Cost Accounting

Financial Accounting and Reporting III

Government and Non-Profit

Intermediate Accounting I

Week_1_Quiz.docx-Week 1 Quiz 1. Which of

Chapter 24 Quiz 1. In a purchase, the direct acquisition, indirect acquisition and security issuance costs are accounted for as follows: Direct Acquisition Indirect Acquisition Security Issuance a. Added to price paid Added to price paid Added to price paid b. Added to price paid Expensed Deducted from value of security issued c. Expensed Expensed Deduc

ACCT | 350 | Intermediate Accounting I | assessment | Chapter 24 Quiz 1. In a purcha

Q6 1. The pricing of issues from inventory must be deferred until the end of the accounting period under the following method of inventory valuation: a. moving average. b. weighted-average. c. LIFO perpetual. d. FIFO. 2. An inventory pricing procedure in which the oldest costs incurred rarely have an eﬀect on the ending inventory valuation is a. FIFO. b. LI

ACCT | 451 | Government and Non-Profit | question bank | Q6 1. The pricing of issues fr

Chapter 22 Quiz 1. Consolidated statements for X, Y, and Z are proper if a. X owns 100% of the outstanding common stock of Y and 49% of Z; M owns 51% of Z. b. X owns 100% of the outstanding common stock of Y and 75% of Z; X bought the stock of Z one month before the statement date and sold it 6 weeks later. c. X owns 100% of the outstanding stock of Y; Y owns 75% of Z. d. There is n

ACCT | 350 | Intermediate Accounting I | assessment | Chapter 22 Quiz 1. Consolidate

101. Award: Segmental Manufacturing owns 35% of Glesson Corp stock. Glesson pays a total of $47,000 in cash dividends for the period. Segmental’s entry to record the cash dividend received from Glesson would include a: ➜  Credit to Equity Method Investments for $16,450.  Debit to Equity Method Investments for $16,450.  Debit to Cash for $47,000.  Credit

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