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<language>en-us</language> <pubDate>Sat, 18 Apr 2026 03:13:40 -0400</pubDate>
<item>
  <title><![CDATA[ACCT 212 Final exam;,,,,,,,,, for $20]]></title>
  <link><![CDATA[https://www.seoclerk.com//274880/ACCT-212-Final-exam]]></link>
  <guid><![CDATA[https://www.seoclerk.com//274880/ACCT-212-Final-exam]]></guid>
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    <![CDATA[1. (TCO 3) At the end of the period it is necessary to close all temporary accounts. (1) Explain why this process is required (10 points) and (2) provide an example of the closing of an expense account, Supplies Expense in the form of a journal entry. (10 points) (Points : 20)
      
      
 
2. (TCO 2) As required to complete Course Project 1, one must follow the cycle that includes 10 steps to complete the accounting cycle. (1) Explain how to construct an Unadjusted Trial Balance (10 points) and (2) provide an example of the application of the debit/credit rules in the development of the trial balance. (10 points) (Points : 20)
      
      
 
3. (TCO 5) Internal Control Procedures are required to safeguard company assets and to ensure ethical operation of the business. (1) Explain how limited access can satisfy the purpose of internal control (10 points) and (2) provide an example of how this control could be implemented. (10 points) (Points : 20)
      
      
 
4. (TCO 4) Inventory valuation methods determine the cost of goods sold and the inventory balance. (1) Explain how the Last in First out (LIFO) method is applied (10 points) and (2) provide an example of the impact that this method of inventory valuation will have on Gross Profit. (10 points) (Points : 20)
      
      
 
5. (TCO 1) To evaluate the financial operation and health of a business ratio analysis is used. (1) Provide the formula for the Acid-test (or Quick) Ratio and explain how it is computed (10 points) and (2) provide an example of how this ratio can be used in decision-making in business. (10 points) (Points : 20)
      
      
 
1. (TCO 6) BagODonuts Company bought a used delivery truck on January 1, 2010, for $19,200. The van was expected to remain in service 4 years (30,000 miles).  BagODonuts’ accountant estimated that the truck’s residual value would be $2,400 at the end of its useful life.  The truck traveled 8,000 miles the first year, 8,500 miles the second year, 5,500 miles the third year, and 8,000 miles in the fourth year.  

1. Calculate depreciation expense for the truck for each year (2010-2013) using the:
a. Straight-line method.
b. Double-declining balance method.
c. Units of Production method.
 (For units-of-production and double-declining balance, round to the nearest two decimals after each step of the calculation.)
2. Which method best tracks the wear and tear on the van? 
3. Which method would BagODonuts prefer to use for income tax purposes?  Explain in detail why BagODonuts prefers this method. (Points : 25)
      
      
 
2. (TCO 7) ABC Inc. was incorporated on 1/15/12. Their corporate charter authorized the following capital stock:
 Preferred Stock: 7%, par value $100 per share, 100,000 shares.
 Common Stock: $1 par value, 500,000 shares.

The following transactions occurred during the year:

1/19/12 – Issued 100,000 shares of common stock for $17 cash per share.
1/31/12 – Issued 3,000 shares of preferred stock for $115 cash per share.
11/1/12 – Repurchased 30,000 shares of common stock for $22 cash per share.
12/1/12 – Declared and paid a total dividend of $95,000. 

Required: 
1. Prepare the journal entry for each transaction listed above.
2. In your own words, explain the main differences between common and preferred stock.
(Points : 25)
      
      
 
3. (TCO 5) Fraud is an intentional misrepresentation of facts, made for the purpose of persuading another party to act in a way that causes injury or damage to that party.  In our readings and discussions we have seen several examples of fraud in business.  Using that experience (1) provide an example of a common fraudulent practice in business with an explanation of how the practice works and (2) name and describe each of the elements of the Fraud Triangle. 
(Points : 25)
      
      
 
4. (TCO 5) Internal Control Procedures are in place to protect the assets of every business as mentioned in the textbook and our discussions.  Of the seven internal control procedures, list five of these controls and describe how each procedure is implemented. (5 points each with 2 points for listing and 3 points for a description) (Points : 25)
      
      
 
5. (TCO 2) Below are the accounts of Super Pool Service, Inc. The accounts have normal balances on June 30, 2012. The accounts are listed in no particular order.
Account                              Balance 
Common stock                    $5,100 
Accounts payable                $4,400 
Service revenue                   $17,100 
Land                                  $28,800 
Note payable                       $9,500 
Cash                                  $5,200 
Dividends                            $6,100 
Utilities expense                  $2,100 
Accounts receivable             $10,600 
Delivery expense                 $700 
Retained earnings                $25,600 
Salary expense                    $8,200
Prepare the company’s trial balance as of June 30, 2012, listing accounts in proper sequence, as illustrated in the chapter. For example, Accounts Receivable comes before Land. List the expense with the largest balance first, the expense with the next largest balance second, and so on.
(Points : 25)
      
