BUS 475 Final Exam
BUS 475 Final Exam
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1).These are selected account balances on December 31, 2008. What is the net amount of property, plant, and equipment that will appear on the balance sheet?
2) Which list below best describes the major services performed by public accountants?
3) The conceptual framework developed by the Financial Accounting Standards Board
4) In what situations will a static budget be most effective in evaluating a manager's effectiveness?
5) The major reporting standard for management accounts is __________.
6) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
7) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
8) What exists when budgeted costs exceed actual results?
9) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals: The net income (or loss) for the period is __________.
10) Of the following companies, which one would not likely employ the specific identification method for inventory costing?
11) These are selected account balances on December 31, 2008.
What is the net amount of property, plant, and equipment that will appear on the balance sheet?
12) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
13) The cost of an asset and its fair market value are __________.
14) Which one of the following items is not generally
Copy this link to your browser and download:
http://www.finalexamguide.com/BUS-475-Final-Exam-1-112.htm
1).These are selected account balances on December 31, 2008. What is the net amount of property, plant, and equipment that will appear on the balance sheet?
2) Which list below best describes the major services performed by public accountants?
3) The conceptual framework developed by the Financial Accounting Standards Board
4) In what situations will a static budget be most effective in evaluating a manager's effectiveness?
5) The major reporting standard for management accounts is __________.
6) Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March?
7) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
8) What exists when budgeted costs exceed actual results?
9) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals: The net income (or loss) for the period is __________.
10) Of the following companies, which one would not likely employ the specific identification method for inventory costing?
11) These are selected account balances on December 31, 2008.
What is the net amount of property, plant, and equipment that will appear on the balance sheet?
12) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
13) The cost of an asset and its fair market value are __________.
14) Which one of the following items is not generally