Acct300 Week 7 Quiz Final

ACCT300 week 7 quiz Final
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Question 1 of 40
2.5 Points
Book value is computed as:
A.current market value less residual value.
B.cost less residual value.
C.current market value less accumulated depreciation.
D.cost less accumulated depreciation.

Question 2 of 40
2.5 Points
The first month of operation showed the net cash from operating activities to be $3,760, the net cash from investing activities to be ($5,415), and the ending cash balance to be $3,425. The net cash from financing activities must be:
A.$1,770.
B.$5,080.
C.$5,750.
D.$12,600.

Question 3 of 40
2.5 Points
The percentage analysis of increases and decreases in corresponding items in comparative financial statements is referred as vertical analysis.
A. True
B. False


Question 4 of 40
2.5 Points
Merchandise inventory shrinkage will increase Merchandise Inventory.
A. True
B. False


Question 5 of 40
2.5 Points
If employees accept a wage contract that decreases the unit contribution margin, the break-even point will decrease.
A. True
B. False


Question 6 of 40
2.5 Points
If the total unit cost of manufacturing Product Y is currently $40 and the total unit cost after modifying the style is estimated to be $48, the differential cost for this situation is $48.
A. True
B. False


Question 7 of 40
2.5 Points
East, Inc. had beginning inventory of $10,000, purchases of $25,000, and ending inventory of $5,000. What is East’s cost of merchandise sold?
A.$10,000
B.$25,000
C.$5,000
D.$30,000

Question 8 of 40
2.5 Points
The relationship of $225,000 to $100,000, expressed as a ratio, is:
A.2.0 to 1.
B.1.8 to 1.
C.1.5 to 1.
D.2.25 to 1.

Question 9 of 40
2.5 Points
The accrual basis of accounting requires revenue to be recorded when the service is performed.
A. True
B. False


Question 10 of 40
2.5 Points
The two methods of accounting for...