38) Accrued liabilities: A) Result from payment before services are received. B) Result from services received before payment. C) Are generally paid in services rather than cash. D) Are deferred charges to expense. 39) - 39) A subsequent event for an entity with a December 31, 2016, year-end would not include: A) A major uncertainty at December 31, resolved in January 2017 B) A change in the estimated useful lives of equipment in January 2017, C) An acquisition of another company in January 2017. D) An issuance of bonds in January 2017 40) An example of fraud would be: A) Buying raw materials from an affiliated company. B) Knowingly classifying a material noncurrent receivable as a current receivable. C) Forgetting to accrue salaries and wages payable. D) Issuing a purchase order without first securing bids. 41) Temporary accounts would not include: A) Depreciation expense. C) Salaries payable. B) Cost of goods sold. D) Supplies expense. MULTIPLE CHOICE. Choose the one alternative that best completes the statemente answer the question 1) Which of the following is a philosophy of providing customers with superior products and CERT 2 2) Which of the following describes system in which suppliers deliver materials at the time they are needed and finished units are completed ONLY when customer need to be filled? A Tonal quality management y chainment B. functions departments and data into a single wiem! A) Enterprise Resource Planning C All in One Software 4) To which of the following stakeholders is management response to getting a profit? A) Customers B) Employees O Creditors D) Owners 5) 5) To which of the following stakeholders is management responsible for providing quality products for a reasonable price? A) Employees B) Owners Creditors D) Customers 6) Employees expect the organization they work for to do which of the following? A) Provide a safe, productive work environment B) Generate a profit Provide reliable products for a reasonable price D) Pay taxes timely. 7) What is the purpose of supply chain management? A) Speed delivery of goods and services C) Reduce costs B) improve quality D) All of the above 8) The primary goal of financial accounting is to provide information to which of the following A) shareholders B) creditors D) both A and B 9) The primary goal of managerial accounting is to provide information to which of the following? A) management B) investors C) creditors Dextemal auditors 10) Which of the following are the decision makers inside of a company? A) bookkeepers B) shareholders ( creditors D) managers 11) Which role are managers performing when they choose goals and determine how to achieve them? A) controlling B) decision making C) hiring D) planning 12) Which of the following are period costs? A) current liabilities on the balance sheet B) current assets on the balance sheet C) costs incurred and expensed in the accounting period D) costs related to the sale of products 13) Which of the following is a characteristic of a service company? A) It does not have tangible products intended for sale B) It has a single category of inventory. C) It makes a product D) It transforms raw materials into finished goods
