i need help on the questions for my final exam..please see attachment for questions

Financial Accounting: Tools for Business Decision Making 1. Requiring employees to take vacations is a weakness in the system of internal controls because it does not promote operational efficiency. T or F 2. All of the following are examples of internal control procedures except a. b. c. d. using prenumbered documents. reconciling the bank statement. customer satisfaction surveys. insistence that employees take vacations. 3. When using the allowance method year-end adjustments for bad debt expense must be made. T or F 4. Three accounting issues associated with accounts receivable are a. b. c. d. depreciating, returns, and valuing. depreciating, valuing, and collecting. recognizing, valuing, and accelerating collections. accrual, bad debts, and accelerating collections. 5. Most notes are not interest bearing. T or F 6. Current liabilities are due a. b. c. d. but not receivable for more than one year. but not payable for more than one year. and receivable within one year. and payable within one year. 7. The issuance of common stock affects both paid-in capital and retained earnings. T or F 8. Par value a. b. c. d. 9. 10. represents what a share of stock is worth. represents the original selling price for a share of stock. is established for a share of stock after it is issued. is the value assigned per share in the corporate charter. A change in accounting principle occurs when the principle used in the current year is different from the one used by competitors in the current year. T or F Which of the following is not an irregular item on the income statement? a. b. c. d. Discontinued operations Extraordinary items Other revenues and expenses Loss on disposal of a significant component of a business Financial & Managerial Accounting: The Basis for Business Decisions 11. Capital expenditures are debited to an expense account. T or F 12. A company that is exceptionally profitable will always have exceptionally high liquidity ratios. T or F Financial Accounting Theory and Analysis 13. Which of the following is not a component of working capital? a. b. c. d. Inventories Fixed assets Accounts receivable Accrued wages 14. Leasing has become a popular method of acquiring property because it has which of the following advantages: a. It offers 100 percent financing. b. It offers protection against obsolescence. c. If the lease qualifies as an operating lease, it does not add debt to the balance sheet. d. All of the above. 15. Those leases that do not meet the criteria for classification as salestype or direct financing leases are accounted for as operating leases by the lessor? T or F Financial Accounting: Tools for Business Decision Making 1. Requiring employees to take vacations is a weakness in the system of internal controls because it does not promote operational efficiency. T or F 2. All of the following are examples of internal control procedures except a. b. c. d. using prenumbered documents. reconciling the bank statement. customer satisfaction surveys. insistence that employees take vacations. 3. When using the allowance method year-end adjustments for bad debt expense must be made. T or F 4. Three accounting issues associated with accounts receivable are a. b. c. d. depreciating, returns, and valuing. depreciating, valuing, and collecting. recognizing, valuing, and accelerating collections. accrual, bad debts, and accelerating collections. 5. Most notes are not interest bearing. T or F 6. Current liabilities are due a. b. c. d. but not receivable for more than one year. but not payable for more than one year. and receivable within one year. and payable within one year. 7. The issuance of common stock affects both paid-in capital and retained earnings. T or F 8. Par value a. b. c. d. 9. 10. represents what a share of stock is worth. represents the original selling price for a share of stock. is established for a share of stock after it is issued. is the value assigned per share in the corporate charter. A change in accounting principle occurs when the principle used in the current year is different from the one used by competitors in the current year. T or F Which of the following is not an irregular item on the income statement? a. b. c. d. Discontinued operations Extraordinary items Other revenues and expenses Loss on disposal of a significant component of a business Financial & Managerial Accounting: The Basis for Business Decisions 11. Capital expenditures are debited to an expense account. T or F 12. A company that is exceptionally profitable will always have exceptionally high liquidity ratios. T or F Financial Accounting Theory and Analysis 13. Which of the following is not a component of working capital? a. b. c. d. Inventories Fixed assets Accounts receivable Accrued wages 14. Leasing has become a popular method of acquiring property because it has which of the following advantages: a. It offers 100 percent financing. b. It offers protection against obsolescence. c. If the lease qualifies as an operating lease, it does not add debt to the balance sheet. d. All of the above. 