Acct 505 Study guides, Class notes & Summaries
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ACCT 505 FINAL EXAM GUIDE (NEW) SET 3
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ACCT 505 FINAL EXAM GUIDE 
(NEW) SET 3
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Test Bank For College Accounting A Career Approach 12e Cathy J Scott
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Chapter 03 
1. Which of the following is/are not true about a proper journal entry? 
a. An explanation is needed immediately after each debit and immediately after each 
credit. 
b. All credits are indented. 
c. A debit is never indented, even if a liability or owner's equity account is involved. 
d. All debits are listed before the first credit. 
e. In a compound entry, the largest amounts are listed first. 
ANSWER: 
POINTS: 
DIFFICULTY: 
LEARNING OBJECTIVES: NATIONAL STANDARDS: STATE STANDARD...
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Land & Nature Jerky Analysis Individual Assignment Please be sure to show your work (points will depend upon my being able to tell what you did). 1) (6 points) We went over incremental revenue to cost in class. Please compute the ratios for 2018
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Land & Nature Jerky Analysis 
Individual Assignment 
 
Please be sure to show your work (points will depend upon my being able to tell what you did). 
 
1) (6 points) We went over incremental revenue to cost in class. Please compute the ratios for 
2018 for a) trade promotions and b) consumer promotions. Please compare each to the industry 
average. 
 
2) (5 points) We went over the Return-on-Marketing-Investment (ROMI) in class. 
Please provide the ROMI for 2018 and 2019 for BOTH tr...
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ACCT 505 WEEK2 QUIZ
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ACCT 505 WEEK2 QUIZ
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ACCT 505 WEEK 8: FINAL EXAM GUIDE
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ACCT 505 WEEK 8: FINAL EXAM GUIDE 
1. (TCO E) Complying with regulations is a(n) (Points : 5) 
 batch-level activity. 
 product-level activity. 
 unit-level activity. 
 organization sustaining activity. 
2. (TCO G) Given the following data, what would ROI be? 
Sales $90,000 
Net operating income $18,000 
Contribution margin $40,000 
Average operating assets $100,000 
Stockholder's equity $250,000 
(Points : 5) 
 7.2% 
 20.0% 
 18.0% 
 44.4% 
Page 2 
1. (TCO C) Madlem, Inc., produces and sells a...
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ACCT 505 MIDTERM EXAM QUESTIONS AND ANSWERS
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ACCT 505 MIDTERM EXAM 
QUESTIONS AND ANSWERS 
1. Question : (TCO A) Direct material cost is a part of 
Student Answer: 
Conversion Cost NO.... Prime Cost NO. 
Conversion Cost YES.... Prime Cost NO. 
Conversion Cost YES.... Prime Cost YES. 
Conversion Cost NO.... Prime Cost YES. 
Instructor 
Explanation: 
See Chapter 2. 
Question 2. Question : (TCO A) A cost incurred in the past that is not relevant to any current 
decision is classified as a(n) 
Student Answer: 
period cost. 
incremental cost...
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ACCT 505 FINAL EXAM.
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ACCT 505 FINAL EXAM. 
Question 1.1. (TCO E) Installing a custom logo on a boat is a(n) (Points : 10) 
 batch-level activity. 
 product-level activity. 
 unit-level activity. 
 organization sustaining activity. 
Question 2.2. (TCO G) Given the following data, what would ROI be? 
Sales $70,000 
Net operating income $10,000 
Contribution margin $20,000 
Average operating assets $50,000 
Stockholder's equity $25,000 
(Points : 10) 
 28.6% 
 20.0% 
 40.0% 
 50.0% 
Page 2 
Question 1.1. (TCO C) Aziz ...
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ACCT 505 WEEK 4 MIDTERM EXAM ANSWERS
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ACCT 505 WEEK 4 MIDTERM EXAM 
ANSWERS 
1. Question : (TCO A) Wages paid to an assembly line worker 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. 
: Chapter 2
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REVISED FUNDAMENTALS NCLEX QUESTIONS AND ANSWERS
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EVALUATED ACCT 505 
EXAMINATION QUESTIONS 
Many individuals are apprehensive about using the Internet to purchase items. This apprehension mainly 
arises from users' concerns about: 
a. a lack of security for information transmitted over the Internet. 
b. the lack of CPA involvement in Internet company financial information. 
c. the time delays in Internet purchases. 
d. the reliability of computer technology. - CORRECT ANSWER -a. a lack of security for information 
transmitted over the Inte...
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Fundamental Payroll Certification 88 Questions with Verified Answers Spring 2023,100% CORRECT
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Fundamental Payroll Certification 88 Questions with Verified Answers Spring 2023 
 
2 separate w-3's - CORRECT ANSWER Form 1096 
 
1 consolidated Form w-3 
 
Form 8279 
 
2 separate w-3's 
 
general valuation rule - CORRECT ANSWER actual market value 
 
actual cash value 
 
general valuation rule 
 
implied benefit rule 
 
employee - CORRECT ANSWER Independent contractor 
 
w-4 exempt 
 
employee 
 
exempt from FLSA 
 
$150 - CORRECT ANSWER $0 
 
$150 
 
$165 
 
$210 
 
written authorization -...
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