Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need the answer as soon as possible TEST I. MULTIPLE CHOICE DIRECTIONS: Read and understand the statements carefully. Choose the BEST answer. Write the

I need the answer as soon as possible image text in transcribed

TEST I. MULTIPLE CHOICE DIRECTIONS: Read and understand the statements carefully. Choose the BEST answer. Write the letter of your answer. (2 points each) 1. A business corporation spends more on which of the following operating expenses? A. Rent Expense B. Interest expenses C Depreciation expense D. Salaries and wages expenses 2. What should a company present to financial institutions if they plan to avail funds? A. Historical financial statements B. Projected financial statements C. Comparative financial statements D. Horizontal and Vertical analysis of comparative financial statements 3. Which one is NOT part of the capital structure? A. Assets B. Equity C. Liabilities D. None of the above 4. Mr. Boone projected that they can achieve the 10,000 units of boxes on or before the year-end considering their available raw materials. What characteristic of an effective plan refers to the situation? A. Specific B. Realistic C. Achievable D. Time-related 5. Refer to ADM Manufacturing Corporation sales budget in Lesson 4. If the assumption, the company projected a 15% quarterly income, what are the total sales for the second quarter? A. P220,000 B. 230,000 CP 264,500 D. P 304,175 6. Refer to ADM Manufacturing Corporation production budget in Lesson 4. What would be the beginning inventory in the first quarter of 2022? A. 50 B. 100 C. 50 units D. 100 units 7. Refer to ADM Manufacturing Corporation cash budget in Lesson 4. How much are the total payments for purchases if the cost per unit in the 2nd quarter increases from 250 to 75 and no other assumptions were made? A. P102,500 B. 165,000 C212,500 D. 275,000 TEST I. MULTIPLE CHOICE DIRECTIONS: Read and understand the statements carefully. Choose the BEST answer. Write the letter of your answer. (2 points each) 1. A business corporation spends more on which of the following operating expenses? A. Rent Expense B. Interest expenses C Depreciation expense D. Salaries and wages expenses 2. What should a company present to financial institutions if they plan to avail funds? A. Historical financial statements B. Projected financial statements C. Comparative financial statements D. Horizontal and Vertical analysis of comparative financial statements 3. Which one is NOT part of the capital structure? A. Assets B. Equity C. Liabilities D. None of the above 4. Mr. Boone projected that they can achieve the 10,000 units of boxes on or before the year-end considering their available raw materials. What characteristic of an effective plan refers to the situation? A. Specific B. Realistic C. Achievable D. Time-related 5. Refer to ADM Manufacturing Corporation sales budget in Lesson 4. If the assumption, the company projected a 15% quarterly income, what are the total sales for the second quarter? A. P220,000 B. 230,000 CP 264,500 D. P 304,175 6. Refer to ADM Manufacturing Corporation production budget in Lesson 4. What would be the beginning inventory in the first quarter of 2022? A. 50 B. 100 C. 50 units D. 100 units 7. Refer to ADM Manufacturing Corporation cash budget in Lesson 4. How much are the total payments for purchases if the cost per unit in the 2nd quarter increases from 250 to 75 and no other assumptions were made? A. P102,500 B. 165,000 C212,500 D. 275,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting an introduction to concepts, methods and uses

Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis

13th Edition

978-0538776080, 324651147, 538776080, 9780324651140, 978-0324789003

More Books

Students also viewed these Accounting questions