Question 16Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhat are the results of the physical count are compared to?Question 16Answera.the computer (or book) countb.last quarter's countc.last year's countd.balance sheet valueClear my choiceQuestion 17Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhat is the purpose of cross-indexing?Question 17Answera.To make it possible to trace the origin of an entryb.To provide extra information about an entryc.To make it easy to find an entry laterd.To keep the journal entries organizedClear my choiceQuestion 18Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhat does the method of acquiring the patent affect?Question 18Answera.the book value of the patentb.the useful life of the patentc.the purchase price of the patentd.the selling price of the patentClear my choiceQuestion 19Not yet answeredMarked out of 1.00Flag questionTipsQuestion textAll of these accounts appear on the balance sheet EXCEPT:Question 19Answera.liabilitiesb.assetsc.revenued.stockholder's equityClear my choiceQuestion 20Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhen can journal entries be posted?Question 20Answera.At a set time, such as end of day, month or periodb.At the time the journal page is filledc.All of these answersd.At the time the transaction is journalized

Question 2Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhich statement is also known as the book of original entry?Question 2Answera.Journalb.Trial balancec.T-accountd.Income statementClear my choiceQuestion 3Not yet answeredMarked out of 1.00Flag questionTipsQuestion text______ is a record showing increases and decreases in assets, liabilities, and equity.Question 3Answera.A transaction.b.A journalc.ledgerd.An accountClear my choiceQuestion 4Not yet answeredMarked out of 1.00Flag questionTipsQuestion text____ are prepaid expense and revenue accounts that have delayed recognition until they have been used or earned.Question 4Answera.Deferralsb.Accrualsc.Historicald.PeriodicalClear my choiceQuestion 5Not yet answeredMarked out of 1.00Flag questionTipsQuestion textA _______ is a list of all accounts in the general ledger that have nonzero balances.Question 5Answera.journalb.trial balancec.income statementd.balance shee

Question 26Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhich of the following is not reported on the balance sheet?Question 26Answera.equipmentb.sales revenuec.capitald.accounts receivableClear my choiceQuestion 27Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhen evaluating Goodwill, if the present value of the future revenues is less than the business segment's carrying value it is said to be:Question 27Answera.downgradedb.devaluedc.depressedd.impairedClear my choiceQuestion 28Not yet answeredMarked out of 1.00Flag questionTipsQuestion textIf a company is assumed to continue trading normally for the foreseeable future it is a:Question 28Answera.economic entityb.going concernc.viable concernd.sound investmentClear my choiceQuestion 29Not yet answeredMarked out of 1.00Flag questionTipsQuestion textTo be classified as a capital expenditure the cost must do what?Question 29Answera.improve or better an existing plant assetb.be directly related to a capital accountc.involve long term repairs to an assetd.affect only a piece of machinery or equipmentClear my choiceQuestion 30Not yet answeredMarked out of 1.00Flag questionTipsQuestion textDividing the book value of the copyright by the useful life of the copyright is known as what:Question 30Answera.double declining methodb.the single depreciation methodc.amortization methodd.straight-line method

Question 21Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhich of the following influences how a dividend is reported on a company's books?Question 21Answera.When the dividend is declared by the company.b.Whether the dividend is paid using cash or stock.c.Whether the dividend is paid using retained earnings or current year income.d.All of these answers.Clear my choiceQuestion 22Not yet answeredMarked out of 1.00Flag questionTipsQuestion textA measurement error in inventory will result in a company calculating what incorrectly?Question 22Answera.the amount of cash on handb.the amount of inventory on handc.the final cost of inventoryd.the cost of goods soldClear my choiceQuestion 23Not yet answeredMarked out of 1.00Flag questionTipsQuestion textA par value bond is sold at what amount?Question 23Answera.at discounted rateb.face valuec.higher than face valued.lower than face valueClear my choiceQuestion 24Not yet answeredMarked out of 1.00Flag questionTipsQuestion textAn annuity pays $1500 at the beginning of every month for five years. The interest rate of the annuity is 4%. What is this annuity's future value?Question 24Answera.99448b.97948c.99780d.101280Clear my choiceQuestion 25Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhat type of expense is recognized, but not yet paid?Question 25Answera.outstanding expenseb.accrued expensec.outstanding liabilityd.deferred expense

Time left 0:47:21Question 11Not yet answeredMarked out of 1Flag questionTipsQuestion textQuestionFacility IndexDiscrimination Index120.80.4250.50.3320.70.6400.40.3Which one of the questions, based on the indices, is BEST suited to be included in a revised version of the test?Question 11Answera.25b.40c.32d.12Clear my choiceQuestion 12Not yet answeredMarked out of 1Flag questionTipsQuestion textThe scatter diagram shows scores of 10 students on Mathematics and Science. The correlation between Mathematics and Science can be described asQuestion 12Answera.strongly positiveb.weak positivec.strongly negatived.weak negativeClear my choiceQuestion 13Not yet answeredMarked out of 1Flag questionTipsQuestion textMs. George obtained a reliability index of -.85 for her two English tests. Which of the following is a possible cause for the reliability index?         i. High scores were obtained for the first test and high scores for the second test.      ii. High scores were obtained for the first test and low scores for the second test.     iii. Low scores were obtained for the first test and low scores for the second test.Question 13Answera.ii onlyb.i onlyc.i, ii and iiid.i and ii onlyClear my choiceQuestion 14Not yet answeredMarked out of 1Flag questionTipsQuestion textAfter comparing two sets of scores, a correlation coefficient of zero was obtained. This indicates that  Question 14Answera.the variables are independent of each other  b.there is a strong positive relationship between the two variables.c. there is a strong negative relationship between the two variables.d.there is no linear relationship between the two variables

Question 1Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhere are long-term liabilities shown on the balance sheet?Question 1Answera.on the left side in the loan sectionb.on the right side in loan sectionc.on the right side in the liability sectiond.on the left side in the liability sectionClear my choiceQuestion 2Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhen a business records economic activity in the period it happens, this can be more readily identified as:Question 2Answera.cash basis accountingb.accrual basis accountingc.cost principled.revenue recognition principleClear my choiceQuestion 3Not yet answeredMarked out of 1.00Flag questionTipsQuestion textA parent company must own how much of the subsidiary’s common stock?Question 3Answera.0.15b.0.5c.0.25d.0.75Clear my choiceQuestion 4Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhich of the following statements about a preferred stockholder's rights to the company's income is NOT true?Question 4Answera.A preferred stock's par value represents the original investment when the shares were issued.b.The price of both common and preferred shares are subject to market determinants.c.Dividends to common and preferred shareholders are paid at the same time.d.When a business is liquidated, preferred shareholders receive funds equal to the stock's par value.Clear my choiceQuestion 5Not yet answeredMarked out of 1.00Flag questionTipsQuestion textWhat is the most common reason fair value is used to approximate the market value of an asset?Question 5Answera.because the asset's value fluctuatesb.because the asset is too old to properly valuec.because the asset is rare or unusuald.because there is no established market for the asset