X 120C Intermediate Accounting Theory & Practice Winter 2013 Quiz 2 Chapter 20 Chapter 21 True-False Conceptual – 40 questions Multiple Choice Conceptual – 40 questions STUDENT NAME:__RUPALI KAYPEE_______________________________ TRUE-FALSE—Conceptual Chapter 20 1. A pension plan is contributory when the employer makes payments to a funding agency. F 2. Qualified pension plans permit deductibility
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Chapter 13 Nurses are one of the biggest demands that I know of in this day and age. For the many people who go through the emergency rooms‚ in and out patients‚ regular check-ups or have to be in an environment of anointment‚ there must be nurses. Aside from the job that the doctors do‚ nurses cover some of the other procedures that should be performed in the medical field. Nurses‚ nurses assistants‚ physicians‚ pharmacist‚ and even midwives all play a role in the process
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CHAPTER 13--TAX CREDITS AND PAYMENT PROCEDURES Key 1. The tax benefit received from a tax credit is affected by the tax rate of the taxpayer. FALSE 2. The tax benefits resulting from tax credits and tax deductions are never affected by the tax rate bracket of the taxpayer. FALSE 3. Nonrefundable credits are those that reduce the taxpayer’s tax liability but are not paid when the amount of the credit (or credits) exceeds the taxpayer’s tax liability. TRUE 4. The credit for child
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Chapter 3—Emphasizing Informal Institutions: Cultures‚ Ethics‚ and Norms TRUE/FALSE 1. In situations where formal institutions are unclear or fail‚ informal institutions play a more important role in reducing uncertainty. ANS: T OBJ: 3.1 2. ANS: F OBJ: 3.1 PTS: 1 DIF: Easy REF: p. 62 NAT: AACSB: Tier 1 Communication; Tier 2 Environmental Influence Informal institutions are based on the rules and legal systems of an economy. PTS: 1 DIF: Easy REF: p. 63 NAT: AACSB: Tier 1 Communication; Tier 2 Legal
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Chapter 13 Inventory Management Answers to Discussion and Review Questions 1. Inventories are held (1) to take advantage of price discounts‚ (2) to take advantage of economic lot sizes‚ (3) to provide a certain level of customer service‚ and (4) because production requires some in-process inventory. 2. Effective inventory management requires (1) cost information‚ information on demand and lead time (amounts and variabilities)‚ an accounting system‚ and a priority system (e.g.‚ A-B-C)
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3–1. The members of a truss are pin connected at joint O. Determine the magnitudes of F1 and F2 for equilibrium. Set u = 60°. y 5 kN F2 70Њ 30Њ x SOLUTION + : ©Fx = 0; O F2 sin 70° + F1 cos 60° - 5 cos 30° - 4 (7) = 0 5 5 3 4 0.9397F2 + 0.5F1 = 9.930 7 kN + c ©Fy = 0; u 3 F2 cos 70° + 5 sin 30° - F1 sin 60° - (7) = 0 5 F1 Solving: T an his th d wo sa eir is p rk w le co ro is ill o u vi pr de f a rse de ot st ny s d s ec ro p an
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Chapter 13: Documentation of the Homosexual Agenda The Homosexual Manifesto 1972 “Gay” Rights Platform 1993 “Gay” Rights Platform The Overhauling of Straight America List of Sexual Orientations Redeeming the Rainbow 201 THE HOMOSEXUAL MANIFESTO By Michael Swift‚ "Gay Revolutionary." Reprinted from The Congressional Record of the United States Congress. First printed in Gay Community News‚ February 15-21 1987 “We shall sodomize your sons‚ emblems of your feeble masculinity‚ of your shallow dreams
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13. Organizational Change Understanding Key Concept l Change agents are people who take action to change the behavior of people and systems. l Unplanned change occurs spontaneously and without a change agent’s direction. l Planned change is intentional and occurs with a change agent’s direction. l Unfreezing is the stage at which a situation is prepared for change. l Changing is the stage in which specific actions are taken to create change. l Refreezing is the stage in which changes are
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assumption. 2. Sales revenue should be recognised when goods and services have been supplied; costs are incurred when goods and services have been received. Which accounting concept governs the above? a. The prudence concept b. The materiality concept c. The accruals concept * d. The dual accept concept 3. Which accounting concept requires that foreseen losses should be anticipated and taken into account immediately? a. The consistency concept b. The accruals concept c. The prudence
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Chapter 19: Accounting for Income Taxes Fundamentals of Accounting for Income Taxes * Intro * Pretax Financial Income- income before taxes‚ income for financial reporting purposes‚ income for BOOK purposes * Determine according to GAAP * Taxable Income- amount used to compute income taxes payable * Determine using Internal Revenue Code (tax code) * Differences arise for a simple reason‚ for financial reporting purposes companies use the full accrual
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