D. C. Books

Which of the following would increase the likelihood that a company would increase its debt ratio in its capital structure? a. An increase in costs incurred when filing for bankruptcy. b. An increase in the corporate tax rate. c. An increase in the personal tax rate. d. None of the statements above is correct. ANSWER: B An increase in the corporate tax rate would mean that firms would get larger tax breaks for interest payments. Therefore, firms have an incentive to increase interest payments

in its product line which requires that new  equipment be purchased. Which of the following would be of greatest concern to the auditor?    A. Inappropriate book value of new equipment.   B. Impaired value of new equipment.  C. Impaired value of old equipment.  D. Inappropriate depreciation calculation for new equipment.      2. A. B. C. D. Audit procedures should be proportional to which of the following?    The assessed Risks  Size of the Client   Size of the Firm   The Assessed misstatements  

True or False 6) The book value per share of common stock is the amount per share of common stock that would be received if all of the firm's assets were sold for their accounting value and the proceeds remaining were divided among common stockholders. True or False 7) ________

Company for Y Company?    A.  $0 B.  $10,000 C.  $5,000 D.  $15,000   15. Based on the information given, what balance in accounts receivable did Y Company report at December 31, 20X8?    A.  $28,000 B.  $48,000 C.  $40,000 D.  $38,000   16. Based on the information given, X Company and Y Company reported wages payable of    A.  $50,000 and $28,000 respectively. B.  $60,000 and $32,000 respectively. C.  $40,000 and $35,000 respectively. D.  $28,000 and $60,000 respectively.   17. Based

1.When a specific account receivable is written off, the entry A) increases net income. B) decreases net income. C) can either decrease or increase net income. D) has no effect on net income.2.Echo Company's 2011 beginning and ending accounts receivable balances were $72,500 and $41,250 respectively. During 2011, the company's sales (all on credit) amounted to $857,250. Per Echo's 2011 cash flow statement, $873,500 was collected from customers while $18,750 related to uncollectible accounts was

Accounting 430 - Quiz 8 1) Assuming a 25 percent tax rate, compute the after-tax cost of $23,000 worth of advertising costs. (part c) a) $23,000 b) $20,125 c) $17,250 Because the advertising cost is deductible, its after-tax cost is $17,250 ($23,000 - [$23,000 × 25%]). d) $27,500 2) In 2013, Firm A paid $50,000 cash to purchase a tangible business asset. In 2013 and 2014, it deducted $3,140 and $7,200 depreciation with respect to the asset. Firm A’s marginal tax rate in both years was 35

liquidity?    A.  Acid-test ratio B.  Current ratio C.  Days' to collect receivables D.  Total asset turnover 2. Which of the following statements is incorrect?    A.  Current assets are expected to be converted into cash sooner than noncurrent assets. B.  Equity investors have unlimited downside exposure if the company declares bankruptcy. C.  Paid-in capital of company is not affected by the payment of dividends. D.  Retained earnings at the

works at little cost b) use of standards for file formats c) anonymous nature of the Internet d) support for instant peer-to-peer communication QUESTION 2 ____________________ is an example of the affiliate revenue model. a) b) c) d) MyPoints Gap.com

confused. b. Fizzy’s use is intentional. c. Fizzy and Effervescent are competitors. d. Effervescent’s mark is registered. ANSWER: A PAGES: Section 1 TYPE: + BUSPROG: Reflective AICPA: BB-Legal 3. In 2014, Cloud Computing Corporation registers its trademark as provided by federal law. After the first renewal, this registration a. is renewable every ten years. b. is renewable every twenty years. c. runs for the life of the corporation plus seventy years. d. runs forever. ANSWER: A PAGES: Section

value (book value) after 2 1/2 years? a. $8,750. b. $12,250. c. $14,583. d. $16,250. 2. On January 1, 2003, Superior Landscaping Company paid $17,000 to buy a stump grinder. If Superior uses the grinder to remove 2,500 stumps per year, it would have an estimated useful life of 10 years and a salvage value of $4,500. The amount of depreciation expense for the year 2003, using units-of-production depreciation and assuming that 3,500 stumps were removed, is a. $2,380. b. $1,750. c. $1,700