Review View Help Open in Desktop App Tell me what you want to do BI U D A A ... Ev Ev VA MUST" MEDAVA 1. Using a bank account provides the following control advantages: A. Reduces the amount of cash on-hand B. Provides an independent record of cash transactions C. Provides for reconciling the company's cash balance with the cash balance at the bank D. All of the above 2. Which of the following is NOT a credit to your bank account: E. Interest earned F. Cash deposits G. Deposits made by EFT H. Returned checks for insufficient funds 3. Customer checks returned unpaid are considered... I. EFT J. ACH K. SJU L. NSF 4. Accounts receivable are normally collected within the following number of days: A. 1-30 days B. 30-60 days C. 60-90 days D. 90-120 days 5. are amounts that customers owe for which a formal written document is issued 5._ are amounts that customers owe for which a formal written document is issued M. Notes Receivable N. Accounts Receivable 0. Investments P. All of the above 6. The following are indications that an account may be uncollectible, except for which one? Q. The receivable is past due. R. The customer files for bankruptcy S. The customer establishes a schedule for repayment T. The customer ignores attempts to collect the debt _ analysis evaluates the ability of a company to generate future earnings. U. Solvency V. Liquidity W. Cash Flow X. Profitability 8. The return on stockholders' equity measures the rate of earned on the amount invested by the stockholders. A. Liquidity B. Net income C. Liabilities R.Total assets 9. Which of the following industries would have the highest percentage of fixed assets? Y. Entertainment Z. Social media AA. Food retail BB. Software al/sanoussi_sangary18_my_stjohns_edu/_layouts/15/doc.aspx?sourcedoc=(dala99e3-af5b- Documento - Saved v wiew View Help I u Open in Desktop App ov Av A ... Tell me what you want to do Ev EVE EVA A B 10. 10.An asset that is based on reputation, location and quality is called: CC. Goodwill DD. Copyright EE. Patent FF. None of the above 11. Three of the following could account for a difference between the bank balance an the company's balance. Which is NOT a reason? GG.A delay by either the company or the bank in recording transactions HH.Errors made by either the company or the bank II. Transactions that the company will not know about until the statement is received JJ. Checks that have already cleared 12.Where is the adjustment to a company's cash balance reported? KK. General ledger LL. Income Statement MM. Cash Flow Statement NN.Statement of owner's equity as part of the reconciliation. 13.Deposits not received are added to 00. The bank's balance PP. The company's balance 14. The ratio of liabilities to stockholders' equity for a company is as follows... m/personal/sanoussi_sangary18_my_stjohns_edu/_layouts/15/doc.aspx?sourcedoc={dala99e3-af! Documento - Saved v ces 7 A Review View Help Open in Desktop App Tell me what you want to do BI U ov AvA ... Ev Evv 14. The ratio of liabilities to stockholders' equity for a company is as follows... 2019 2018 Total liabilities $ 550,000 $400,000 Total Stockholders' equity $ 900,000 $700,000 Ratio of liabilities to stockholders' equity 56.57 In which year, was the company more solvent? QQ.2019 RR. 2018 15. Which ratio of common stock measures the prospects for a company's future earnings A. Dividends per share B. Earnings per share C. Working capital D. Price-Earnings Ratio 16. Which type of Audit Opinion indicates that the financial statements have been fairly presented? A. Qualified Opinion B. Red Flag Opinion C. Unspecified Opinion D. Unqualified Opinion 17. Comparing dividends per share and earnings per share indicates the extent to which earnings are being retained for use in operations. SS. True TT. False 18. The Lessor is the party to whom the rights to use an asset are granted. UU.True W. False 19. Which of the following is not a benefit of Managerial Accounting? ww. Provides the cost of manufacturing a product XX. Produces financial statements for external parties YY. Analyzes potential efficiencies from automation ZZ. Analyzes how many units need to be sold to cover expenses 20. The type of Managerial Accounting that focuses on social and environmental impacts is known as: AAA. Profitability BBB. Sustainability . Solvency Liquidity DDD. 21. A business that does not implement effective quality checks, fails in which step