Premium Essay

Principles of Accounting Ii Exam 1 -2010 Version

In: Business and Management

Submitted By teela1975
Words 2941
Pages 12
Principles of Accounting II Exam 1 -2010 Version

1-16. Decentralization refers to:
A. reporting for the company as a whole.
B. focusing reporting on parts of the company.
C. the delegation of decision-making authority throughout an organization.
D. differences in organizations.

2-21. Dorra Corporation manufactures lawnmowers in five work stations. Dorra's weekly demand is 5,000 mowers but Dorra can only produce 4,200. According to the theory of constraints, to increase production output Dorra would benefit the most by concentrating improvement efforts on the:
A. first work station.
B. last work station.
C. largest work station.
D. fastest work station.
E. slowest work station.

3-23. One of the steps in the lean thinking model is to organize work arrangements around the flow of the business process. This is often accomplished by:
A. automating the business process.
B. implementing an enterprise system.
C. instituting a six sigma program.
D. creating a manufacturing cell.

4-18. Managerial accounting:
A. has its primary emphasis on the future.
B. is required by regulatory bodies such as the SEC.
C. focuses on the organization as a whole, rather than on the organization's segments.
D. Responses a, b, and c are all correct.

5-20. Which of the following IS a characteristic of financial accounting?
A. not mandatory
B. must follow GAAP
C. emphasis on relevance of data, rather than precision
D. both A and C above

6-21. The corporate controller's salary would be considered a(n):
A. manufacturing cost.
B. product cost.
C. administrative cost.
D. selling expense.

7-22. The costs of direct materials are classified as:

[pic]
A. Choice A
B. Choice B
C. Choice C
D. Choice D

8-24. The three basic elements of manufacturing cost are direct materials, direct labor, and:
A. cost of goods manufactured.
B. cost of...

Similar Documents

Free Essay

Bpp Catelogue

...MULTIMEDIA LEARNING MATERIALS FROM THE EXPERTS PRODUCT CATALOGUE JANUARY 2012–JUNE 2012 BPP Learning Media has been producing high quality study materials for more than 30 years. We are the publisher of choice for students, tuition providers, companies and professional bodies in more than 150 countries worldwide. Using the expertise of our specialist authors and tutors, we have developed a range of innovative study aids in a variety of formats including web delivery, audio-visual products, CD-ROMs and books. Our products are designed to support a variety of different learning styles, ensuring all students make the most of their study time and successfully achieve their learning outcomes. This catalogue is your comprehensive guide to the qualifications we publish for and the learning materials we offer in support of those qualifications, together with our UK and overseas stockists directory. CONNECT WITH US bpp.com/learningmedia twitter.com/bpplm LinkedIn: BPP Learning Media Clients contents 04 ABoUt Us WhaT’s neW aT 12 BPP LeaRning MeDia 14 insTiTUTe OF LeaDeRshiP anD ManageMenT (iLM) 15 MeDiCaL seRies assOCiaTiOn OF BUsiness exeCUTives (aBe) 16 a BRanD neW 17 aPPROaCh a neW iDenTiTY 17 a neW PROPOsiTiOn 18 inFORMaTiOn FOR BOOKseLLeRs 20 WhOLesaLe ORDeRs 23 BeCOMe a sTOCKisT TUiTiOn PROviDeRs 24 TeRMs anD COnDiTiOns OF saLe RegiOnaL saLes ManageRs 24 CUsTOMeR seRviCes PRinTeD 25 PRODUCTs 26 sTUDY TexTs PRaCTiCe & RevisiOn KiTs 27 PassCaRDs 28 eLeCTROniC......

Words: 28023 - Pages: 113

Free Essay

Changing Our Lives

...College Credit Through Advanced Standing Produced by the Office of Academic Services This manual is accurate as of the date of publication. As new information becomes available, it will be posted to the online version, available through the Academic Services web site, www.nvcc.edu/aboutnova/directories--offices/administrative-offices/academic/index.html. Revised June 2012 Table of Contents INTRODUCTION ........................................................................................................... 3 PURPOSE .................................................................................................................................3 TYPES OF ADVANCED STANDING ...................................................................................................3 GENERAL PROCEDURES ...............................................................................................................4 EVALUATION RESPONSIBILITIES .....................................................................................................5 SECTION 1—CREDITS FROM POST-SECONDARY INSTITUTIONS ........................................ 7 GENERAL CONDITIONS ................................................................................................................7 GENERAL EDUCATION TRANSFER CREDIT FOR STUDENTS WITH PREVIOUS DEGREES ..................................9 EVALUATION OF INTERNATIONAL TRANSCRIPTS .....................................................................

