Homework Answers
Answer : The Appropriate Statement are :
| Engineering Economy | option B is correct. It is about the future and estimations that are concerned with them logical and systematic wise. |
| Management | Option D is correct. Management is includes past data and there is a systematic analysis of decision and appropriate reporting in systematic manner. |
| Accounting | Option A is correct. Accounting is appropriate term that has been used with firm revenue and expenses from ongoing operations over period of time. |
| Income statement | Option C is correct. Income statement includes all the statement i.e cash flow, profit and loss etc in order to earn a systematic income earned. |
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QUESTION 1 Match the following terms to the appropriate statements - Engineering Economy Management concerned with...
CALCULATOR PRINTER VI Matching Question 257 Match the following statements to the appropriate terms. A twelve...
CALCULATOR PRINTER VI Matching Question 257 Match the following statements to the appropriate terms. A twelve month accounting period Expenses paid before they are incurred Cost less accumulated depreciation Divides the economic life of a business into artificial time periods Efforts are related to accomplishments A contra asset account > Recognition of revenue when the performance obligation is satisfied Revenues recognized but not yet received Expenses incurred but not yet paid > A cost allocation process Question Attempts: 0 of...
Match the following statements to the appropriate terms. A selection of strategies to achieve lon...
Match the following statements to the appropriate terms. A selection of strategies to achieve long-term goals. An estimate of expected sales for the budget period Budgets that indicate the cash resources needed for expected operations and planned capital expenditures. The projection of potential sales for the industry and the company's expected share of such sales. Management's plans expressed in financial terms for a specified future time period. A projection of anticipated cash flows A group responsible for coordinating the preparation...
Matching Question 207 Match the following statements to the appropriate terms. Each partner is personally and...
Matching Question 207 Match the following statements to the appropriate terms. Each partner is personally and individually liable for partnership debts. Made on basis of partners' capital balances. Explains changes in individual partner's capital accounts during a period. Each partner can bind the partnership so long as the action appears to be appropriate for the partnership Business terminates. Results in an increase in total net assets and total capital of the partnership Capital account with a debit balance. The basis...
Question 9 Match the following statements to the appropriate terms. Allocates overhead to multiple activity cost...
Question 9 Match the following statements to the appropriate terms. Allocates overhead to multiple activity cost pools, then assigns the activity cost pools to products. An activity that has a direct cause-effect relationship with the resources consumed. Increases the worth of a product or service to customers. Should be eliminated or reduced. Plant management. Engineering changes. Equipment setups. Assembling. Primary objective is to eliminate all manufacturing inventories. Used to initiate manufacturing under JIT processing. Activity-based costing Product-level activity Unit-level activity...
e1-19 E1-19 Using accounting vocabulary Consider the following accounting terms and definitions, and match each term...
e1-19
E1-19 Using accounting vocabulary Consider the following accounting terms and definitions, and match each term to the definition: Learnin 1. Accounting equation a. An economic resource that is expected to be of benefit in the future 2. Asset b. Debts that are owed to creditors 3. Balance sheet c. Excess of total expenses over total revenues 4. Expense d. Excess of total revenues over total expenses 5. Income statement 6. Liability e. The basic tool of accounting, stated as...
Score: 10 EF1-19 (book/static) Consider the following accounting terms and definitions, and match each term to...
Score: 10 EF1-19 (book/static) Consider the following accounting terms and definitions, and match each term to the definition: (Click the icon to view the definitions.) (Abbreviations used: Stmt. = Statement, ret. = retained; beg. = beginning.) Term Definition 1. Accounting equation 2. Asset 3. Balance sheet Expense 4. 5. Income statement 6. 7. Liability Net income 8. Net loss 9. Revenue 10. Stmt. of cash flows 11. Stmt. of ret. earnings More Info a. b. c. e. An economic resource...
Types of Adjustments (each worth I point) Match the statements below with the appropriate terms by...
Types of Adjustments (each worth I point) Match the statements below with the appropriate terms by entering the appropriate letter code in the spaces provided. A. Prepaid Expenses B. Unearned Revenues C. Accrued Revenues D. Accrued Expenses 1. Revenue not earned but money collected in advance. 2. Supplies that will be used in the next month. 3. An expense incurred but not yet paid or recorded. 4. Revenue earned but money not collected. 5. An expense not yet incurred but...
Question 31 Match the following statements to the appropriate terms. A summary of both production quantity...
Question 31 Match the following statements to the appropriate terms. A summary of both production quantity and cost data for a production department. Shows that the total costs accounted for equal the total costs to be accounted for Work done during a period expressed in fully completed units. Costs expressed in terms of equivalent units of production. Actual units to be accounted for during a period, irrespective of any work performed Units transferred out during the period plus units in...
E 1-15 Multiple choice; concept statements, basic assumptions, principles Determine the response that best completes the...
