BUS 302L Exams Questions and Answers

Budgets are Answer> Used by individual, staffs, managers department. Management accountant place more emphasis on which of the following: Answer> future activities A listing of line item that the organization will use to classify its accounting information is? Answer> balance sheet ...

A company sells pretzels for $1.50/bag. Their February ending inventory was $1,600. Marketing prepares the following forecast: January 15,000 bags February 12,000 bags March 16,000 bags Total 43,000 bags Projected sales for April are 13,000 bags. Try to maintain 10% of the next month's for...

Economic profit is equal to: a. Total revenue minus the explicit cost of producing goods and services. b. Total revenue minus the implicit cost of producing goods and services. c. Total revenue minus the opportunity cost of producing goods and services. d. Average revenue minus the average cost ...

Comparing actual outcomes with budget outcomes, then following up, is an example of a Answer> Controlling activities Which of the following is typically a starting point for the budget process? Answer> a sales budget Tax accounting is generally most used by: Answer> Internal revenue ...

In the annual report, where would a financial statement reader find out if the company's financial statements give a fair depiction of its financial position and operating results? Answer> Auditor's report Which accounting assumption assumes that an enterprise will continue in operation...

Offer Requirements Answer> 1. intent to contract 2. definiteness of terms 3. communicated *NOT ADS Firm Offer Requirements (Merchant Rule) Answer> 1. be made by an offeror who is merchant 2. be contained in a signed writing 3. give assurances that the offer will be kept open (max 90 d...

A company sells pretzels for $1.50/bag. Their February ending inventory was $1,600. Marketing prepares the following forecast: January 15,000 bags February 12,000 bags March 16,000 bags Total 43,000 bags Projected sales for April are 13,000 bags. Try to maintain 10% of the next month's for...

Which phrase best describes the current role of the managerial accountant? Answer> Managerial accountants facilitate the decision-making process within an organization. An example of qualitative data is: Answer> customer satisfaction Product and service costing information is prepared fo...