Acct 301 Week 3 and Week 6 Quiz Essay
ACCT 301 Week 3 Quiz1. Question : (TCO 1) Which of the following would not be considered an external user of accounting data for XYZ Company?
2. Question : (TCO 1) The cost of assets consumed or services used is also known as _________.
3. Question : (TCO 1) The financial statement that summarizes the changes in retained earnings for a specific period of time is the _____.
4. Question : (TCO 1) Pinson Company began the year with retained earnings of $210,000. During the year, the company recorded revenues of $300,000, expenses of $228,000, and paid dividends of $24,000. What was Pinson’s retained …show more content…
12. Question : (TCO 2) A trial balance would only help in detecting which one of the following errors?
13. Question : (TCO 3) From an internal control standpoint, the asset most susceptible to improper diversion and use is _________
14. Question : (TCO 3) Ron Jones has been a trusted employee for over 10 years. He is responsible for ordering merchandise inventory, receiving the inventory items, and authorizing the payment for these items. Which internal control principle, if any, is being violated?
15. Question : (TCO 3) A check written by the company for $167 is incorrectly recorded by a company as $176. On the bank reconciliation, the $9 error should be _________
ACCT 301 Week 6 Quiz
1. Question: (TCO 9) Which one of the following stages of the management decision-making process is properly sequenced?
2. Question: (TCO 9) When is incremental analysis most useful?
3. Question: (TCO 9) Which of the following will never be a relevant cost?
4. Question: (TCO 9) A company is deciding whether or not to replace some old equipment with new equipment. Which of the following is not considered in the incremental analysis?
5. Question: (TCO 9) It costs Lannon Fields $14 of variable costs and $6 of allocated fixed costs to produce an industrial trash can that sells for $30. A buyer