ACCT 301 Week 6 Quiz

ACCT 301 Week 6 Quiz

2. (TCO 9) When is incremental analysis most useful?

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3. (TCO 9) Which of the following will never be a relevant cost?

4. (TCO 9) A company is deciding whether or not to replace some old equipment with new equipment. Which of the following is not considered in the incremental analysis?

5. (TCO 9) It costs Lannon Fields $14 of variable costs and $6 of allocated fixed costs to produce an industrial trash can that sells for $30. A buyer in Mexico offers to purchase 2,000 units at $18 each. Lannon has excess capacity and can handle the additional production. What effect will acceptance of the offer have on net income?

6. (TCO 9) Wishnell Toys can make 1,000 toy robots with the following costs:

7. (TCO 9) All of the following are relevant to the sell or process-further decision, except for __________.

8. (TCO 8) Most of the capital budgeting methods use __________.

9. (TCO 8) The capital budgeting decision depends in part on the __________.

10. (TCO 8) The cash-payback technique __________.

11. (TCO 8) All of the following statements about intangible benefits in capital budgeting are correct, except that they __________

12. (TCO 8) The profitability index __________.

13. (TCO 8) Post audits of capital projects __________.

14. (TCO 8) A company has a minimum required rate of return of 9% and is considering investing in a project that costs $50,000 and is expected to generate cash inflows of $20,000 at the end of each year for 3 years. The profitability index for this project is __________

15. (TCO 8) Disadvantages of the annual rate of return method include all of the following, except that____

TCO 2) A trial balance would only help in detecting which one of the following errors?

13. (TCO 3) From an internal control standpoint, the asset most susceptible to improper diversion and use is _________

14. (TCO 3) Ron Jones has been a trusted employee for over 10 years. He is responsible for ordering merchandise inventory, receiving the inventory items, and authorizing the payment for these items. Which internal control principle, if any, is being violated?

15. (TCO 3) A check written by the company for $167 is incorrectly recorded by a company as $176. On the bank reconciliation, the $9 error should be _________