000 units february 17 - Study guides, Class notes & Summaries

TEAS Test Study Guide with Practice Questions 1. If Lynn can type a page in p minutes, what piece of the page can she do in 5 minutes? A. 5/p B. p - 5 C. p + 5 D. p/5 E. 1- p + 5 2. If Sall y can paint a house in 4 hours, and John can paint the same house in 6 hour, how long will it take for both of them to paint the house together? A. 2 hours and 24 minutes B. 3 hours and 12 minutes C. 3 hours and 44 minutes D. 4 hours and 10 minutes E. 4 hours and 33 minutes 3. Employees of a discount applianc...

Econ 121 Final Exam Review ● Chapter 1 Quick Check: 1. Accounting is the information system that… 2. Which of the following is not an external user of a business’s financial system? 3. Generally Accepted Accounting Principles (GAAP) are currently formulated by the… 4. Which type of business organization is owned by only one owner? 5. Which of the following characteristics best describes a corporation? 6. Which of the following requires accounting information to be complete, ne...

CHAPTER 1—INTRODUCTION TO COST ACCOUNTING MULTIPLE CHOICE 1. The business entity that converts purchased raw materials into finished goods by using labor, technology, and facilities is a: a. Manufacturer. b. Merchandiser. c. Service business. d. Not-for-profit service agency. ANS: A The business entity that converts purchased raw materials into finished goods by using labor, technology, and facilities is a manufacturer. PTS: 1 DIF: Easy REF: P. OBJ: Introduction NAT: IMA 4 - Busine...

Which one of the following cannot be a cost object? (1) The Western Cape region of an organisation that has operations in each of the nine provinces in South Africa. (2) The sales value of one unit of a particular product. (3) An order from a customer for 50 000 units of an organisation’s product. (4) A construction project undertaken on behalf of the South African Government. QUESTION 2 Which one of the following cannot be both a manufacturing cost and a variable cost? (1) Dire...