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ACC 291T Wk 4 – Practice Topic 11- An Example of an Internal Control—The Bank Reconciliation
- Exam (elaborations) • 3 pages • 2024
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1. What is petty cash? 
o Small amounts of cash kept for miscellaneous purposes 
o Cash used to offset the amounts owed to inventory suppliers 
o Cash required by banks to be kept on deposit 
o Cash used to pay for rent, insurance, and advertising 
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2. Debit memos from a bank reduce a depositor's cash balance, and credit memos increase the 
balance. This seems backwards from the normal debit-and-credit ru
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Wk 5 – Practice Topic 14 - Terminology Used for Planning,Control, and Evaluation Quick Check
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1. If a cost increases as the sales volume increases, the cost is a: 
o Fixed cost 
o Direct cost 
o Variable cost 
o Sunk cost 
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2. Which of the following has a direct materials inve
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ACC 291T Wk 4 – Practice Topic 11- An Example of an Internal Control—The Bank Reconciliation Quick Check
- Exam (elaborations) • 3 pages • 2024
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- $10.49
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1. What is petty cash? 
o Small amounts of cash kept for miscellaneous purposes 
o Cash used to offset the amounts owed to inventory suppliers 
o Cash required by banks to be kept on deposit 
o Cash used to pay for rent, insurance, and advertising 
FEEDBACK 
2 / 2 (100.0%) 
2. Debit memos from a bank reduce a depositor's cash balance, and credit memos increase t
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ACC 291T Wk 3 – Practice: Topic 9: Assessing How Well Companies Manage Their Inventories Quick Check 20 / 20 (100.00%)
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1. Which of the following factors are used in calculating a company’s inventory turnover? 
o Net sales and average inventory 
o Cost of goods sold and average working capital 
o Average inventory and cost of goods sold 
o Average accounts receivable and net sales 
FEEDBACK 
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2. Which of the following factors are used in calculating a company’s number of days’ sa
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ACC 291T Wk 3 – Practice Topic 7 - Budgeting Cash Outflows Quick Check
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1. At Teasdale Company, past experience reveals that 20% of sales are for cash and the remaining 80% are 
on credit. As the accountants at Teasdale Company prepare a cash budget, what will they do with these 
percentages? 
o Use the same percentages each month in order to maintain consistency. 
o Adjust the percentages over time as the company learns about its customers’ payment patterns 
o Use a higher percentage of credit sales in each month to reflect inflation. 
o Use a lower percentage of...
Too much month left at the end of the money?
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Wk 3 – Practice: Topic 9: Assessing How Well Companies ManageTheir Inventories Quick Check
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Wk 3 – Practice: Topic 9: Assessing How Well Companies ManageTheir Inventories Quick Check
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MANAGEMENT ACCOUNTING - Solutions Manual CHAPTER 14 FUNCTIONAL AND ACTIVITY-BASED BUDGETING
- Exam (elaborations) • 21 pages • 2024
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MANAGEMENT ACCOUNTING - Solutions Manual 
CHAPTER 14 
FUNCTIONAL AND ACTIVITY-BASED 
BUDGETING
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MANAGEMENT ACCOUNTING - Solutions Manual CHAPTER 11 COST ESTIMATION
- Exam (elaborations) • 30 pages • 2024
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. Questions 
1. a. Variable cost: A variable cost is one that remains constant on a per 
unit basis, but which changes in total in direct relationship to changes 
in volume. 
b. Fixed cost: A fixed cost is one that remains constant in total amount, 
but which changes, if expressed on a per unit basis, inversely with 
changes in volume. 
c. Mixed cost: A mixed cost is a cost that contains both variable and 
fixed cost elements. 
2. a. Unit fixed costs will decrease as volume increases. 
b. Unit v...
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MANAGEMENT ACCOUNTING- Solutions Manual CHAPTER 9 SYSTEMS DESIGN: ACTIVITY-BASED COSTING AND MANAGEMENT
- Exam (elaborations) • 14 pages • 2024
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I. Questions 
1. The three levels available are: Level 1, in which a company uses a 
plantwide overhead rate; Level 2, in which a company uses departmental 
overhead rates; and Level 3, in which a company uses activity-based 
costing. 
2. New approaches to costing are needed because events of the last few 
decades have made drastic changes in many organizations. Automation 
has greatly decreased the amount of direct labor required to manufacture 
products; product diversity has increased in that...
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MANAGEMENT ACCOUNTING- Solutions Manual CHAPTER 9 SYSTEMS DESIGN: ACTIVITY-BASED COSTING AND MANAGEMENT
- Exam (elaborations) • 14 pages • 2024
-
- $9.49
- + learn more
I. Questions 
1. The three levels available are: Level 1, in which a company uses a 
plantwide overhead rate; Level 2, in which a company uses departmental 
overhead rates; and Level 3, in which a company uses activity-based 
costing. 
2. New approaches to costing are needed because events of the last few 
decades have made drastic changes in many organizations. Automation 
has greatly decreased the amount of direct labor required to manufacture 
products; product diversity has increased in that...
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