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ACC 561 NEW 2016
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ACC 561 Week 6 Final Exam - NEW 2016 - $30

1. Which of the is following an of advantage corporations relative to partnerships
and sole proprietorships?
2. The group of users of accounting information charged with achieving the goals
of the business is its
3. Which of the following financial statements is concerned with the company at a
point in time?
4. An income statement
5. The most important information needed to determine if companies can pay their
current obligations is the
6. A liquidity ratio measures the
7. The convention of consistency refers to consistent use of accounting principles
8. Horizontal analysis is also known as
9. Horizontal analysis is a technique for evaluating a series of financial statement
data over a period of time
10. Vertical analysis is a technique that expresses each item in a financial statement
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ACC 561 Week 6 Assignment Practice Quiz - NEW 2016 - $11
Multiple Choice Question 38
A major accounting contribution to the managerial decision-making process in
evaluating possible courses of action is to
In incremental analysis,
Incremental analysis is most useful
ACC 561 Week 5 Assignment WileyPLUS - NEW 2016 - $14
ACC 561 Week 5 Assignment WileyPLUS
Brief Exercise 18-8
Brief Exercise 18-10
Exercise 19-17
Brief Exercise 21-1
Brief Exercise 21-4

ACC 561 Week 5 Assignment Practice Quiz
Why are budgets useful in the planning process?
A common starting point in the budgeting process is
Which of the following statements about budget acceptance in an organization is
true?
What is budgetary control?
The comparison of differences between actual and planned results
A static budget
A responsibility report should
Which responsibility centers generate both revenues and costs?
The linens department of a large department store is
What is a standard cost?
Using standard costs
Unfavorable materials price and quantity variances are generally the responsibility of
the
ACC 561 Week 4 Assignment WileyPLUS - NEW 2016 - - $14
ACC 561 Week 4 Assignment WileyPLUS
Exercise 15-5
Exercise 16-3
Exercise 17-1

A variable cost is a cost that
An increase in the level of activity will have the following effects on unit costs for
variable and fixed costs:
A fixed cost is a cost which
Hollis Industries produces flash drives for computers, which it sells for $20 each.
Each flash drive costs $14 of variable costs to make. During April, 1,000 drives were
sold. Fixed costs for March were $2 per unit for a total of $1,000 for the month. How
much is the contribution margin ratio?
ACC 561 Week 3 Assignment WileyPLUS - NEW 2016 - - $14
Brief Exercise 13-4
Brief Exercise 13-5
Brief Exercise 13-8 (Essay)
Brief Exercise 13-9 (Essay)
A major purpose of cost accounting is to

The two basic types of cost accounting systems are
A process cost system would most likely be used by a company that makes
Which of the following would be accounted for using a job order cost system?
The flow of costs in a job order cost system
The entry to record the acquisition of raw materials on account is
Time tickets should be approved by...
The relationship between current assets and current liabilities is important in
evaluating a company's
Which of the following is a measure of liquidity?
Current assets divided by current liabilities is known as the
Danner Corporation reported net sales of $600,000, $680,000, and $800,000 in the
years 2011, 2012, and 2013, respectively. If 2011 is the base year, what percentage do
2013 sales represent of the base?...

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