Acc/561 Sample Final Examination 2 Essay

1377 Words May 10th, 2011 6 Pages
ACC/561 Sample Final Examination

This Sample Examination represents the Final Examination that students complete in Week Six. As in the following Sample Examination, the Final Examination includes questions that assess the course objectives. Although the Sample Examination includes one question per objective, the Final Examination includes three questions per course objective.

Refer to the questions in the following Sample Examination to represent the type of questions that students will be asked in the Final Examination. Refer students to the weekly readings and content outlines for each week as study references for the Final Examination.

Week One: Decision Making

Objective: Explain the role of budgets and performance reports
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8. Zachary Company wishes to earn after-tax net income of $18,000. Total fixed costs are $84,000, and the contribution margin per unit is $6. Zachary’s tax rate is 40%. The number of units that must be sold to break even is __________.
a. 0 14,000 units
b. 0 17,000 units
c. 0 19,000 units
d. 0 21,500 units

Objective: Compare and contrast the different methods of measuring cost functions.

9. One of the simplest methods to measure a linear cost function from past data is the __________.
a. 0 regression analysis method
b. 0 high low method
c. 0 least squares regression method
d. 0 visual-fit method

Objective: Explain how cost accounting systems are used to determine the cost of a product, service, customer, or other cost objective.

10.__________ is the part of the accounting system that measures costs for the purposes of management decision-making and financial reporting.
a. 0 Cost determination
b. 0 Cost accounting
c. 0 Cost accumulation
d. 0 Cost summary

Week Four: Budgets

Objective: Explain the major components, advantages, and disadvantages of a master budget.

11. The financial budget includes __________.
a. 0 only the capital budget and the cash budget
b. 0 only the capital budget and the budgeted balance sheet
c. 0 the capital budget, the cash budget, and the budgeted balance sheet
d. 0 the cash

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