11 pages
Add to cartA(n) ________ is a carefully predetermined cost that is usually expressed on a per unit basis. 
A)	allocated cost 
B)	applied cost 
C)	standard cost 
D)	flexible cost - ANSWER c 
 
The type of standard that provides allowances for normal amounts of waste and 
inefficiency in the production ...
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