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FiveStarLaw
FiveStarLaw, Doctoral Degree
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Experience:  Lawyer, Accountant and Researcher
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BUS/475 FINAL EXAM

Customer Question

BUS/475 FINAL EXAM
Submitted: 1 year ago.
Category: Multiple Problems
Expert:  FiveStarLaw replied 1 year ago.

FiveStarLaw :

Hello,


My name isXXXXX may I assist you today?

Customer :

i have a bus/475 final exam that i am doing right now that i need the answers to but dont know the version test


 

Customer :

hello


 

Customer :












































Which one of the following items is not generally used in preparing a statement of cash flows?

















A. Comparative balance sheets
B. Current income statement
C. Additional information
D. Adjusted trial balance


2) Balance sheet accounts are considered to be __________.

















A. permanent accounts
B. capital accounts
C. nominal accounts
D. temporary stockholders’ accounts


3) 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?

















A. $4,500
B. $750
C. $8,250
D. $5,250


4) These are selected account balances on December 31, 2008.









































Land (location of the corporation's office building)$150,000
Land (held for future use)225,000
Corporate Office Building900,000
Inventory300,000
Equipment675,000
Office Furniture150,000
Accumulated Depreciation450,000




What is the net amount of property, plant, and equipment that will appear on the balance sheet?

















A. $1,650,000
B. $2,400,000
C. $1,425,000
D. $1,950,000


5) A well-designed activity-based costing system starts with __________.

















A. computing the activity-based overhead rate
B. identifying the activity-cost pools
C. analyzing the activities performed to manufacture a product
D. assigning manufacturing overhead costs for each activity cost pool to products


6) The primary purpose of the statement of cash flows is to __________.

















A. prove that revenues exceed expenses if there is a net income
B. provide information about the investing and financing activities during a period
C. facilitate banking relationships
D. provide information about the cash receipts and cash payments during a period


7) Of the following companies, which one would not likely employ the specific identification method for inventory costing?

















A. Farm implement dealership
B. Music store specializing in organ sales
C. Hardware store
D. Antique shop


8) In what situations will a static budget be most effective in evaluating a manager's effectiveness?

















A. The company has substantial variable costs.
B. The company has substantial fixed costs.
C. The company has no fixed costs.
D. The planned activity levels match actual activity levels.


9) Multinational corporations __________.

















A. are U.S. companies that sell goods and services in other countries
B. are required to use international accounting standards
C. are U.S. companies that trade their securities on the exchanges in other countries
D. are firms that conduct their operations in more than one country through subsidiaries, divisions, or branches in foreign countries


10) The major reporting standard for management accounts is __________.

















A. the Sarbanes-Oxley Act of 2002
B. the Standards of Ethical Conduct for Practitioners of Management Accounting and Financial Management
C. generally accepted accounting principles
D. relevance to decisions


11) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:




























Income StatementBalance Sheet
Dr.Cr.Dr.Cr.
Totals$58,000$48,000$34,000$44,000




To enter the net income (or loss) for the period into the above worksheet requires an entry to the __________.

















A. income statement credit column and the balance sheet debit column
B. income statement debit column and the balance sheet credit column
C. balance sheet debit column and the balance sheet credit column
D. income statement debit column and the income statement credit column


12) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?

















A. General corporate liability insurance
B. Factory janitor
C. The western division’s vice president’s salary
D. Cost of landscaping the corporate office


13) 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?

















A. Wine
B. Beer
C. It should sell an equal quantity of both
D. Selling either results in the same additional income for the company


14) If a company reports a net loss, it __________.

















A. will not be able to pay cash dividends
B. may still have a net increase in cash
C. will not be able to make capital expenditures
D. will not be able to get a loan





Customer :

i have a test with a 100 question to do on this but im not sure what version test it is

Expert:  FiveStarLaw replied 1 year ago.

 

Hello,

My name isXXXXX may I assist you today?