Words: 11912 - Pages: 48

Premium Essay

Computer Assisted Instruction

...CHAPTER 1 THE PROBLEM AND ITS SETTING Introduction In the Philippines , most of the Filipinos experienced the modern technology of science. People now using the modern materials and machines all over the world and our country as well. The areas of modernization especially the communication and transportation gave big change of easiness of some hard and difficult works of Filipino people. The Laguna province shows progress not only in agriculture but also in industries. These changes and improvement were done through modern equipment. Different schools also improved their education with the help of these highly - technological equipment. In this 20th century, a years of information and revolution, computer appears as one of the most powerful all purpose and unique tool which is used in the world and also in our country nowadays. Computer is often use in companies, factories, hall, supermarkets, schools as well as in our house. It is said that using this tool makes work efficient, accurate, and with less effort. In companies, computer is used in business transactions, payrolls, inventories, and many more. Computer is also used at home for teaching and aids in attaining educational purpose for the benefits of the students. Computer can assist one in a particular......

Words: 6836 - Pages: 28

Free Essay

Handbook

...Bachelor of Arts in Business Economics STUDENT’S HANDBOOK 2011/2012 Lazarski University Warsaw, June 2011 1 Lazarski School of Commerce and Law Student’s Handbook- Bachelor of Arts in Business Economics Content Page 4 6 8 13 15 15 15 17 17 18 19 21 23 24 26 28 30 32 34 35 37 39 41 43 44 46 48 49 50 51 53 54 55 57 58 59 60 62 63 63 64 66 67 69 72 74 75 76 77 79 80 82 The Programme The Degree Assessment Quality Assurance Admission Procedures Erasmus Study in BABE Programme Administrative Issues Course Descriptors Mathematics Introductory Microeconomics Introduction to Sociology Current Issues of the European and Global Economy Academic Writing Introduction into Business Introductory Macroeconomics Introduction into Economic Analysis Economics of Integration Information Technology Intermediate Microeconomics Issues in Macroeconomic Policy Mathematical Economics Statistics Regional Economics Introduction to Strategic Management Banking and Finance International Business Law Research Proseminar Accounting Managerial Economics International Economics Intermediate Macroeconomics Econometrics Research Methods Social Policy Game Theory Public Finance Investment Analysis BA Seminar Electives Financial Accounting Monetary Theory and Policy - The Impact of Global Crisis Principles of Marketing The World Economy – Retrospective View The Small and Medium-Sized Enterprises (SME) Sector Economics of Telecommunication Demography and Economics of Contemporary European Migration......

Words: 47436 - Pages: 190

Premium Essay

Busienss Essentials

...innovative individuals We sell to 51 countries in Europe Our most popular qualification is ACCA, we sell our products in 168 countries We provide a wider range of CIMA exam material than any other publisher We sell to more than 350 institutions in the UK We sell to 37 countries in the Americas We sell our CIMA materials in 108 countries We sell to 52 countries in Asia We sell to 44 countries in Africa Our FIA products are sold in 145 countries Our global distributor network includes over 80 distributors present in every continent Welcome to BPP Learning Media At BPP Learning Media, we seek to inspire, enthuse and guide people from all walks of life on every step of their educational journey. We have a passion for imparting knowledge and improving lives through education. The fact you are reading our publications catalogue tells us you share that passion. Together, we can work to improve life and career aspirations across the world. The trusted publishing partner From our beginnings over 35 years ago, BPP Learning Media has become the benchmark for quality in professional education study materials. Today, tutors and students in more than 188 countries worldwide look to us as an essential support for success in accountancy, tax, financial services, business, management, marketing and medical exams. So trusted are our materials that...

Words: 27609 - Pages: 111

Premium Essay

Fdgfgfdg

...CHAPTER 1 ENVIRONMENT AND THEORETICAL STRUCTURE OF FINANCIAL ACCOUNTING Overview The primary function of financial accounting is to provide useful financial information to users external to the business enterprise. The focus of financial accounting is on the information needs of investors and creditors. These users make critical resource allocation decisions that affect the nation’s economy. The primary means of conveying financial information to investors, creditors, and other external users is through financial statements and related notes. In this chapter you explore important topics such as the FASB’s conceptual framework that serve as a foundation for a more detailed study of financial statements, the way the elements of these statements are measured, and the concepts underlying these measurements and related disclosures. Learning Objectives LO1–1 Describe the function and primary focus of financial accounting. LO1–2 Explain the difference between cash and accrual accounting. LO1–3 Define generally accepted accounting principles (GAAP) and discuss the historical development of accounting standards, including convergence between U.S. and international standards. LO1–4 Explain why the establishment of accounting standards is characterized as a political process. LO1–5 Explain factors that encourage high-quality financial reporting. LO1–6 Explain the purpose of the conceptual framework. LO1–7 Identify the objective and qualitative......

Words: 7130 - Pages: 29

Free Essay

Ethics Outline

...School of Accounting and Finance AFM 311: Connections to Ethical Context Spring 2015 Course Syllabus Course Instructors: Name: | Karen Wensley | Office Location: | HH383J | Telephone: | (shared office) | Email: | kwensley@uwaterloo.ca | Office Hours: | Monday 12:00 – 1:00 or 3:00 – 3:30, Thursday 9:30 – 10:00 or 2:00 – 3:00 or by appointment, email | Name: | Krista Fiolleau | Office Location: | HH 383K | Telephone: | X38166 | Email: | k2fiolle@uwaterloo.ca | Office Hours: | Wednesdays, 9 AM to 11 AM, by appointment, or email | Name: | Darren Charters | Office Location: | HH 3153 | Telephone: | 519-888-4567 extension 32570 | Email: | dcharters@uwaterloo.ca | Office Hours: | Wednesdays, 2:00pm – 4:00pm, by appointment, or email | Course Description: AFM 311 focuses on developing the qualities and transferable skills necessary for integration, continuous learning, and professional development. The course is oriented around the ethical and moral issues faced by accounting and finance professionals. Students are expected to have taken AFM 211 before taking AFM 311. As well, AFM 431 (a precursor course to this one) as well as PHIL 215/ARBUS 202 are anti-requisites to this course. If a student has taken one of those courses and hasn’t already spoken to Professor Charters (or someone else in the SAF) about this he/she should speak to the professor as soon as possible so an appropriate determination of how to proceed can occur. More......

Words: 5416 - Pages: 22

Free Essay

Dr Manger

...solutions manual / test bank INSTANTLY!!! http://solutionsmanualtestbanks.blogspot.com/2011/10/organizational-theory-d esign-and-change_18.html ----------------------------------------------------------------------Organizational Organizational Organizational Organizational Theory, Theory, Theory, Theory, Design, Design, Design, Design, and and and and Change Change Change Change Jones Jones Jones Jones 6th 6th 6th 6th Edition Edition Edition Edition Test Test Test Test Bank Bank Bank Bank -------------------------------------------------------------------------***THIS IS NOT THE ACTUAL BOOK. YOU ARE BUYING the Test Bank in e-version of the following book*** Name: Organizational Theory, Design, and Change Author: Jones Edition: 6th ISBN-10: 0136087310 Type: Test Bank - The test bank is what most professors use an a reference when making exams for their students, which means there’s a very high chance that you will see a very similar, if not exact the exact, question in the test! - The file is either in .doc, .pdf, excel, or zipped in the package and can easily be read on PCs and Macs. - Delivery is INSTANT. You can download the files IMMEDIATELY once payment is done. If you have any questions, please feel free to contact us. Our response is the fastest. All questions will always be answered in 6 hours. This is the quality of service we are providing and we hope to be your helper. Delivery is in the next moment. Test Bank is accurate. Buy now below and the DOWNLOAD......

Words: 29834 - Pages: 120

Premium Essay

Super Electronics Case

...ISSUES IN ACCOUNTING EDUCATION Vol. 27, No. 2 2012 pp. 461–474 American Accounting Association DOI: 10.2308/iace-50005 Super Electronics, Inc.: Financial Reporting of Sales Incentives and Vendor Allowances Using FASB Codification Mahendra R. Gujarathi ABSTRACT: Super Electronics, Inc., a specialty retailer, has recently initiated several sales incentives and has entered into a long-term purchase arrangement with a major vendor that entitles it to sliding discounts based on its level of purchases. Using FASB Accounting Standards Codification, you are to determine whether the Company’s existing policies comply with Generally Accepted Accounting Principles (GAAP). You are also required to evaluate the soundness of the proposals that SE’s management has made during the process of annual audit and explore plausible motivations behind them. The case provides an opportunity to examine several technical and conceptual accounting issues in a real-world setting, strengthen accounting research capabilities, understand implications of the choice of an accounting policy for performance measurement and financial statement analysis, and develop advanced critical thinking and professional judgment skills. Keywords: FASB codification; vendor allowances; customer loyalty programs; membership fees; price protection plans. CASE Company Overview uper Electronics, Inc. (SE or the Company) is a regional specialty retailer of consumer electronics, home office products, entertainment software,......

Words: 6053 - Pages: 25

Premium Essay

Cataolog

...or June each year. Yet most institutions of higher education operate on a nine-month school year with almost everyone graduating in May. We remained focused on your success and education, and continue to offer our students the opportunity to begin classes or to graduate four times a year with our flexible, year-round full-time schedule of classes. If you really want to attend a school where your needs (your real needs) come first, consider Sullivan University. I believe we can help you exceed your expectations. Since words cannot fully describe the atmosphere at Sullivan University, please accept my personal invitation to visit and experience our campus for yourself. Sincerely, Glenn D. Sullivan President MESSAGE FROM THE PRESIDENT 1 Table of Contents Mission Statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Sullivan University Success Story . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4...

Words: 103133 - Pages: 413

Premium Essay

Financial Accounting

...FFA PAPER F3 FINANCIAL ACCOUNTING BPP Learning Media is the sole ACCA Platinum Approved Learning Partner – content for FIA and ACCA qualifications. In this, the only FFA/F3 study text to be reviewed by the examiner:        We highlight the most important elements in the syllabus and the key skills you will need We signpost how each chapter links to the syllabus and the study guide We provide lots of exam focus points demonstrating what the examiner will want you to do We emphasise key points in regular fast forward summaries We test your knowledge of what you’ve studied in quick quizzes We examine your understanding in our exam question bank We reference all the important topics in our full index I N T E R A C T I V E T E X T BPP’s Practice & Revision Kit, i-Pass and Interactive Passcard products also support this paper. Note FIA FFA and ACCA Paper F3 are examined under the same syllabus and study guide. FOR EXAMS FROM FEBRUARY 2013 TO JANUARY 2014 FFA/F3 FINANCIAL ACCOUNTING First edition March 2011 Second edition September 2012 ISBN 9781 4453 9966 9 Previous ISBN 9781 4453 7305 8 eISBN 9781 4453 9242 4 British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library Published by BPP Learning Media Ltd BPP House, Aldine Place 142-144 Uxbridge Road London W12 8AA www.bpp.com/learningmedia Printed in the United Kingdom by Printers Polestar Wheatons Hennock Road Marsh Barton Exeter EX2 8RP Your...

Words: 166751 - Pages: 668

Premium Essay

Aau Catalog

...ALLIED AMERICAN UNIVERSITY Personalized. Flexible. Dedicated. Online Programs – Individual Support – Open Enrollment – Ease of Transfer Credits UNIVERSITY CATALOG 2013 Seventh Edition 22952 Alcalde Drive, Laguna Hills, CA 92653 Phone: (888) 384-0849 ∼ Fax: (949) 707-2978 7:00 A.M. – 5:00 P.M. (Monday – Friday) Email: info@allied.edu Website: www.allied.edu KEY STAFF AND FACULTY Charlotte Hislop, Ph.D. Candidate, President/CEO Bonny Nickle, Ed.D., Provost Eric Sharkey, M.Ed., Director of Education Bill Luton, Ph.D., Director of Assessment and Dean of Business Carlo Tannoury, Ph.D. Candidate, Dean of Computer Information Systems Patricia Drown, Ph.D., Dean of Criminal Justice and General Studies C.J. Bishop, M.B.A., Institutional Research Frank Vazquez, Operations Director Parrish Nicholls, J.D., Director of Compliance Lindsay Oglesby, Admissions Director Abby Dolan, B.A., Registrar Sasha Heard, M.B.A., Student Services Manager Barbara Jobin, B.S.B.A., Career Center Manager Hugo Aguilar, B.A., Chief Financial Officer Richard Madrigal, B.A., Financial Aid Officer As a prospective student at Allied American University, you are encouraged to review this catalog prior to signing an enrollment agreement. You are also encouraged to review the student performance fact sheet which must be provided to you prior to signing an enrollment agreement. This catalog is not a contract between the student, AAU, or any party or parties. Reasonable effort was made at the time this......

