Applied Business Research
ACAMS Practice Questions
Accounting Cycle and Classifying Accounts
Accounting For Managers
Accounting for Merchandising Activities
Accounting for Pensions
Accounting Information Systems
Activity Based Costing
Adjusting Accounts for Financial Statements
Advanced Business Economics
Advertising and Public Relations
Advertising and Sales Promotion
An Overview of International Business
Analysis and Forecasting Techniques
Analyzing and Recording Transactions
Asset Demand and Supply under Uncertainty
Auditing and Attestation
Behavioral and Allied Sciences
Bonds and Long Term Notes Payable
Business Analytics & Technology Management Chapter 2
Business Analytics & Technology Management Chapter 3
Business Analytics & Technology Management Chapter 4
Business Analytics & Technology Management Chapter 5
Business Analytics & Technology Management Chapter 6
Business and Company Law
Business Ethics and Governance
Business Ethics Exam
Business Law Study guide
Business Organisations and Environment
Business organization and systems
Business Process Performance
California Real Estate
Capital Budgeting and Managerial Decisions
Changes in Accounting Principles
Changing Marketing Environment
Consolidated Financial Statements
Corporate and Business Law
Cost Accounting Final exam
Cost Accumulation Systems
Cost Allocation Techniques
Cost and Managerial Accounting
Cost of Capital
Cost Terms and Classifications
Cost Volume Profit Analysis
Currency Exchange Rates
Customer Relationships and Value
CVP Analysis and Marginal Analysis
Debt and Bankruptcy
Decision Makers Household Sector
Demand for Money
Derivative Instruments and Hedging Activities
Dividends, Shares, and Income
Elasticities of Demand and supply
Employee Training and Development
Environments of Business
Essence of Management
Ethical and Professional Standards
Ethics and Social Responsibility
Ethics for Management Accountants
External Financial Statements and Revenue Recognition
Federal Securities Acts
Financial and the Nonfinancial Sectors
Financial Decision Making
Financial Intermediaries and Financial Markets
Financial Markets and Securities Offerings
Financial Statements and Accounting Transactions
Flexible Budgets and Standard Costs
Florida Real Estate MCQs
Fraud Internal Control and Cash
Fundamental Accounting Principles
Global Marketing and World Trade
Governmental Accounting State and Local
Health and Life Comprehensive Exam
Health and Life Practice Questions
Human Resource Management
Human Resource Management HRM
Human Resource Planning
Importance of Business Economics
Insurance and Risk Management
Insurance License Texas Life and Health
Integrated Marketing Communications and Direct Marketing
Interactive Marketing and Electronic Commerce
Internal Auditing and Systems Controls
Internal Control and Cash
International Trade and Globalisation
Interpersonal and Organizational Communication
Introduction to Business
Introduction to Human Resource Management
Introduction to Human Resources Assessment
Investment Risk and Portfolio Management
Job Order Costing
Life and Health Insurance
Life Insurance Basics
Life Insurance Policies
Life Insurance Policy
Long Term Investment
Long Term Securities
Management and Cost Accounting
Managerial Accounting Concepts and Principles
Managing Organizational Change
Managing Production and Operations
Managing Products and Brands
Market Segmentation Targeting and Positioning
Marketing and Corporate Strategies
Marketing Channels and Wholesaling
Master Budgets and Planning
Mergers and Acquisitions
Money and Banking
National Health Insurance
Not For Profit Accounting
Organization and Operation of Corporations
Organizational Behavior Essentials
Organizational Markets and Buyer Behaviour
Organizational Structure and Design
Personal Selling and Sales Management
Principles and Practices of Management
Production and Operations Management
Profitability Analysis and Analytical Issues
Profitability Analysis and Decentralization
Property Plant and Equipment
Property Plant and Equipment Exam
Reporting and Analyzing Cash Flows
Reporting and Analyzing Long Lived Assets
Reporting and Analyzing Receivables
Responsibility Accounting and Performance Measures
Risk and Procedures for Control
Service Department Costing
Short Term Financing
Short Term Investment
Standard Costs and Variance Analysis
State Health Insurance
Statement of Cash Flow
Statement of Comprehensive Income
Statement of Financial Position
Stock Market and Stock Prices
Strategic Marketing Process
Structure of Interest Rates
Succession and Transfer Taxes
Supply Chain and Logistics Management
System Analysis and Design
Texas Real Estate
The Management Challenge
Total Quality Management
Understanding Exchange Rates
Understanding Interest Rates
Understanding Interest Rates Determinants
Value Added Tax
Reporting and Analyzing Long Lived Assets
Reporting and Analyzing Long Lived Assets MCQs
A company is building a new plant that will take three years to construct. Interest capitalized during the construction as part of the cost of the bui...
