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Transweb E Tutors provides the latest University of Phoenix ACC 561 Final Exam week
6 final questions for free. Get the recently updated question of accounting 561 final
exams and their answers for free. Find the weekly questions of acc 561 Final Exam.
64. The group of users of accounting information charged with achieving the
goals of the business is its
auditors.
creditors.
managers.
investors.
110. Which of the following financial statements is concerned with the
company at a point in time?
Income statement.
Balance sheet.
Retained Earnings statement.
Statement of cash flows.
112. An income statement
presents the revenues and expenses for a specific period of time.
summarizes the changes in retained earnings for a specific period of
time.
reports the assets, liabilities, and stockholders equity at a specific
date.
40. A
105.
109. Fixed costs are $600,000 and the contribution margin per unit is $150.
What is the break-even point?
$1,500,000
$4,000,000
1,500 units
4,000 units
94. When a company assigns the costs of direct materials, direct labor, and
both variable and fixed manufacturing overhead to products, that company is
using
product costing.
operations costing.
absorption costing.
variable costing.
122. If a division manager's compensation is based upon the division's net
income, the manager may decide to meet the net income targets by
increasing production when using
variable costing, in order to increase net income.
40. Internal reports that review the actual impact of decisions are prepared
by
the controller.
management accountants.
factory workers.
department heads.
42. The process of evaluating financial data that change under alternative
courses of action is called
cost-benefit analysis.
contribution margin analysis.
incremental analysis.
double entry analysis.
54.Seasons Manufacturing manufactures a product with a unit variable cost
of $100 and a unit sales price of $176. Fixed manufacturing costs were
$480,000 when 10,000 units were produced and sold. The company has a
one-time opportunity to sell an additional 1,000 units at $140 each in a
foreign market which would not affect its present sales. If the company has
sufficient capacity to produce the additional units, acceptance of the special
order would affect net income as follows:
Income would increase by $40,000.
Income would decrease by $8,000.
Income would increase by $140,000.
Income would increase by $8,000.
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