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Are you a real Accountant ?

(Calculator IS Authorized) Lower than 50% You are a cow not an accountant . Between 50% and 80% Semi Accountant . Over 80% A Pro …..
Quiz by moda
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Last updated: August 23, 2022
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First submittedAugust 23, 2022
Times taken27
Average score26.7%
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1. Which of these is not included as a separate item in the basic accounting equation :
Revenue ✓
Liabilities ✓
Assets ✓
Stock holder equity . ✓
2. Impact of debits and credits on a withdrawal account.
D Increase - C Decrease. ✓
D Increase - C Increase ✓
D Decrease - C Decrease. ✓
D Decrease - C Increase ✓
3. Mike LTD paid 220 000 Euro for 60% equity in Adidas , at the date of acquisition Adidas shared capital of 200 000 Euro and retain earnings of 100 000 Euro . Adidas record all her transaction at fair value ,Assuming partial goodwill was adopted Mike LTD interest in Adidas will be equal to :
180 000 Euro ✓
220 000 Euro ✓
40 000 Euro ✓
132 000 Euro ✓
4. Cost of Investment in Toyota is 800,000 Yen, The reserve Capital is(46000) in 2020 ,the pre acquisition dividend represent (36000) such the pre-acquisition profit (90000).Calculate the value of shares in Toyota at 2020.
(754,000) ✓
(628,000) ✓
(720,000) ✓
(674,000) ✓
5. Buyers of a product will pay the majority of a tax placed on a product when
The tax is placed on the seller of product ✓
Demand more elastic than supply ✓
Supply is more elastic than demand ✓
The tax is placed on the buyer of product. ✓
6. fix costs=12000$ Contribution margin =20$ Sold unit =1600$. Calculate the operating income.
12000$ ✓
40000$ ✓
20000$ ✓
32000$ ✓
7. At breakeven point of 200 units , Variable cost =400$ , Fix one equal 600$. How much will the 20 units sold make profits?3
1$ ✓
3$ ✓
5$ ✓
2$ ✓
8. Gelato sells ice-cream in single cones. Data for the store shows fixed costs are $24,000 per month, revenue is $200,000 per month with a charge of $2 per cone and variable costs are $60,000 per month. The cost function is
TC= $60,000+ $1.44 per cone ✓
TC = $24,800 + $1.33 per cone ✓
TC = $24,000 + $1.33 per cone ✓
TC = $24,000 + $0.60 per con ✓
9. Market-based pricing:
considers demand and competitors' price ✓
considers current costs and future costs in setting prices ✓
Calculates prices based on total costs ✓
uses a traditional profit mark-up ✓
10. Accounts such as -------, Investment Securities, and -------- are reported as ------- on the bank's ---------.
Payables , Liabilities , Assets , Cash flow statement . ✓
Insurance , Liabilities , Assets, Income statement. ✓
Cash, Accounts payable , Liabilities , Balance Sheet ✓
Cash , Loans receivable ,Assets , Balance sheet. ✓
11. Cash flow to stockholders is defined as:
operating cash flow minus the cash flow to creditors ✓
the total amount of interest and dividends paid during the past year ✓
dividend payments less net new equity raised ✓
cash flow from assets plus the cash flow to creditors. ✓
12. Which of the following are included in current liabilities? I-note payable to a supplier in eight months II. amount due from a customer next month III. account payable to a supplier that is due next week IV. loan payable to the bank in fourteen months
I, II, III, and IV. ✓
I, III, and IV only ✓
II and III only ✓
I and III only ✓
13. BBC had net income of $121,600 of which 40 percent was distributed to the shareholders as dividends. During the year, the company sold $75,000 worth of common stock. What is the cash flow to stockholders?
2044$ ✓
26,360$ ✓
75000$ ✓
123,543$ ✓
14. each Front Industries has sales of $546,000, costs of $295,000, depreciation expense of $37,000, interest expense of $15,000, and a tax rate of 32 percent. The firm paid $59,000 in cash dividends. What is the addition to retained earnings?
121,680$ ✓
123,000$ ✓
103,460$ ✓
76,320$ ✓
15. Minden Co has current assets of $180,000 (cash: $20,000, accounts receivable: $70,000, inventory: $90,000), and long-term assets that had cost $400,000, with accumulated depreciation to date of $180,000. Sales were $500,000, and operating profit was $50,000. Tax was $20,00 and interest paid was $10,000. Their receivables turnover ratio was:
7.1x ✓
None of the above ✓
10.2x ✓
9.4x ✓
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