(5pts)

Question 16 - Cost accountants provide a wide variety of services including

	designing and implementing accounting information systems.
	auditing reviews.
	performing general accounting services.
	analyzing the cost effectiveness of products produced and services provided.

T

(5pts)

Question 19 - The two methods of accounting for investment in stock are the cost method and the

	straight-line method
	equity method
	liability method
	interest method

(5pts)

Question 20 - A printer that cost $600 and has been owned for 2 years is traded in for a new one. Depreciation in the amount of $120 had been taken each year. The new printer has a fair market value of $1,250. A trade-in allowance of $400 is granted, and the balance is paid in cash. The transaction to enter the exchanges of these two assets would result in the recognition of

	a gain of $40.
	a loss of $40.
	a gain of $200.
	neither a gain nor a loss.