      
 
6.
(TCO4) Linda’s Lampshades started business on Jan. 1, 2001. They had the following inventory transactions:
Journals - Jan. 2001
Purchases
Supplier         Date Received         Quantity        Unit Cost       Amount
Donna           01/10/01                110              12.00            1320.00
Thomas         01/15/01                160              14.00             2240.00
Cindy            01/18/01                150              15.00            2250.00
Sales
Customer      Date shipped    Quantity      Sel. Price                Amount         
Norilene        01/16/01         200                  25.00                   5000.00

1.    Calculate the ending inventory, using the perpetual inventory method: 

A.     Using FIFO

B.     Using LIFO
C.     Using Average Cost
2.    Prepare the following statement             

Using
                                      FIFO    LIFO        Average Cost
Sales
Cost of Sales          

Gross Profit
(Points : 25)<br><br>by: <a href="https://www.seoclerk.com/user/Vikasonlinehelp">Vikasonlinehelp</a><br />Created: --<br>Category: <a href='https://www.seoclerk.com/categories/'></a><br>Viewed: 341<br/><br/><br /><hr>    ]]>
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  <dc:creator>Vikasonlinehelp</dc:creator>
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<item>
  <title><![CDATA[OPS571Final_Exam,,,,,,,,,,,,,, for $20]]></title>
  <link><![CDATA[https://www.seoclerk.com//274159/OPS571Final-Exam]]></link>
  <guid><![CDATA[https://www.seoclerk.com//274159/OPS571Final-Exam]]></guid>
  <description>
    <![CDATA[1.Which of the following is considered a major process flow structure?
Lead Time
Fabrication
Lean Manufacturing
Project 
 2.ISO audits result in certifications that are done by first, second, or third parties. Which of the following result in the best certification of a firm?
Certification is sought by any firm assuming they pay annual dues.
2nd Party – where a customer audits its supplier
3rd Party – where a qualified national or international standards/certifying agency serves as an auditor
1st Party – where a firm audits itself against ISO standards3.Which of the following is ISO 14000 primarily concerned with?
Quality management
Time management
Continuous improvement management
Environmental management 
4. Which is the one correct value stream principle?
Look for efficiencies in the factory, office, physical, procedural, and technical operations.
Eliminate waste that stops, slows down, or diverts the value stream.
Concentrate on speeding up value-adding operations rather than removing waste.
Keep the value stream moving at minimum velocity.5. What is the starting point in developing a capacity plan for a health care operation?
Determining the effective capacity over time
Estimating design capacity
Forecasting patient demand for a reasonable length of time
Discovery of the bottleneck operation 
6. Which of the following is considered an organizational blueprint, which prescribes the quantity and time frame for when each end product will be assembled?
MRP (Material Requirements Plan)
ERP (Enterprise Resource Planning)
MPS (Master Production Schedule)
WBS (Work Breakdown Structure)7.Which of the following is an element that addresses elimination of waste under lean production?
Kanban production control system
Production ahead of demand
Minimized run times
Group plant loading technology8. In most cases, demand for products or services can be broken into several components. Which of the following is considered a component of demand?
Level elements
Future elements
Past elements
Cyclical elements9. Design for manufacturing and assembly delivers product improvements by emphasizing which of the following:
Reducing product quality during the assembly process
Designing products so they can be manufactured by a virtual factory
Reducing equipment in the production process
Simplification of the product by reducing the number of separate parts10. Which of the following is one of the principles of reengineering?
Quality at the source
Do not select suppliers on the basis of price alone.
Have those who use the output of a process perform the process.
Leverage high cost employees with lower cost employees.
  
11. Which of the following is a characteristic that can be used to guide the design of service systems?
Services are all similar.Services businesses are inherently entrepreneurial.
Quality work means quality service.
Services cannot be inventoried.
12. Considering Hau Lee’s uncertainty framework for classifying supply chains, which of the following is given to a supply chain which has an evolving supply process based on functional products?
Risk hedging
Forward looking
Efficient
Agile13. There are many applications of poka-yokes in service organizations. Which of the following is one of the three-T's used to classify poka-yokes?
Trust
Teamwork
Task
Time14. Which of the following is a major factor that distinguishes service design and development from manufacturing design and development?
The service package has the same legal protection available to manufactured goods.
Manufacturing is far more capital intensive than services.
The service process and service product can be developed independently.
The service package is the major output of the development process. 
 
