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- The possible answers for option D are:Cost of Goods SoldDepreciation ExpenseEarned RevenueIncome Tax ExpenseInsurance ExpenseInterest ExpenseSupplies ExpenseWage ExpenseWhich of the following costs are capitalized when purchasing a piece of equipment? a. The invoiced price of the equipment b. Sales taxes c. All installation costs related to the equipment d. All of the aboveWhich of the following should be capitalized when a pieceof production equipment is acquired for a factory?a. Sales tax c. Installation costsb. Transportation costs d. All of the above
- which amongst the following would not form part of cost of equipment? A) freight charges B) equipment license C) cost of installations of the equipment D) sales tax paidWhich of the following would be considered a sunk cost? a. purchase price of new equipment b. warehouse lease expense c. equipment rental for the production area d. net book value of equipment that has no market valueWhich of the following is not a fixed cost?a. Direct materialsb. Depreciationc. Lease charged. Property taxes
- Which of the following applies conservatism to the financial statements of a full cost company? Group of answer choices A. Use of the entire country as the cost center B. Full cost ceiling test C. Capitalization of exploratory dry holes D. Exclusion of costs from the amortization poolWhich of the following is used when computing for the accounting rate of return (ARR)? a. Income before depreciation but after taxes. b. Income after depreciation and taxes. c. Income before depreciation and taxes d. Income after depreciation but before taxes.A company is deciding whether to purchase a new machine or not, which among the following is not a relevant cash flow to this decision. a. Depreciation expense b. Additional sales generated c. Tax allowance arising d. Purchase price
- Which of the following costs is a nonlease component for the lessee? taxes maintenance insuranceWhich of the following is NOT one of the definitions of "Cost" concept? Select one: a. Cost means economic sacrifice, measured in terms of standard monetary unit, incurred or potentially to be incurred, as a consequence of a business decision to achieve a specific objective b. Cost is the amount of expenditure (actual or notional) incurred or attributable to a given thing c. Cost refers only to the cash paid for purchasing an item. d. Cost is a measurement, in monetary terms, of the amount of resources used for the purpose of production of goods or rendering servicesFor the following descriptions state whether the cost is controllable or uncontrollable by responsibility center managers. A. property tax of an existing manufacturing facility B. research and development of a product C. advertising of a product D. insurance cost of the existing manufacturing facility E. design of a product