Business Accounting MCQ Questions Answers

1. The clothing and accessories at new fashion stores, inc. are an example of ________ assets.

2. The distribution of a stock dividend ________.

3. __________ pricing tactics lower the price of a product below the store's cost.

4. ________ represents a debt owed for renting a building currently.

5. An organization with a low-commitment approach is likely to _______________________.

6. A high rate of employee turnover indicates that ________.

7. A disadvantage of using ________ as an advertising medium is their short life span.

8. A consultation with a world-famous surgeon is an example of a(n) ________ service.

9. A computer program that imitates human thinking is a(n) ________.

10. _____ involves reducing the number of employees to cut costs.

11. The ratio of cash to monthly cash expenses can be used to _____.

12. The proportion of assets that are financed with debt can be calculated using the ________ ratio.

13. Molding and sanding each unit of product would most likely be classified as a ________ cost.

14. Lean manufacturing ___________ productivity.

15. A tax adjustment must be made in determining the cost of ________.

16. A reference value involves comparing the costs and benefits of __________.

17. A recent gallup study reported that firms with top engagement scores had _____ higher productivity.

18. An advertisement that emphasizes crash test ratings appeals to the audience's desire for _____.

19. The primary difference between soc 2 and soc 3 reports is ________.

20. One of the key enhancements in ____ is energy efficiency.

21. The role of the board of directors in an organization is to _____.

22. The number of newspapers sold on may 30 would be kept in a ________ field.

23. Soc 2 and soc 3 reports both address primarily ________-related controls.

24. One of the best techniques for determining current network capacities is creating a ____.

25. In a zero-sum game, the overall return actually becomes ____ if transaction costs are included.

26. The exclusion of implied warranties in general states that _____.

27. ________ = cash on hand + cash receipts - cash disbursement.

28. When demand is elastic, a price increase will __________ total revenues.

29. When bonds are retired at maturity ________.

30. The standard & poor's 500 is __________ weighted index.

31. The manufacturing sector ________.

32. The ________ budget is the only budget stated only in units, not dollars.

33. The _____ contains all the executive orders created by the president.

34. Sustainability reporting is ______________ for american companies:

35. Salespeople often are paid a _______ based on a percentage of their sales.

36. Salaries payable, interest payable, and unearned revenue are examples of ________.

37. Roll-forward work normally occurs between the ____ and the ____.

38. The two methods that use present values to analyse capital investment proposal consider the _____.

39. The standard quantity per unit defines the ________.

40. Income __________ when there is zero beginning inventory and all inventory units produced are sold.

41. The amount spent by a publishing company to pay for manufacturing its books is called ________.

42. Proponents of the emh typically advocate __________.

43. In the accompanying figure, the book rep table displays in ____.

44. Disaster recovery typically looks at the __________.

45. The ________ capital budgeting model considers both profitability and the time value of money.

46. If a company retires preferred stock, ________.

47. A correlation coefficient of _____ provides the greatest possible risk reduction to the firm.

48. ____ manufacturing deals with several suppliers in hopes of finding the best price.

49. When a company receives cash from customers before earning the revenue, _________ will be credited.

50. _____ are numbers or letters assigned in a specific order.

51. _____ define(s) the specific types of people the advertiser wants to reach.

52. A _____ cost occurs when the amount used varies based on the volume of service provided.

53. A ____ invests money in the business but has no management responsibility.

54. ________ is pay stated as a percentage of a sale amount.

55. Volatility refers to the degree of ________ within an environment.

56. Long-term investments are made by the investment center manager for the purpose of ________.

57. ________ are a company's decision makers.

58. The cost of goods sold is subtracted from sales to arrive at _____.

59. A short-term creditor is primarily interested in the __________ of the borrower.

60. At the internal rate of return, the present value of net cash inflows will equal the ________.

61. Activity drivers can be classified as either ____ or ____.

62. When deciding whether to discontinue a segment of a business, relevant costs include ________.

63. __________ relate to the effort spent in making sales.

64. The revenue recognition principle guides accountants in ________

65. All of the following are assets except ________.

66. When 1,000 shares of $3 stated value common stock is issued at $18 per share, ________.

67. In a negative message regarding a transaction, the salutation should be _____.

68. A cost center responsibility report ________.

69. Underallocated overhead occurs when ________.

70. Total revenue divided by ________ = units sold.

71. The interest rate that investors demand to earn for loaning their money is known as the ________.

72. The entry to record the purchase of direct materials on account would include a ________.

73. Reduction in production cost results in ________.

74. Under variable costing, a unit of a product includes ________.

75. The ________ capital budgeting method uses accrual accounting income.

76. Given a price of p2, this firm in a purely competitive industry should ___________

77. All fixed costs are listed ________ on a contribution margin income statement.

78. ____ manufacturing philosophy emphasizes quality and zero defects.

79. The amount of net income is transferred from ________ to ________.

80. _____ are people who are prompted to apply for a job by someone within the organization.

81. When preparing the cost of goods sold budget, ________.

82. The predetermined overhead allocation rate is calculated by dividing ________.

83. The ima?s ethical standards include all of the following except ________.

84. The direct materials budget is prepared using information from the ________ budget.

85. The current portion of long-term notes payable is ________.

86. The commitment concept says that plans should ________.

87. Payment cards with disposable numbers are known as _____.

88. Inventory reduction is a ____ principle.

89. In multiple regression, plot the residuals against ____ to detect changing variability

90. Dividends normally carry a _______ balance and are shown in the ______________.

91. Discounted cash flow methods, such as net present value and internal rate of return, ________.

92. At the maturity of a note payable, a borrower will pay ________.

93. An unfavorable flexible budget variance in operating income might be due to a(n) ________.

94. An entity that buys goods and sells them to customers at a markup is a ________.

95. A shortened form of the ledger is called a ________.

96. __________ is the total combined values of all of the company’s customers.

97. ________ includes general management, finance, accounting, legal, and government affairs.

98. When a company pays cash for a long-term investment in bonds, ________.

99. The income statement of a service company will most likely include ________.

100. When the total fixed costs increases, the contribution margin per unit ________.