E 1-15 Multiple choice; concept statements, basic assumptions, principles Determine the response that best completes the following statements or questions. 1. The primary objective of financial reporting is to provide information a. About a firm's management team b. Useful to capital providers C. Concerning the changes in financial position resulting from the income- producing efforts of the entity d. About a firm's financing and investing activities 2. Statements of Financial Accounting Concepts issued by the FASB a. Represent GAAP b....
MATCH TERMS Match the following terms with the definitions or statements listed below. Indicate your answers...
MATCH TERMS
Match the following terms with the definitions or statements listed below. Indicate your answers in the spaces provided. a. Account g. Expenses b. Accounts payable h. Income statement C. Accounts receivable i. Net income d. Balance sheet j. Revenue e. Corporation k. Partnership f. Debit 1. Sole proprietorship Answer 1. A business owned by stockholders. 2. Costs incurred in running a business. 3. When revenue is larger than expenses. 4. The left-hand side of an account. 5. A...
CALCULATOR PRINTER VI Matching Question 257 Match the following statements to the appropriate terms. A twelve month accounting period Expenses paid before they are incurred Cost less accumulated depreciation Divides the economic life of a business into artificial time periods Efforts are related to accomplishments A contra asset account > Recognition of revenue when the performance obligation is satisfied Revenues recognized but not yet received Expenses incurred but not yet paid > A cost allocation process Question Attempts: 0 of...
Match the following statements to the appropriate terms. A selection of strategies to achieve long-term goals. An estimate of expected sales for the budget period Budgets that indicate the cash resources needed for expected operations and planned capital expenditures. The projection of potential sales for the industry and the company's expected share of such sales. Management's plans expressed in financial terms for a specified future time period. A projection of anticipated cash flows A group responsible for coordinating the preparation...
Matching Question 207 Match the following statements to the appropriate terms. Each partner is personally and individually liable for partnership debts. Made on basis of partners' capital balances. Explains changes in individual partner's capital accounts during a period. Each partner can bind the partnership so long as the action appears to be appropriate for the partnership Business terminates. Results in an increase in total net assets and total capital of the partnership Capital account with a debit balance. The basis...
Question 9 Match the following statements to the appropriate terms. Allocates overhead to multiple activity cost pools, then assigns the activity cost pools to products. An activity that has a direct cause-effect relationship with the resources consumed. Increases the worth of a product or service to customers. Should be eliminated or reduced. Plant management. Engineering changes. Equipment setups. Assembling. Primary objective is to eliminate all manufacturing inventories. Used to initiate manufacturing under JIT processing. Activity-based costing Product-level activity Unit-level activity...
e1-19
E1-19 Using accounting vocabulary Consider the following accounting terms and definitions, and match each term to the definition: Learnin 1. Accounting equation a. An economic resource that is expected to be of benefit in the future 2. Asset b. Debts that are owed to creditors 3. Balance sheet c. Excess of total expenses over total revenues 4. Expense d. Excess of total revenues over total expenses 5. Income statement 6. Liability e. The basic tool of accounting, stated as...
Score: 10 EF1-19 (book/static) Consider the following accounting terms and definitions, and match each term to the definition: (Click the icon to view the definitions.) (Abbreviations used: Stmt. = Statement, ret. = retained; beg. = beginning.) Term Definition 1. Accounting equation 2. Asset 3. Balance sheet Expense 4. 5. Income statement 6. 7. Liability Net income 8. Net loss 9. Revenue 10. Stmt. of cash flows 11. Stmt. of ret. earnings More Info a. b. c. e. An economic resource...
Types of Adjustments (each worth I point) Match the statements below with the appropriate terms by entering the appropriate letter code in the spaces provided. A. Prepaid Expenses B. Unearned Revenues C. Accrued Revenues D. Accrued Expenses 1. Revenue not earned but money collected in advance. 2. Supplies that will be used in the next month. 3. An expense incurred but not yet paid or recorded. 4. Revenue earned but money not collected. 5. An expense not yet incurred but...
Question 31 Match the following statements to the appropriate terms. A summary of both production quantity and cost data for a production department. Shows that the total costs accounted for equal the total costs to be accounted for Work done during a period expressed in fully completed units. Costs expressed in terms of equivalent units of production. Actual units to be accounted for during a period, irrespective of any work performed Units transferred out during the period plus units in...
E 1-15 Multiple choice; concept statements, basic assumptions, principles Determine the response that best completes the following statements or questions. 1. The primary objective of financial reporting is to provide information a. About a firm's management team b. Useful to capital providers C. Concerning the changes in financial position resulting from the income- producing efforts of the entity d. About a firm's financing and investing activities 2. Statements of Financial Accounting Concepts issued by the FASB a. Represent GAAP b....
MATCH TERMS
Match the following terms with the definitions or statements listed below. Indicate your answers in the spaces provided. a. Account g. Expenses b. Accounts payable h. Income statement C. Accounts receivable i. Net income d. Balance sheet j. Revenue e. Corporation k. Partnership f. Debit 1. Sole proprietorship Answer 1. A business owned by stockholders. 2. Costs incurred in running a business. 3. When revenue is larger than expenses. 4. The left-hand side of an account. 5. A...
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