Accounting 202 final exam - Study guides, Class notes & Summaries

Accounting 202 Final Exam Questions And 100% Correct Answers...

Accounting 202 Final Exam 2023 Questions and Answers| Graded A+ When activity based costing is used for internal decision making, the cost of idle capacity should be assigned to products. Correct Answer False, it shouldn't be assigned. Which of the following statements is NOT correct concerning the cash budget? a. It is not necessary to prepare any other budgets before preparing the cash budget. b. The cash budget should be prepared before the budgeted income statement. c. The cash b...

Proprietorship correct answers A small neighborhood barber shop that is operated by its owner would likely be organized as a Partners capital statement correct answers The owners equity statement for partnership is called the Number of shares issued are 60,000 correct answers A corporation has the following account balances: Common Stock, $1 par value, $60,000; Paid in Capital in excess of par, $1,300,000. Based on this information, the Paid in Capital in Excess of Par will be credited ...

Accounting 202 Final Exam Questions With Answers...

Accounting 202 Final Exam Questions and Answers 100% Solved When activity based costing is used for internal decision making, the cost of idle capacity should be assigned to products. - False, it shouldn't be assigned. Which of the following statements is NOT correct concerning the cash budget? a. It is not necessary to prepare any other budgets before preparing the cash budget. b. The cash budget should be prepared before the budgeted income statement. c. The cash budget should be...

CSU AREC 202 FINAL EXAM QUESTIONS AND ANSWERS ALREADY PASSED THE rule (and its variations): How is the optimal level of any activity (for consumers, firms or governments) determined? Marginal cost = marginal benefit On the 2x2 efficiency table: What effect on efficiency (total surplus) do government interventions have in a market in which originally the government had not intervened? Market works well - marginal benefit =marginal cost total surplus was maximized, and the governme...

AREC 202 (Kroll) Final Exam Actual Questions and Answers 2024 Opportunity Costs What you must give up in order to get a product or service. Economics is the study of? Choice What is the difference between micro and macro economics? Micro: the study of individual choice Macro: the study of the national economy What are sunk costs? Costs that have occurred in the past and cannot be recovered. What are marginal costs? the additional cost of conducting one more unit of the activity What...

ACC 202 Final Exam - Questions and Answers ABC systems create ________. A) one large cost pool B) homogeneous activity-related cost pools C) activity-cost pools with a broad focus D) activity-cost pools containing many direct costs Activity based costing system differs from traditional costing systems in the treatment of ________. A) direct labor costs B) direct material costs C) prime costs D) indirect costs The fundamental cost objects of ABC are ________. A) activities B) cost drivers C) pr...

AREC 202 (Kroll) Final Exam Actual Questions and Answers 2024 Opportunity Costs What you must give up in order to get a product or service. Economics is the study of? Choice What is the difference between micro and macro economics? Micro: the study of individual choice Macro: the study of the national economy What are sunk costs? Costs that have occurred in the past and cannot be recovered. What are marginal costs? the additional cost of conducting one more unit of the activity What...

WGU C213/WGU C213 ACCOUNTING FOR DECISION MAKERS FINAL EXAM STUDY GUIDE QUESTIONS AND CORRECT ANSWERS 2022-202 4 ALL 11 CHAPTERS QUESTIONS AND ANSWERS