Acct505 - Study guides, Class notes & Summaries
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4 SETS ACCT505 MIDTERM EXAM
- Exam (elaborations) • 24 pages • 2021
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4 SETS ACCT505 MIDTERM EXAMQUESTION 1: 
Wages paid to a timekeeper in a factory are a: 
• Prime Cost YES.....Conversion Cost NO 
• Prime Cost YES.....Conversion Cost YES 
• Prime Cost NO....Conversion Cost NO 
• Prime Cost NO.....Conversion Cost YES 
QUESTION 2: 
A cost incurred in the past that is not relevant to any current decision is classified as a(n): 
• period cost. 
• opportunity cost. 
• sunk cost. 
• differential cost. 
QUESTION 3: 
Inventoriable costs are also known as...
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ALL 4 SETS ACCT505 MIDTERM EXAM
- Exam (elaborations) • 24 pages • 2021
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ALL 4 SETS ACCT505 MIDTERM EXAM
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ALL 4 SETS ACCT505 MIDTERM EXAM
- Exam (elaborations) • 24 pages • 2021
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- $7.49
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ALL 4 SETS ACCT505 MIDTERM EXAM
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4 SETS ACCT505 MIDTERM EXAM
- Exam (elaborations) • 24 pages • 2021
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4 SETS ACCT505 MIDTERM EXAM ALL AC505 Week 4 Midterm SET 1 QUESTION 1: Wages paid to a timekeeper in a factory are a: • Prime Cost YES.....Conversion Cost NO • Prime Cost YES.....Conversion Cost YES • Prime Cost NO....Conversion Cost NO • Prime Cost NO.....Conversion Cost YES QUESTION 2: A cost incurred in the past that is not relevant to any current decision is classified as a(n): • period cost. • opportunity cost. • sunk cost. • differential cost. QUESTION 3: Inventoriable cost...
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ACCT505 Midterm Exam 4 Sets
- Exam (elaborations) • 23 pages • 2021
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ACCT505 Midterm Exam 4 Sets 
ALL AC505 Week 4 Midterm 
SET 1 
QUESTION 1: 
Wages paid to a timekeeper in a factory are a: 
 Prime Cost YES.....Conversion Cost NO 
 Prime Cost YES.....Conversion Cost YES 
 Prime Cost NO....Conversion Cost NO 
 Prime Cost NO.....Conversion Cost YES 
QUESTION 2: 
A cost incurred in the past that is not relevant to any current decision is classified as a(n): 
 period cost. 
 opportunity cost. 
 sunk cost. 
 differential cost. 
QUESTION 3: 
I...
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Exam (elaborations) Acct 505 Federal Tax Final Exam (ACCT505)
- Exam (elaborations) • 10 pages • 2021
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- $8.99
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Exam (elaborations) Acct 505 Federal Tax Final Exam (ACCT505) 
Keller Graduate School of Management 
AC551 Federal Taxes and Decisions 
Final Exam – Professor Abner 
TRUE-FALSE QUESTIONS—CHAPTER 10 
1. Terry Trumbull purchased a tract of land. In order to have city water, he had to pay the water 
company $5,000 to extend the water line to his property. The $5,000 cost is an addition to the 
basis of the land. TRUE 
2. When property that is subject to an existing debt is purchased, the basis...
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4 SETS ACCT505 MIDTERM EXAM
- Exam (elaborations) • 24 pages • 2021
-
- $15.49
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4 SETS ACCT505 MIDTERM EXAM 
ALL AC505 Week 4 Midterm 
SET 1 
QUESTION 1: 
Wages paid to a timekeeper in a factory are a: 
• Prime Cost YES.....Conversion Cost NO 
• Prime Cost YES.....Conversion Cost YES 
• Prime Cost NO....Conversion Cost NO 
• Prime Cost NO.....Conversion Cost YES 
QUESTION 2: 
A cost incurred in the past that is not relevant to any current decision is classified as a(n): 
• period cost. 
• opportunity cost. 
• sunk cost. 
• differential cost. 
QUESTION 3: 
In...
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4 SETS ACCT505 MIDTERM EXAM
- Exam (elaborations) • 24 pages • 2021
-
- $14.49
- + learn more
4 SETS ACCT505 MIDTERM EXAM
-
4 SETS ACCT505 MIDTERM EXAM
- Exam (elaborations) • 24 pages • 2021
-
- $14.99
- + learn more
4 SETS ACCT505 MIDTERM EXAM
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