Solutions for Government and Not-for-Profit Accounting: Concepts and Practices, 9th Edition;9781119803898 ; by Granof
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Course
CGAP - Certified Government Auditing Professional
Institution
CGAP - Certified Government Auditing Professional
Book
Government and Not-for-Profit Accounting
Complete Solutions Manual for Government and Not-for-Profit Accounting: Concepts and Practices, 9th Edition 9e by Michael H. Granof, Saleha B. Khumawala, Thad D. Calabrese. ISBN-13: 3898 1 The Government and Not- for- Profit Environment 1 How Do Governments and Not- For- Profits Compare With Busine...
Test Bank for Government And Not For Profit Accounting Concepts And Practices 9th Edition by Michael H. Granof
Test Bank for Government And Not For Profit Accounting Concepts And Practices 9th Edition by Michael H. Granof
Test Bank for Government And Not For Profit Accounting Concepts And Practices 9th Edition Michael H. Granof
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CGAP - Certified Government Auditing Professional
CGAP - Certified Government Auditing Professional
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,CHAPTER 1: INTRODUCTION TO COST ACCOUNTING
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.
ANSWER: a
RATIONALE: The business entity that converts purchased raw materials into finished goods by using labor,
technology, and facilities is a manufacturer.
POINTS: 1
DIFFICULTY: Easy
M
LEARNING OBJECTI PRIN.EDWA.16.1 - Introduction
VES:
ACCREDITING STAN AACSB Analytic
DARDS: ACCT.AICPA.FN.03 - Measurement
E
BUSPROG.03 - Analytic
IMA-Business Applications
OTHER: Bloom's: Remembering
2. The business entity that purchases finished goods for resale is a:
a. Manufacturer.
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b. Merchandiser.
c. Service business.
d. Wholesaler.
E
ANSWER: b
RATIONALE: The business entity that purchases finished goods for resale is a merchandiser.
POINTS: 1
E
DIFFICULTY: Easy
LEARNING OBJECTIVES PRIN.EDWA.16.1 - Introduction
:
K
3. The type of merchandiser who purchases goods from the producer and sells them to retailers that sell them to the
consumer is a:
a. Manufacturer.
b. Retailer.
c. Wholesaler.
d. Service business.
ANSWER: c
RATIONALE: A wholesaler purchases goods from the producer and sells them to the retailer.
POINTS: 1
DIFFICULTY: Easy
Cengage Learning Testing, Powered by Cognero Page 1
4. Examples of service businesses include:
a. Airlines, accountants, and hair stylists.
b. Department stores, poster shops, and wholesalers.
M
c. Aircraft producers, home builders, and machine tool makers.
d. None of these are correct.
ANSWER: a
RATIONALE: Examples of service businesses include airlines, architects, and hair stylists.
E
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTI PRIN.EDWA.16.1 - Introduction
VES:
ACCREDITING STAN AACSB Reflective Thinking
DARDS: ACCT.AICPA.FN.03 - Measurement
D
G
BUSPROG.06 - Reflective Thinking
IMA-Business Applications
OTHER: Bloom's: Understanding
E
5. ISO 9000 is a set of international standards for:
a. determining the selling price of a product.
E
b. cost control.
c. quality management.
d. delivering product,
K
ANSWER: c
RATIONALE: ISO 9000 is a set of international standards for quality management.
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: PRIN.EDWA.16.1 - Introduction
6. Unit cost information is important for making all of the following marketing decisions except:
a. Determining the selling price of a product.
b. Bidding on contracts.
c. Determining the amount to spend on social media to promote the product.
Cengage Learning Testing, Powered by Cognero Page 2
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