Acct 2301 - Study guides, Class notes & Summaries

Which of the following is not a characteristic of job-order costing? a. Wide variety of distinct products. b. Unit cost is computed by dividing process costs of the period by the units produced in the period. c. Unit cost is computed by dividing total job costs by units produced on that job. d. Costs accumulated by job. e. Typically, the cost of one job is different from that of another job. - b. Unit cost is computed by dividing process costs of the period by the units produced in the pe...

Accounting ACCT 2301 Financial Statements - correct answerThe business documents that companies use to report the results of their activities to various user groups, which can include managers, investors, creditors, and regulatory agencies. What are the four basic financial statements - correct answerIncome statement (statement of operations) Statement of retained earnings Balance Sheet (statement of financial position) Statement of cash flows What is accounting - correct answerIt ...

ACCT 2301 Introduction to Managerial Accounting Brewer 6th Edition 2022. Introduction to Managerial Accounting Brewer 6th Edition Test Bank Click here to download the solutions manual / test bank INSTANTLY!!! Name: Introduction to Managerial Accounting Author: Brewer Garrison Noreen Edition: 6th ISBN­10: 9 Type: Test Bank This is a sample chapter c h 0 1 Student: 1.Direct material costs are generally variable costs. True False 2.Property taxes and insurance premiums paid on ...

ACCT 2301 Introduction to Managerial Accounting Brewer 6th Edition 2022. Introduction to Managerial Accounting Brewer 6th Edition Test Bank Click here to download the solutions manual / test bank INSTANTLY!!! Name: Introduction to Managerial Accounting Author: Brewer Garrison Noreen Edition: 6th ISBN­10: 9 Type: Test Bank This is a sample chapter c h 0 1 Student: 1.Direct material costs are generally variable costs. True False 2.Property taxes and insurance premiums paid on a...

ACCT 2301 Introduction to Managerial Accounting Brewer 6th Edition 2022. Introduction to Managerial Accounting Brewer 6th Edition Test Bank Click here to download the solutions manual / test bank INSTANTLY!!! Name: Introduction to Managerial Accounting Author: Brewer Garrison Noreen Edition: 6th ISBN­10: 9 Type: Test Bank This is a sample chapter c h 0 1 Student: 1.Direct material costs are generally variable costs. True False 2.Property taxes and insurance premiums paid on a...

Acct. 2301 Exam 3 with Questions and Answers trademark ANSWER an asset that represents distinctive identifications of a product or service asset turnover ratio ANSWER net sales / average assets land improvement cost examples ANSWER fencing, sprinklers, paving, signs, and lighting cost of a plant asset ANSWER amounts paid to make the asset ready for its intended use obsolete asset ANSWER when a newer asset can perform the job more efficiently than the old asset can items to be a...

Final Exam (BCOR 2301) 2023 Questions and Answers Consideration The value given in return for a promise or performance in a contractual agreement. 1. Something of LEGALLY SUFFICIENT VALUE must be given in exchange for the promise. 2. There must be a BARGAINED-FOR-EXCHANGE. Legal Sufficient Value Something of value in the eyes of the law; may be: - Promise [to do something] e.g. pay supplier upon receiving goods - Performance [of an action otherwise not obligated to] e.g. prov...

Final Exam (BCOR 2301) 2023 Questions and Answers Consideration The value given in return for a promise or performance in a contractual agreement. 1. Something of LEGALLY SUFFICIENT VALUE must be given in exchange for the promise. 2. There must be a BARGAINED-FOR-EXCHANGE. Legal Sufficient Value Something of value in the eyes of the law; may be: - Promise [to do something] e.g. pay supplier upon receiving goods - Performance [of an action otherwise not obligated to] e.g. prov...

Final Exam (BCOR 2301) 2023 Questions and Answers Consideration The value given in return for a promise or performance in a contractual agreement. 1. Something of LEGALLY SUFFICIENT VALUE must be given in exchange for the promise. 2. There must be a BARGAINED-FOR-EXCHANGE. Legal Sufficient Value Something of value in the eyes of the law; may be: - Promise [to do something] e.g. pay supplier upon receiving goods - Performance [of an action otherwise not obligated to] e.g. prov...

Final Exam (BCOR 2301) 2023 Questions and Answers Consideration The value given in return for a promise or performance in a contractual agreement. 1. Something of LEGALLY SUFFICIENT VALUE must be given in exchange for the promise. 2. There must be a BARGAINED-FOR-EXCHANGE. Legal Sufficient Value Something of value in the eyes of the law; may be: - Promise [to do something] e.g. pay supplier upon receiving goods - Performance [of an action otherwise not obligated to] e.g. prov...