1. Which of the following is true of job order cost systems?

a.Job order cost systems provide product costs for each manufacturing department or process.

b.Job order cost systems are not widely used.

c.Examples of companies that use job order cost systems would be oil refineries, paper producers, chemical processors, and food processors.

d.Job order cost systems are often used by companies that manufacture custom products for customers or batches of similar products.

2. _____ analysis is used while selecting the mix of products to sell.

a.Cost-volume-profit

b.Receivables

c.Discounted

d.Activity-based

3.

Return on stockholders' equity is calculated as the ratio of average stockholders' equity to operating income.

True

False

4.

Which of the following concepts is being considered when a company making a capital investment decision converts all the dollar cash inflows and outflows over the life of a project to their present value?

a.The realization concept

b.The matching concept

c.The accounting period concept

d.The time value of money concept