Can someone please help with this? Its multiple choice/true false.

QUIZ #3 ACCT 301 Fall 2015 Name: Section: Date: 1. (True or False) A corporation is created by obtaining a charter from the federal government. 2. (Multiple Choice) Taylor Company had net income of $50,000, paid income taxes of $20,000, and had before tax interest expense of $10,000. What was Taylor's times interest earned ratio? A. B. C. D. E. 3. 5 6 7 8 None of these. (Multiple Choice) Chandler had 7,500 shares of common stock outstanding on January 1, and issued an additional 2,500 shares on June 1. There was no preferred stock, and net income was $124,700. How much is diluted earnings per share for the calendar year? A. B. C. D. E. 4. $12.47 $13.92 $14.25 Diluted EPS is not applicable because of the simple capital structure. None of these. (True or False) Dividends paid are added back to net income in order to determine cash provided by operating activities. 5. (Multiple Choice) Extraordinary items are disclosed in: A. B. C. D. E. the statement of retained earnings. the main body of the income statement. a separate section of the income statement following discontinued operations. a separate section of the income statement preceding discontinued operations. None of these. 6. (Multiple Choice) Manufacturing overhead includes: A. B. C. D. E. 7. all manufacturing costs. all manufacturing costs except direct materials and direct labor. indirect materials, but not indirect labor. indirect labor, but not indirect materials. None of these. (Multiple Choice) During 20X8, Durant Manufacturing experienced an increase in work-in-process inventory. As a result: A. B. C. D. E. 8. cost of goods sold will be greater than cost of goods manufactured. cost of goods sold will be less than cost of goods manufactured. total manufacturing cost will be greater than cost of goods manufactured. total manufacturing cost will be less than cost of goods manufactured. None of these. (Multiple Choice) Which of the following transactions would cause a change in total stockholders' equity? A. B. C. D. E. 9. A stock dividend. Paying a previously declared cash dividend. Reissuing treasury stock at its cost. A stock split. None of these. (Multiple Choice) Financial statement ratio analysis may be undertaken to study liquidity, turnover, profitability, and other measures. What type of ratio is the return on equity ratio? A. B. C. D. E. Liquidity. Turnover. Profitability. Other. None of these. 10. (Multiple Choice) Hutton Corporation issued $100,000 of 7%, 15-year bonds on June 1, 20X6 (dated April 1 20X6) at 101 plus accrued interest, which is paid on April 1 and October 1. The proper entry to record issuance of the bonds includes a debit to Cash for: A. B. C. D. E. 11. $100,000. $101,000. $101,167. $102,167. None of these. (True or False) A custom home builder would likely capture costs via processing costing methods. 12. (Multiple Choice) Finished goods ending inventory of $10,000 is erroneously determined to be $100,000. The effect of this error will be to: A. B. C. D. E. 13. overstate assets by $90,000. overstate income by $90,000. understate income by $90,000. Both A and B. None of these. (Multiple Choice) A change in accounting principle: A. B. C. D. E. 14. may occur frequently to utilize favorable alternative reporting procedures. should be made when the new procedure will result in improved financial income. is shown as a cumulative catch-up adjustment in current period's income. All of the above. None of these. (Multiple Choice) River Bend started the calendar year with 100,000 shares outstanding. An additional 20,000 shares were issued on April 1, and 10,000 shares were reacquired on July 1. What is the number of weighted-average shares outstanding for the full year? A. B. C. D. E. 100,000 110,000 120,000 130,000 None of these. 15. (True or False) Managerial accounting is concerned with external reporting, that is, reporting the results of economic activities to parties outside the firm