Ac550 Quiz

Accounting 381 Winter 2010Name ________________________________ Quiz 2: 15 channelizes (1 point each) 1.Which of the following is an example of managing earnings down? a.ever-changing estimated bad debts from 3 percent to 2.5 percent of sales. b.Revising the estimated vivification of equipment from 10 years to 8 years. c.Not writing mangle obsolete inventory. d.Reducing research and development expenditures. 2.Prophet concretion has an bizarre bolshy of $200,000, an unusual gain of $140,000, and a revenue rate of 40%. At what amount should Prophet channelise each item? Extraordinary wantUnusual gain a.$(200,000)$140,000 b.(200,000)84,000 c.(120,000)140,000 d.(120,000)84,000 3.What capability a manager do during the last quarter of a pecuniary year if she wanted to improve current yearly pull in income? a.Increase research and development activities. b.Relax recognise policies for customers. c.Delay shipments to customers until afterwards the end of the fiscal year. d.Delay purchases from suppliers until after the end of the fiscal year. 4.When a company discontinues an subprogram and disposes of the stop operation (component), the transaction should be included in the income tale as a gain or loss on disposal reported as a.a prior stage adjustment. b.an terrible item. c.

an amount after continuing operations and in front extraordinary items. d.a bulk sale of plant assets included in income from continuing operations. 5.Which of the following should be reported as a prior period adjustment? adjustment in Estimated LivesChange from nonstandard of Depreciable AssetsPrinciple to Accepted Principle a.YesYes b.NoYe s c.YesNo d.NoNo 6.In 2010, Linz stool! reported an extraordinary loss of $1,000,000, net of tax. It declared and stipendiary preferred stock dividends of $100,000 and super acid stock dividends of $300,000. During 2010, Linz had a plodding average of 200,000 common shares outstanding. opine the effect of...If you want to calculate a full essay, guild it on our website: OrderEssay.net

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