Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

1. Which of the given represents normal sequence in which below budgets are prepared.

 

a. Sales, Balance Sheet, Income Statement

 

b. Balance Sheet, Sales, Income Statement

 

c. Sales, Income Statement, Balance Sheet

 

d. Income Statement, Sales, Balance Sheet

 

2. In creating a master budget, top management is normally best able to:

 

a. Prepare detailed departmental-level budget figures.

 

b. Give a perspective on the company as a whole.

 

c. Point out the particular persons who are to blame for inability to meet budget goals.

 

d. Responses a, b, and c are all correct.

 

3. When creating a production budget, the required production equals:

 

a. Budgeted sales + beginning inventory + desired ending inventory

 

b. Budgeted sales - beginning inventory + desired ending inventory

 

c. Budgeted sales - beginning inventory - desired ending inventory

 

d. Budgeted sales + beginning inventory - desired ending inventory.

 

4. If cost is a common cost of segments on segmented income statement, the cost must:

 

a. Be allocated to the segment on the basis of segment sales.

 

b. Not be allocated to the segments.

 

c. Excluded from the income statement.

 

d. Treated as a product cost rather than as a period cost.

 

5. Some investment opportunities which must be accepted from viewpoint of whole company may be rejected by a manger who estimated on the basis of:

 

a. return on investment

 

b. residual income

 

c. contribution margin

 

d. segment margin

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M921658

Have any Question? 


Related Questions in Accounting Basics

Choose any one of the following topic and express your

Choose any one of the following topic and express your views on the same: Which areas of Agriculture, Food and Animal feed would you focus for syndicated research and why? OR What would it really take to feed the growing ...

1-15 multiple choice each multiple choice has only one

1-15. Multiple Choice Each multiple choice has only one correct answer. 1. Which of the following aspects of a company could be considered a critical success factor, given the appropriate business environment? A) cutting ...

What is the difference between a significant deficiency and

What is the difference between a significant deficiency and a material weakness as it relates to internal Control? How does the presence of one material deficiency affect the auditor's report on internal controls under t ...

Assignment business analyticsthis assignment requires you

Assignment Business Analytics This Assignment requires you to use Excel in all three questions. Make sure you explain your answers and provide the regression output tables for questions 1 and 2. Submit your Assignment to ...

Problem 1bart exchanges some real estate basis of 80000 and

Problem 1 Bart exchanges some real estate (basis of $800,00 and fair market value of $1 million) for other real estate owned by Roland (basis of $1.2 million and fair market value of $900,00) and $100,000 in cash. The re ...

Westerville company reported the following results from

Westerville Company reported the following results from last year % 2013 operations: Sales $ 1,000,000 Variable expenses 300,000 -------------------------------------- Contribution margin 700,000 Fixed expenses 500,000 - ...

Question 1 ldquoaccountancy is an information systemrdquo

Question 1. “Accountancy is an Information System”. Do you agree? Substantiate your answer with reasons. How does an Accountant help in planning and controlling a large commercial organization? Explain.    Question 2. Th ...

Indeed it can be said that newspapers are facing tough

Indeed it can be said that newspapers are facing tough times, and yes, the Internet can offer many things that papers cannot. Even so, the death of newspapers has been predicted by many for decades. Radio, TV and now the ...

Question 1 which of the following results in an increase in

Question 1. Which of the following results in an increase in the equity in investee income account when applying the equity method? Unrealized gain on intercompany inventory transfers for the prior year Amortizations of ...

Discussionaccounting irregularities please respond to the

Discussion "Accounting Irregularities" Please respond to the following: • Imagine that you were auditing accounts receivable balances to confirm sales and found significant discrepancies between the recorded account bala ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro