Decreases Remains constant • Remains constant Decreases Want help? Click to download ACC 561 Week 4 Quiz 3. A fixed cost is a cost which • remains constant per unit with changes in the level of activity. • remains constant in total with changes in the level of activity. • varies inversely in total with changes in the level of activity. • varies in total with changes in the level of activity. 4. Hollis Industries produces flash drives for computers, which it sells for $20 each. Each
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it meets its objectives. 2. A common starting point in the budgeting process is • a clean slate, with no expectations. • expected future net income. • past performance. • to motivate the sales force. Want more details? Download now ACC 561 Week 5 Quiz 3. Which of the following statements about budget acceptance in an organization is true? • The most widely accepted budget by the organization is the one prepared by top management. • Budgets are hardly ever accepted by anyone except top
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help? Click to download ACC 561 Week 2 Quiz 3. Current assets divided by current liabilities is known as the • capital structure. • working capital • current ratio. • profit margin. 4. Danner Corporation reported net sales of $600,000, $680,000, and $800,000 in the years 2011, 2012, and 2013, respectively. If 2011 is the base year, what percentage do 2013 sales represent of the base? • 33% • 133% • 75% • 113% Want help? Click to download ACC 561 Week 4 Quiz 5 .An analyzing financial
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Most business enterprises in the United States are • government units. • partnerships. • proprietorships and partnerships. • corporations. Want more details? Download now ACC 561 Week 1 Quiz 3. A business organized as a separate legal entity is • government unit. • partnership. • corporation. • proprietor. 4. Which of the following is the best definition of an internal user of accounting information? • Creditors like banks that use accounting information to evaluate the risk of
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systems. Quiz Answers just a click away ACC 561 Week 3 Quiz 3. A process cost system would most likely be used by a company that makes • breakfast cereal. • motion pictures. • college graduation announcements. • repairs to automobiles. 4. Which of the following would be accounted for using a job order cost system? • The refining of petroleum. • The production of automobiles. • The production of personal computers. • The construction of a new campus building. Quiz Answers just
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3 711 Chapter Tax Accounting TRUE-FALSE QUESTIONSCHAPTER 13 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. A partnership may adopt any tax year without IRS permission. A corporation ling its rst return must annualize its income if the tax period is less than 12 months. A taxable year may be as short as one day and may exceed 366 days. Under no circumstances may a corporation change its scal year without IRS permission. A taxpayer engaged in two or more separate and distinct businesses
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