bundle for Acct chapter

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...

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...

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...

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 ...

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...

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 ...