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A+BUS 475 Final Exam 5th Set 100 Questions with Answers

A+BUS 475 Final Exam 5th Set 100 Questions with Answers

BUS 475 Final Exam 5th Set 100 Questions with Answers


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


Closing entries are necessary for __________.


A. temporary accounts only


B. permanent accounts only


C. permanent or real accounts only


D. both permanent and temporary accounts


Read more: http://blog.accountingcoach.com/closing-entries-2/


2) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?


A. General corporate liability insurance


B. Factory janitor


C. The western division’s vice president’s salary


D. Cost of landscaping the corporate office


Read more: http://www.investorwords.com/2942/manufacturing_overhead.html


3) Which list below best describes the major services performed by public accountants?


A. Employee training, auditing, bookkeeping


B. Bookkeeping, mergers, budgets

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