Expert:  FiveStarLaw replied 1 year ago.
Please send me the questions and I will see what I can do to assist you:

http://www.asapsend.com/5starlaw
Expert:  FiveStarLaw replied 1 year ago.
Did you receive my reply –Please send me the questions and I will see what I can do to assist you:

http://www.asapsend.com/5starlaw
Customer: replied 1 year ago.


i just sent it to you in our chat


 

Expert:  FiveStarLaw replied 1 year ago.
I received a total of 14 questions. Is that correct? What is my deadline?
Customer: replied 1 year ago.

yes my deadline is in one hour i have more questions but i cannot post them until i get the answers to the first 14

Expert:  FiveStarLaw replied 1 year ago.
I will post the answers within the next 30 min. You will need to rate my service and then open a new page to submit the other questions
Customer: replied 1 year ago.

 














15) Without trade, __________.

















A. a country's production possibilities frontier is also its consumption possibilities frontier
B. interdependence is more extensive than it would be with trade
C. a country can still benefit from international specialization
D. a country is better off because it will have to learn to be self-sufficient without trade


16) A tax on an imported good is called a __________.

















A. tariff
B. trade tax
C. supply tax
D. quota


17) A production possibilities frontier will be a straight line if __________.

















A. increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
B. the economy is engaged in trade with at least one other economy
C. the economy is producing efficiently
D. increasing the production of one good by x units entails no opportunity cost in terms of the other good


18) Assume oligopoly firms are profit maximizers, they do not form a cartel, and they take other firms' production levels as given. Then in equilibrium the output effect __________.

















A. must be smaller than the price effect
B. can be larger or smaller than the price effect
C. must balance with the price effect
D. must dominate the price effect


19) Institutions in the economy that help to match one person's saving with another person's investment are collectively called the __________.

















A. banking system
B. financial system
C. monetary system
D. Federal Reserve system


20) If a price ceiling is a binding constraint on the market, __________.

















A. there is excess supply
B. buyers cannot buy all they want to buy at the price ceiling
C. sellers cannot sell all they want to sell at the price ceiling
D. the equilibrium price must be below the price ceiling


21) If a binding price ceiling were imposed in the computer market, __________.

















A. the supply of computers would decrease
B. the quality of computers would increase
C. a shortage of computers would develop

D. the demand for computers would increase


 




Customer: replied 1 year ago.


how do i rate

Expert:  FiveStarLaw replied 1 year ago.

Here are my answers for comparison with your own:

1 adjusted trial balance
2 permanent accounts
3 $4500
4 $1,650,000
5 A well-designed activity-based costing system starts with
6 provide information about the cash receipts and cash payments during a period
7 Hardware store
8 The planned activity levels match actual activity levels.
9 are firms that conduct their operations in more than one country through subsidiaries, divisions, or branches in foreign countries
10 the Standards of Ethical Conduct for Practitioners of Management Accounting and Financial Management
11 income statement credit column and the balance sheet debit column
12 Factory janitor
13 beer
14 may still have a net increase in cash

Please rate my service and then you may open a new page for your additional questions
Customer: replied 1 year ago.


so in order for you to answer the other questions i have to pay again?


 

Expert:  FiveStarLaw replied 1 year ago.
Yes you need to pay the site each time you submit questions. I do not have any involvement with the payment side of the site
Customer: replied 1 year ago.

but i wasn't finished submitting questions

Expert:  FiveStarLaw replied 1 year ago.
Is the total 21? So 7 more?
Customer: replied 1 year ago.


no when i submittted my question i said that i had a 100 question test but i could only submit to you the first 14 because i can't move on until those are answered

Expert:  FiveStarLaw replied 1 year ago.
Sorry I cannot answer 100 questions. Here are the next 3 questions which I have already answered as a courtesy:

15 a country's production possibilities frontier is also its consumption possibilities frontier
16 tariff
17 increasing the production of one good by x units entails a constant opportunity cost in terms of the other good
Expert:  Josie-Mod replied 1 year ago.
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