1.

1. Which of the following is an example of direct labor cost for a table manufacturer?

a.	cutting-saw operator

b.	repairs to the roof of the factory

c.	plant supervisor

d.	night watchman

2. Income statements for public companies, in accordance with FASB requirements, must report

a.	inventory turnover

b.	working capital ratio

c.	earnings per share on common stock

d.

accounts payable turnover

3. When a corporation issues bonds, the price that buyers are willing to pay for the bonds is dependent on several things, including

a.	face amount, dennominations of the bonds and market rate

b.	face value, bond interest, market interest rate, maturity date

c.	market interest rate, maturity date and SEC action

d.

denominations and market rate

4. If bonds with a $50,000 face value pay 6% interest at a time when the market rate of interest is 6% the issue price will be

a. $6,000

b.	Less than $50,000

c.	Equal to $50,000

d.

Greater than $50,000

5.If comparative balance sheets indicate notes receivable of $60,000 in year 1 and $80,000 in year 2 the percentage increase is

a.

33.33%

b.

25%

c.	10% d. 1.4%