15. Those leases that do not meet the criteria for classification as salestype or direct financing leases are accounted for as operating leases by the lessor? T or F Financial Accounting: Tools for Business Decision Making 1. Requiring employees to take vacations is a weakness in the system of internal controls because it does not promote operational efficiency. T or F 2. All of the following are examples of internal control procedures except a. b. c. d. using prenumbered documents. reconciling the bank statement. customer satisfaction surveys. insistence that employees take vacations. 3. When using the allowance method year-end adjustments for bad debt expense must be made. T or F 4. Three accounting issues associated with accounts receivable are a. b. c. d. depreciating, returns, and valuing. depreciating, valuing, and collecting. recognizing, valuing, and accelerating collections. accrual, bad debts, and accelerating collections. 5. Most notes are not interest bearing. T or F 6. Current liabilities are due a. b. c. d. but not receivable for more than one year. but not payable for more than one year. and receivable within one year. and payable within one year. 7. The issuance of common stock affects both paid-in capital and retained earnings. T or F 8. Par value a. b. c. d. 9. 10. represents what a share of stock is worth. represents the original selling price for a share of stock. is established for a share of stock after it is issued. is the value assigned per share in the corporate charter. A change in accounting principle occurs when the principle used in the current year is different from the one used by competitors in the current year. T or F Which of the following is not an irregular item on the income statement? a. b. c. d. Discontinued operations Extraordinary items Other revenues and expenses Loss on disposal of a significant component of a business Financial & Managerial Accounting: The Basis for Business Decisions 11. Capital expenditures are debited to an expense account. T or F 12. A company that is exceptionally profitable will always have exceptionally high liquidity ratios. T or F Financial Accounting Theory and Analysis 13. Which of the following is not a component of working capital? a. b. c. d. Inventories Fixed assets Accounts receivable Accrued wages 14. Leasing has become a popular method of acquiring property because it has which of the following advantages: a. It offers 100 percent financing. b. It offers protection against obsolescence. c. If the lease qualifies as an operating lease, it does not add debt to the balance sheet. d. All of the above. 15. Those leases that do not meet the criteria for classification as salestype or direct financing leases are accounted for as operating leases by the lessor? T or F Financial Accounting: Tools for Business Decision Making 1. Requiring employees to take vacations is a weakness in the system of internal controls because it does not promote operational efficiency. T or F 2. All of the following are examples of internal control procedures except a. b. c. d. using prenumbered documents. reconciling the bank statement. customer satisfaction surveys. insistence that employees take vacations. 3. When using the allowance method year-end adjustments for bad debt expense must be made. T or F 4. Three accounting issues associated with accounts receivable are a. b. c. d. depreciating, returns, and valuing. depreciating, valuing, and collecting. recognizing, valuing, and accelerating collections. accrual, bad debts, and accelerating collections. 5. Most notes are not interest bearing. T or F 6. Current liabilities are due a. b. c. d. but not receivable for more than one year. but not payable for more than one year. and receivable within one year. and payable within one year. 7. The issuance of common stock affects both paid-in capital and retained earnings. T or F 8. Par value a. b. c. d. 9. 10. represents what a share of stock is worth. represents the original selling price for a share of stock. is established for a share of stock after it is issued. is the value assigned per share in the corporate charter. A change in accounting principle occurs when the principle used in the current year is different from the one used by competitors in the current year. T or F Which of the following is not an irregular item on the income statement? a. b. c. d. Discontinued operations Extraordinary items Other revenues and expenses Loss on disposal of a significant component of a business Financial & Managerial Accounting: The Basis for Business Decisions 11. Capital expenditures are debited to an expense account. T or F 12. A company that is exceptionally profitable will always have exceptionally high liquidity ratios. T or F Financial Accounting Theory and Analysis 13. Which of the following is not a component of working capital? a. b. c. d. Inventories Fixed assets Accounts receivable Accrued wages 14. Leasing has become a popular method of acquiring property because it has which of the following advantages: a. It offers 100 percent financing. b. It offers protection against obsolescence. c. If the lease qualifies as an operating lease, it does not add debt to the balance sheet. d. All of the above. 15. Those leases that do not meet the criteria for classification as salestype or direct financing leases are accounted for as operating leases by the lessor? T or F