When can interest be included in the acquisition cost of a plant asset?
during the construction period of a self-constructed asset
if the asset acquisition is financed by a long-term note payable
if it is a part of a lump-sum purchase
if the asset is purchased on credit
What is depreciable cost?
the cost of an asset less accumulated depreciation
the book value of an asset less its salvage value
the book value of an asset
the cost of an asset less its salvage value
_________ are the costs incurred to increase the operating efficiency or useful life of a plant asset.
If a plant asset is retired before it is fully depreciated and no salvage value is received, a _____ on disposal occurs.
Where are natural resources generally shown on the balance sheet?
under owner's equity
under property, plant, and equipment
The cost of intangible assets with _____ should not be amortized.
Companies usually show intangible assets separately under "Intangible assets."
Which of the following should be disclosed in the balance sheet or the notes to the financial statements?
All of the choices are correct
balances of the major classes of assets
amount of depreciation and amortization expense for the period
depreciation and amortization methods used
A patent that has a legal life of 20 years and a useful life of less than 20 years should
be amortized over its useful life.
be amortized over 20 years regardless of its useful life.
be expensed in the year of acquisition.
not be amortized.
Companies can amortize a patent for a period that cannot exceed
To find the asset turnover ratio, divide
net income by ending total assets.
net income by average total assets.
net sales by average total assets.
net sales by ending total assets.
To find the book value of a plant asset, you find the difference between the
cost of the asset and the accumulated depreciation to date.
replacement cost of the asset and its historical cost.
cost of the asset and the amount of depreciation expense for the year.
proceeds received from the sale of the asset and its original cost.
If the estimate of the useful life of equipment changes, then this change requires
that the amount of periodic depreciation be changed in the current year and in future years.
a retroactive change in the amount of periodic depreciation recognized in previous years.
that no change be made in the periodic depreciation so that depreciation amounts are comparable over the life of the asset.
that income for the current year be increased.
In selecting a depreciation method, a company should choose the method that
is easiest to apply.
has been used most often in the past by the company.
best measures the plan asset's market value over its useful life.
best measures the plant assetâ€™s contribution to revenue over its useful life.
When estimating the useful life of an asset, accountants consider all of the following EXCEPT
the cost to replace the asset at the end of its useful life.
expected repairs and maintenance.
the intended use of the asset.
A change in the estimate of the useful life of equipment requires
no change in the periodic depreciation.
an increase in annual income.
a retroactive change to the amount of periodic depreciation applied to all previous years.
the amount of periodic depreciation be changed in the current year and in future years.
A plant asset may be removed from the books even though it is not fully depreciated.
Which of the following applies a constant percentage to depreciable cost in calculating depreciation?
sum-of-year's-digits depreciation method
straight-line depreciation method
units-of-activity depreciation method
declining-balance depreciation method
An overall measure of profitability is the
net sales ratio.
return on assets ratio.
average total assets.
gross profit ratio.
Which term refers to a permanent decline in the market value of an asset?
plant asset disposal
Intangible assets should be reported
in the subsidiary plant ledger.
under the heading Property, Plant and Equipment.
as a separate classification on the balance sheet.
as current assets on the balance sheet.
Which of the following is used to determine the gain or loss on disposal of a plant asset?
the book value of the asset and the proceeds received from its sale
the original cost of the asset and the proceeds received from its sale
the book value of the asset and the asset's original cost
the replacement cost of the asset and the asset's original cost
If an intangible asset has a limited life, its cost must be amortized over a period of
its useful life
The difference between the cost of the asset and the accumulated depreciation to date is the
The depreciation and amortization methods should be described in
the capital expense report.
the capital account sheet.
the SEC filings.
the notes to the financial statements.
The asset turnover ratio is calculated by
dividing net income by net sales.
dividing net sales by average total assets.
multiplying net income by average total assets.
subtracting average total assets from net income.
Capital expenditures add to the utility of plant assets for ______ accounting period.
more than one
To record depreciation, taxpayers must use on their tax returns either the straight-line method or the
Modified Accelerated Cost Recovery System (MACRS).
Which of the following statements is true?
When land is acquired, expenditures for improvements made within one year can be charged to the land account.
When land is acquired, expenditures for paving, fencing, and lighting a new company parking lot should be charged to the plant asset account.
Land improvements such as paving, fencing, and lighting a new company parking lot should be charged to the land improvement account.
Land improvements are not considered a subdivision of plant assets.
________ is the difference between the cost of the plant asset and the accumulated depreciation to date.
Fair market value
Intangible assets with indefinite lives are not amortized.
If the estimate of the useful life of equipment changes then
the amount of periodic depreciation must be changed in the current year and in future years.
the annual depreciation is prorated.
current annual income begins to fall behind previous expectations.
a retroactive change in the amount of periodic depreciation is applied to all previous years leading up to the present.
Capital expenditures are expenditures that increase the company's investment in
When the book value of a plant asset exceeds the cash received from sale proceeds the result is
an amortization on disposal of the asset.
a depreciation on disposal of the asset.
a loss on disposal of the asset.
a gain on disposal of the asset.
Which of the following is computed and represented at cost less accumulated depreciation in the balance sheet?
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