of the Management Process: EEE. Planning FFF. Directing GGG. Controlling HHH. Decision Making Documento - Saved v Review B View I Help U Open in Desktop App ov Av Ao ... Tell me what you want to do Ev EVE EV Ed A Style 9 22. A CPA Firm renders an opinion as to the of a firm's financial statements. A. Accuracy B. Completeness C. Fairness D. Internal Control 23. The formula: Dividends, per share of Common Stock Market Price per Share of Common Stock represents which measurement: III. Dividend Yield JJJ. Return on Common Stock . Dividend Turnover LLL. Market return 24. Which of the following is not a component of Factory Overhead Cost? Mwm. Factory power NNN. Factory depreciation 000. Direct labor Indirect materials PPP. 25. In the corporate Annual Report, management's analysis and explanation of changes in results, risk exposures, and assessment of liquidity are include in the: QQQ. Financial Statements RRR. Sarbanes-Oxley Report SSS. Report on Fairness TIT. Management's Discussion and Analysis Documento - Saved erences A A Sty Review View Help Open in Desktop App Tell me what you want to do B I U or AvA ... Ev EVE EV 26. The formula to calculate Earnings Per Share (EPS) on common stock is: Net Income minus 77 Shares of Common Stock Outstanding UUU. Shares of Common Stock Ww. Preferred Dividends www. Market Price xxx. Shares of Preferred Stock 27. The components of Work in Process costs do NOT include the following: YYY. Materials Inventory Zn. Direct Labor AAAA Factory Overhead BBBB. Cost of Goods Sold 28. Based on the following information about Kleino's Deli, in which year did Kleino's retain more earnings: 2019 2018 Dividends on Common Stock $40,000 $25,000 Common Shares Outstanding 20,000 10,000 Earnings Per Share 3.0 2.75 Dividends Per Share 2.0 2.50 A. 2019 B. 2018 (52) I BROUGH Spotlight - My Content Word Document om/personal/sanoussi sangary18_my_stjohns_edu/_layouts/15/doc.aspx?sourcedoc=(da1a99e3-af5b-4 Documento - Saved Review ences ~ A View Help I U Open in Desktop App Tell me what you want to do or Av A ... EVEN EVA B 29. If receivables are expected to be collected beyond one year, they are classified as: CCCC. Current Assets DDDD. Investments EEEE. Uncollectible ' FFFF. Expenses 30. To a bank, a company's checking account balance is considered a liability. GGGG. True HHHH. False (52) I BRUUU Upung personal/sanoussi sangary18_my_stjohns_edu/ Jayouts/15/doc.aspx?sourcedoc (da1a99e3-af5b-4c05-a25 Documento - Saved es Review View Help pen in Desktop App Tell me what you want to do AA BI U OU AA .EVE Editing A Styles 31. Factoring 32. Allowance method 33. Net realizable value 34. Direct write-off method - A. The value of receivables expected to be collected B. Selling receivables for a fee C. Used by small companies with few receivables D. Records bad debt expense by estimating uncollectible accounts IIII. Sports Equipment in a Sports Management Company JJJJ. Land acquired for resale KKKK. Tractor used by a peanut farmer 35. Expense 36. Investment 37. Fixed Asset 38. Capitalized cost 39. Residual Value 40. Depreciable cost 41. Book Value - LLLL. The difference between asset's purchase cost and its residual value MWWM. The purchase price of an asset, plus all costs to prepare it for use NNNN. The estimated value of an asset at the end of its useful life 0000. The value of an asset, less its accumulated depreciation Review B View I Help U Open in Desktop App Tell me what you want to do ov AvA ... EVEVE Tv Editing Ap Styles v - PPPP. Asset that provides the exclusive right to produce and sell a product with unique features QQQQ. Asset that confers the exclusive right to sell a literary, artistic or musical composition RRRR. Asset used in the operation of a business that does not exist physically SSSS. Asset value in excess of its fair value 42. Intangible asset 43. Goodwill 44. Patent 45. Copyright Review B View I Help U Open in Desktop App ON AVAO ... Tell me what you want to do Ev EVE E Editing A Styles - & An asset has the following cost and usage . Cost of $160,000 Useful life of 50,000 hours . Was used for 2500 hours during the day Residual Value of $10,000 Using the following formulas.. Depreciation per unit= Cost - Residual Value _Total Estimated units of activity Depreciation Expense = Depreciation per unit x units of activity What is the units-of-activity depreciation for the year? TTTT. $7,500 UUUU. $2,500 WWW. $5,000 wwww. $3,000