Acct 105 - Study guides, Class notes & Summaries
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ACCT 105 Act105 week 6 Review Exam 2023 Questions and Answers (100% Correct)
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Question 1 of 10 10.0/ 10.0 Points 
Because automobiles differ so much, their manufacture is likely to be accounted for in a job 
costing system. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
Which of the following would be classified as manufacturing overhead? (1) marketing 
research; (2) depreciation on president’s office facilities; (3) advertising; (4) factory taxes; 
(5) indirect materials; (6) machinery maintenance. 
A.1, 3, 4 are manufacturing overhead 
co...
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ACCT 105Act105 week 4.1100% COMPLETE QUESTIONS AND ANSWERS.
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Question 1 of 10 0.0/ 10.0 Points 
An overstated ending inventory leads to understated net income. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
During a period of rising prices, which inventory costing method might be expected to give 
the lowest valuation for inventory on the balance sheet? 
A.LIFO 
B.FIFO 
C.Weighted-average 
cost 
D.Specific 
identification 
Answer Key: 
A 
Question 3 of 10 0.0/ 10.0 Points 
When the perpetual inventory method is used, it is ne...
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ACCT 105 Act105 week 6.2100% COMPLETE QUESTIONS AND ANSWERS.
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Question 1 of 10 10.0/ 10.0 Points 
Section 404 of Sarbanes-Oxley levies duties on both management and outside auditors of 
public reporting companies. 
A. True 
B. 
False 
Answer Key: 
True 
Question 2 of 10 10.0/ 10.0 Points 
Which of the following is not one of the four specific responsibilities that PCAOB Auditing 
Standard No. 2 levies on company management? 
A.Accept responsibility for the effectiveness of the company’s internal control over 
financial reporting. 
B.Evaluate the effectiv...
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ACCT 105 Act105 week 3 100% COMPLETE QUESTIONS AND ANSWERS.
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Question 1 of 10 10.0/ 10.0 Points 
The stable dollar assumption is that fluctuations in the value of the dollar are significant and 
may not be ignored. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
The percentage-of-completion method recognizes revenue at the point of sale. 
A. True 
B. 
False 
Answer Key: 
False 
Question 3 of 10 10.0/ 10.0 Points 
Which of the following statements is false? 
A.Inclusion of special journals and subsidiary ledgers increased the e...
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ACCT 105 Act105 week 6.1 Review Exam 2024 Questions and Answers (100% Correct)
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Question 1 of 10 0.0/ 10.0 Points 
The data on a materials requisition are entered as debits to the Materials Inventory account. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 0.0/ 10.0 Points 
Which of the following statements does not apply to managerial accounting? 
A.Relates to the part of the company that the manager oversees. 
B.Helps managers make good decisions in financing, resource allocation, 
marketing, and production. 
C.Information is intended for internal use. 
D.Inform...
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ACCT 105 Act105 week 5.2 Review Exam 2023 Questions and Answers (100% Correct)
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Question 1 of 10 10.0/ 10.0 Points 
Any reputable company has a cash flow liquidity ratio of greater than 1.0. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
The amount of depreciation expense in a period is added back to net income under the 
indirect method. 
A. True 
B. 
False 
Answer Key: 
True 
Question 3 of 10 0.0/ 10.0 Points 
What is the current ratio for the following data? Cash - $34,000; marketable securities - 
$16,000; accounts and notes receivable, net...
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Act105 week 7 ACCT 105 Review Exam 2023 Questions and Answers (100% Correct)
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Question 1 of 10 10.0/ 10.0 Points 
Section 404 of Sarbanes-Oxley levies duties on both management and outside auditors of 
public reporting companies. 
A. True 
B. 
False 
Answer Key: 
True 
Question 2 of 10 10.0/ 10.0 Points 
Internal controls, as defined in Sarbanes-Oxley Section 404, are: 
A.the processes a company implements to prevent theft by employees. 
B.the processes a company implements to prevent fraternization within 
departments. 
C.the processes a company implements to ensure its ...
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Accounting 105 || with 100% Verified Solutions.
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ACC105 Chapter 5 || A Verified A+ Pass.
ACC 105 - Chapter 1 || with Error-free Solutions.
ACC 105 - Chapter 2 || Already Graded A+.
ACC 105 - Chapter 3 || A+ Verified Solutions.
ACC 105 Chapter 5 Smartbook: Employee Net Pay & Pay Methods || Questions and 100% Accurate Answers.
ACC 105 Final Exam || All Correct.
ACCT 105 Exam 1 || with Errorless Sol
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ACCT 105 Act105 week 7.2 Review Exam 2023 Questions and Answers (100% Correct)
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Question 1 of 10 10.0/ 10.0 Points 
Section 404 of Sarbanes-Oxley levies duties on both management and outside auditors of 
public reporting companies. 
A. True 
B. 
False 
Answer Key: 
True 
Question 2 of 10 10.0/ 10.0 Points 
Internal controls, as defined in Sarbanes-Oxley Section 404, are: 
A.the processes a company implements to prevent theft by employees. 
B.the processes a company implements to prevent fraternization within 
departments. 
C.the processes a company implements to ensure its ...
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GFEBS L250E Acquisition Process Overview Exam
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GFEBS L250E Acquisition Process Overview Exam 
Spending Chain Process 
The Acquisition process: 
Material Master Data 
Vendor Master Data 
Procurement with Logistics 
The Accounts Payable process 
 
 
Material Master Data 
sub-process encompasses the creation and maintenance of material master data. The main activity associated with this sub-process is: 
Perform Material Configuration: Source, maintain, and apply material master data. 
 
 
Vendor Master Data 
sub-process encompasses the creation...
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