Exam (elaborations)
Peregrine Exam|69 Questions & Answers
- Institution
- Peregrine Exam|69 Questions & Answers
Peregrine Exam|69 Questions & Answers
[Show more]
Content preview
Peregrine Exam|69 Questions & AnswersWhen the costs of supplies increase in an industry, the low cost leader_____ -
-is the only firm able to pay the higher prices and continue to earn average
or above average returns
-Accounts Payable - -current liability account in which a company records
the amounts it owes to suppliers or vendors for goods or services that it
recieved on credit
-accounts receivable - -current asset account in which a company records
the amounts it has a right to collect from customers who received goods or
services on credit
-what is the cost of goods sold? - -the total cost of merchandise sold during
a period
-owners equity - -one of the three main sections of a sole proprietorship's
balance sheet
-cash - -includes the following: currency and coins, checks received from
customers but not yet deposited, checking accounts, and petty cash
-cash equivalents - -short-term high liquidity investments with a maturity
date that was 3 months or less at the time of purchase. Ex) money market
accounts, U.S. Treasury Bills, and commercial paper
-when a business erroneously records expenses as assets, it has violated
the measurement of _____ - -classification
-lying by omission involves intentionally - -withholding material facts
-The Federal Highway Administration uses notice-and-comment rulemaking.
this process begins with - -the publication of a notice of proposed
rulemaking
-one way human resource planning links to strategic planning is by
providing a set of inputs into the ______ - -strategy formulation process
-which of the following is not one of W. Edwards Deming's 14 points? - -the
only performance standard is zero defects
-operating statement is another name for the ______ - -Income Statement
, -Purchases, returns and allowances, and purchase discounts are classified as
_______ on the income statement - -contra-cost accounts
-law of supply - -states that the quantity of a good supplied (I.E. the amount
owners or producers offer for sale) rises as the market price rises, and falls
as the price falls
-population sampling - -the process of taking a subset of subjects that is
representative of the entire population. the sample must have sufficient size
to warrant statistical analysis
-what is principles of accounting - -the broad underlying concepts which
guide accountants when preparing financial statements
-what is equity? - -it indicates an ownership interest in a business
-what is meant by reconciling an account? - -it is likely to mean proving or
documenting that an account balance is correct
-implicit cost - -any cost that has already occurred but not necessarily
shown or reported as a separate expense
-explicit cost - -normal business costs that appear in the general ledger and
directly affect a company's profitability
-stocks - -shares of ownership in a company
-bonds - -Certificates of debt that carry a promise to buy back the bonds at
a higher price
-an increase in ______ will increase owners equity - -client fees
-a dividend will reduce ______ - -retained earnings
-conflicts of interest exist when employees must choose whether to - -
advance their own interests, those of the organization, or those of some
other gtoup
-TQM is most helpful to firms following the ______ business strategy - -
integrated cost-leadership differentiation
-which of the following is not considered an extrinsic motivator in Herzberg's
two-factor theory - -work itself
-which of the following is not one of the process motivation theories? - -
acquired needs theory
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Victorious23. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £6.87. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
61005 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now