Words: 52297 - Pages: 210

Premium Essay

Master

...Chapter 1 Ethical Reasoning: Implications for Accounting Ethics Reflection PENN STATE CHILD ABUSE SCANDAL: A CULTURE OF INDIFFERENCE What motivates an otherwise ethical person to do the wrong thing when faced with an ethical dilemma? Why did Joe Paterno and administrators at Penn State University look the other way and fail to act on irrefutable evidence that former assistant football coach Jerry Sandusky had raped and molested young boys, an offense for which Sandusky currently is serving a 30- to 60-year sentence? According to the independent report by Louis Freeh that investigated the sexual abuse, four of the most powerful people at Penn State, including president Graham Spanier, athletic director Timothy Curley, senior vice president Gary Schultz, and head football coach Joe Paterno, sheltered a child predator harming children for over a decade by concealing Sandusky’s activities from the board of trustees, the university community, and authorities. The Freeh report characterizes the inactions as lacking empathy for the victims by failing to inquire as to their safety and wellbeing. Not only that, but they exposed the first abused child to additional harm by alerting Sandusky, who was the only one who knew the child’s identity, of what assistant coach Mike McQueary saw in the shower on the night of February  9, 2001.1 McQueary testified at the June  2012 trial of Sandusky that when he was a graduate assistant, he walked into the locker room and heard sounds of......

Words: 31231 - Pages: 125

Premium Essay

Global Leadership

...its relevance to the business world and ensure graduates are equipped to be leaders in finance, accounting and business advice. The CPA Program continues to be recognised as a leading professional program and receives strong endorsement by graduates. Over 75 000 members have completed the CPA Program to date. The CPA Program provides graduates with a world class, internationally recognised professional qualification. Employers need good strategists from a wide range of areas, whose skills are complemented by excellent business training. The CPA Program you are undertaking delivers top quality graduates who provide advice of the highest order to the business world. Approximately 23 000 CPA Australia members hold the position of General Manager, Financial Controller, Chief Financial Officer or Chief Executive Officer. CPA Australia strives to continually enhance the CPA Program’s global relevance and provide more ways for people to develop a career built on professional accounting skills. The CPA Program ensures candidates develop the appropriate skills, knowledge and values required of a CPA through a combination of coherent learning experiences. As shown in the following CPA Program diagram, the CPA Program formal education model consists of two levels: ■ The foundation level—core knowledge requirements that can be fulfilled through CPA Australia’s series of eight foundation exams or through an accredited or recognised higher-education degree program. ■ The professional......

Words: 32319 - Pages: 130

Premium Essay

Bcspack

...BSc (Hons) in Applied Accounting and Research and Analysis Project INFORMATION PACK 2012 - 2013 CONTENTS 1) 2) 3) About Oxford Brookes University ....................................................................... 1 Eligibility ............................................................................................................ 2 Conversion arrangements ................................................................................. 4 3.a) ACCA exam conversion arrangements ....................................................... 4 4) Aims and outcomes ........................................................................................... 5 4.a) 4.b) 4.c) Programme regulations ............................................................................... 5 Programme learning outcomes ................................................................... 6 RAP learning outcomes............................................................................... 7 5) Assessment ....................................................................................................... 9 5.a) 5.b) 5.c) 5.d) Marking and moderation of your work ......................................................... 9 Assessment criteria ..................................................................................... 9 Resubmission rules ................................................................................... 11 Determination of class of degree .........

Words: 25484 - Pages: 102