Which of the following is not a measure of dispersion? Options A)Variance B) Range C) Arithmetic Mean D) Standard Deviation Answer Explanation in Detail Dispersion Dispersion plays an very important role…
Which of the following statements is true of the Leontief Paradox?
Which of the following statements is true of the leontief paradox? Options A) It shows an anomaly that occurs when a nation has high domestic demand for a product. B) It…
If the buyer is to pay the freight costs of delivering merchandise, delivery terms are stated as
If the buyer is to pay the freight costs of delivering merchandise, delivery terms are stated as Options A) FOB shipping point B) FOB destination C) FOB n/30 D) FOB…
A job cost sheet shows information about each of the following items except:
A job cost sheet shows information about each of the following items except: Options A) The direct labor costs assigned to the job. B) The name of the customer. C)…
The book value of an asset is equal to the
The book value of an asset is equal to the Options A) asset’s fair value less its historical cost. B) blue book value relied on by secondary markets. C) replacement cost…
In a job-order costing system, indirect labor cost is usually recorded as a debit to:
In a job-order costing system, indirect labor cost is usually recorded as a debit to: Options A) Cost of Goods Sold. B) Manufacturing Overhead Control. C) Finished Goods. D) Work…
The primary purpose of the statement of cash flows is to
The primary purpose of the statement of cash flows is to Options A) provide information about the investing and financing activities during a period. B) prove that revenues exceed expenses if…
The balance in the accumulated depreciation account represents the
The balance in the accumulated depreciation account represents the Options A) cash fund to be used to replace plant assets. B) amount to be deducted from the cost of the…
The Accounting Equation may be expressed as
The Accounting Equation may be expressed as Options A) Assets = Liabilities – Owner’s Equity. B) Assets = Liabilities + Owner’s Equity. C) Liabilities = Owner’s Equity – Assets. D) all…
The total cost of an asset less its accumulated depreciation is called:
The total cost of an asset less its accumulated depreciation is called: Options A) historical cost. B) book value. C) present value. D) current (market) value. The two main…
The two main sources of stockholders’ equity are
The two main sources of stockholders’ equity are Options A) common stock and bonds B) common stock and preferred stock C) paid-in capital and retained earnings D) loans from banks and…
The primary difference between a static budget and a flexible budget is that a static budget
The primary difference between a static budget and a flexible budget is that a static budget Options A) contains only fixed costs, while the flexible budget contains only variable costs. B)…