BUS 475 FINAL EXAM GUIDE 4
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BUS 475 FINAL EXAM GUIDE 4
BUS 475 Final Exam Guide 4
1) The income statement and balance sheet columns of Pine Company’s worksheet reflects the following totals:
Income Statement Balance Sheet
Dr. Cr. Dr. Cr.
Totals $58,000 $48,000 $34,000 $44,000
To enter the net income (or loss) for the period into the above worksheet requires an entry to the __________.
2) Multinational corporations __________.
3) Balance sheet accounts are considered to be __________.
4) What is value chain management best defined as?
5) The primary purpose of the statement of cash flows is to __________.
6) In what situations will a static budget be most effective in evaluating a manager’s effectiveness?
8) These are selected account balances on December 31, 2008.
Land (location of the corporation’s office building) $100,000
Land (held for future use) 150,000
Corporate Office Building 600,000
Inventory 200,000
Equipment 450,000
Office Furniture 100,000
Accumulated Depreciation 300,000
What is the net amount of property, plant, and equipment that will appear on the balance sheet?
9) Of the following companies, which one would not likely employ the specific identification method for inventory costing?
11) Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company’s net income increase?
12) The cost principle requires that when assets are acquired, they be recorded at __________.
13) Which one of the following items is not generally used in preparing a statement of cash flows?
14) Managerial accounting __________.
15) A logical starting point from which the study of international trade...