$31.$ A firm bought a machine for $3,200.$ It is to be depreciated at a rate of $25$ per cent using the reducing balance method. What would be the WDV after two years?

$($A$)1,600$

$($B$)2,400$

$($C$)1,800$

$($D$)801$

$32.$ A firm bought a machine for $16,000.$ It is expected to be used for five years then sold for $1,000.$ What is the annual amount of depreciation if the straight$-$line method is used?

$($A$)3,200$

$($B$)3,100$

$($C$)3,750$

$($D$)3,000$

$33.$ For most organizations, top management consists of$\_\_\_\_\_\_\_\_\_\_.$

A$.$ any manager above the level of foreman

B$.$ the chief executive officer, the president, and his or her vice presidents

C$.$ the chief executive officer only

D$.$ the chief executive officer and the president only

$34.$ The management functions are$\_\_\_\_\_\_\_\_\_\_\_\_.$

A$.$ planning, organizing, staffing, leading, and controlling

B$.$ organizing, selling, accounting, leading, and controlling

C$.$ planning, accounting, controlling, leading, and organizing

D$.$ planning, organizing, selling, leading, and controlling

$35.$ The categories of management roles are.

A$.$ figurehead, leader, and liaison

B$.$ monitor, disseminator, and spokesperson

C$.$ interpersonal, decisional, and entrepreneur

D$.$ interpersonal, informational, and decisional

$36.$ The skills that all managers need are.

A$.$ planning, organizing, and controlling

B$.$ conceptual, technical, and human

C$.$ effectiveness, efficiency, and planning

D$.$ interpersonal, decisional, and informational

$37.$ Which of the following best describes the need for preparing the trial balance?

A$.$ To check the arithmetical accuracy of the ledger entries or balance.

B$.$ To help ensure the balancing of the financial statement

C$.$ To help assemble all the debit and the credit balances of all accounts.

D$.$ A column for narration, debit and credit.

$38.$ A manager$$s first step in the decision$-$making process is to$\text{'}.-$

A$.$ define the problem

B$.$ identify limiting factors

C$.$ develop potential alternatives

D$.$ Establish a control and evaluation system.

$39.$ A quantitative technique for decision making that shows a complete picture of potential alternative decision paths is called.

A$.$ the Delphi technique

B$.$ a decision tree

C$.$ brainstorming

D$.$ payback analysis

$40.$ A group effort of generating alternative ideas that can help a manager solve a problem is called.

A$.$ the Delphi technique

B$.$ out$-$of$-$the box thinking

C$.$ brainstorming

D$.$ the nominal group technique

$41.$ Which financial statement displays the revenues and expenses of a company for a period of time?

A$.$ Income statement

B$.$ Cash flow statement

C$.$ Balance sheet

D$.$ Statement of stockholders$$ equity

$42.$ Which of these is not included as a separate item in the basic accounting equation?

A$.$ Assets $*$

B$.$ Revenues

C$.$ Liabilities

D$.$ Stockholders$$ equity

$43.$ The accrual basis of accounting records revenues when they are:

A$.$ Collected

B$.$ Earned

C$.$ Contracted

D$.$ Readily available for use

$44.$ Asset accounts have what type of balance?

A$.$ Debit

B$.$ Credit

C$.$ Contra

D$.$ All of the above

$45.$ Which account is not a liability account?

A$.$ Accounts payable

B$.$ Accrued expenses

C$.$ Cash

D$.$ Notes payable

$46.$ Which account increases equity?

A$.$ Expenses

B$.$ Withdrawals

C$.$ Treasury stock

D$.$ Revenues

$47.$ Companies not disclosing an immanent bankruptcy would violate the:

A$.$ Business entity concept

B$.$ Going concern concept

C$.$ Monetary unit assumption

D$.$ Periodicity assumption

$48.$ The assumption that states that businesses can divide up their activities into artificial time periods.

A$.$ Business entity concept

B$.$ Going concern concept

C$.$ Monetary unit assumption

D$.$ Periodicity assumption

$49.$ When estimating unearned revenues, what principle applies?

A$.$ Conservatism principle

B$.$ Historical cost principle

C$.$ Full disclosure principle

D$.$ Consistency principle

$50.$ The owner of a business takes inventory for her own use. What are the ledger account entries to record this?

A$.$ debit drawings, credit purchases

B$.$ debit drawings, credit inventory

C$.$ debit capital, credit sales

D$.$ debit inventory, credit drawings