 
 
15. A project can be segmented into which of the following?  
Events 
Sub-jobs
Work packages
Success markers16. Which of the following is a cost impact and payoff analysis tool from the operations consulting tool kit?
Statistical tools
Decision trees
Work sampling
Gap analysis17. According to the theory of constraints, which of the following can be a capacity-constrained resource (CCR)?
Product design
Inoperable equipment
An employee
A customer18. The ability to rapidly and inexpensively switch production from one product to another enables which of the following:
Economies of shape
Economies of size
Economies of scale
Economies of scope19. According to the theory of constraints, which of the following financial measurements can be used to measure the firm's ability to make money?
Operating expenses
Dividends
Sales
Return on investment 
20. Deming’s PDCA (plan, do, check, and act) cycle underlies what inherent Six Sigma principle?
Continuous improvement
Control charting
Standard deviation
Project management21. Which of the following is usually included as an inventory holding cost?
Order placing
Quantity discounts
Breakage
Typing up an order22. Which production process term best describes the situation when activities in a stage of production must stop because there is no work?
Blocking
Starving
Staging
Buffering23. In a Gantt chart the vertical axis represents which of the following?
Time
Revenue
Tasks
Cost24. The Shingo system states that the way to prevent defects from coming out at the end of a process is to do which of the following:
•     Redesign the process in order to mitigate the bottlenecks.
•     Utilize SQC (statistical quality control).
•     Introduce controls within the process.
•     Slow down production rates until the process is in control.
 
25. Which of the following terms describes the time a unit spends actually being worked on together with the time spent waiting in a queue?
 Flow time
 Build time
 Cycle time
 Run time
 
26. Which of the following is one of Dr. Eli Goldratt's rules of production scheduling for optimized production technology?
 An hour saved at a bottleneck operation does not increase the process flow.
 If you lose an hour at a bottleneck it is better than making scrap.
 Do not allow bottlenecks to govern the flow of the line.
 Utilization and activation of a resource are not the same.
27. During the implementation of a project, which of the following should be the primary focus of a consulting firm?
•     The correct project software
•     Application of the learning curve theory
•     Tools and materials availability
•     People management skills
28. Which of the following is an analytical tool used in Six-Sigma quality improvement programs?
•     Gantt charts
•     Pareto charts
•     Tree charts
•     Pedigree charts
29. A project manager must consider several components when overseeing the planning process of aggregate operations; specifically, whether such components are factors that are internal or external to the organization. Which of the following factors would be classified as an internal component for an organization?
•     Inventory levels and economic conditions
•     Market demand and subcontractor capacity
•     Current physical capacity and current workforce
•     Competitor behavior and current workforce
30. Which of the following is the net requirement using an MRP program if the gross requirement is 10,000 and the inventory on hand is 4,000?
•     10,000
•     14,000
•     6,000
•     4,000<br><br>by: <a href="https://www.seoclerk.com/user/Vikasonlinehelp">Vikasonlinehelp</a><br />Created: --<br>Category: <a href='https://www.seoclerk.com/categories/'></a><br>Viewed: 288<br/><br/><br /><hr>    ]]>
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  <dc:creator>Vikasonlinehelp</dc:creator>
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<item>
  <title><![CDATA[BUS 475 FINAL EXAM 100 Questions with ANSWERS  4 Set for $10]]></title>
  <link><![CDATA[https://www.seoclerk.com//245782/BUS-475-FINAL-EXAM-100-Questions-with-ANSWERS-4-Set]]></link>
  <guid><![CDATA[https://www.seoclerk.com//245782/BUS-475-FINAL-EXAM-100-Questions-with-ANSWERS-4-Set]]></guid>
  <description>
    <![CDATA[1) The cost principle requires that when assets are acquired, they be recorded at __________.
A.   list price
B.   selling price
C.   exchange price paid
D.   appraisal value

2) "Generally accepted" in the phrase generally accepted accounting principles means that the principles __________.
A.   have been approved for use by the managements of business firms
B.   have been approved by the Internal Revenue Service
C.   have substantial authoritative support
D.   are proven theories of accounting

3) The standards and rules that are recognized as a general guide for financial reporting are called __________.
A.   standards of financial reporting
B.   operating guidelines
C.   generally accepted accounting principles
D.   generally accepted accounting standards<br><br>by: <a href="https://www.seoclerk.com/user/Vikasonlinehelp">Vikasonlinehelp</a><br />Created: --<br>Category: <a href='https://www.seoclerk.com/categories/'></a><br>Viewed: 426<br/><br/><br /><hr>    ]]>
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  <dc:creator>Vikasonlinehelp</dc:creator>
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<item>
  <title><![CDATA[ACC548-FinalExam........................... for $10]]></title>
  <link><![CDATA[https://www.seoclerk.com//244303/ACC548-FinalExam]]></link>
  <guid><![CDATA[https://www.seoclerk.com//244303/ACC548-FinalExam]]></guid>
  <description>
    <![CDATA[ACC 548 Final Exam Answers
HOW TO USE THIS GUIDE – Read Me First!
 
The following study guide may NOT have the same exact questions on your test! However, this study guide WILL help you ace the ACC/548 Final Exam. The guide covers the same topics and will help you gain a deeper understanding of the concepts.
 
 
1. Under GASB rules for the financial reporting entity
a. component units are included if the primary government is financially accountable for their operations
B. counties are component units of the state government
C. blended and discretely presented component units are to be reported in government-wide financial statements but not in fund financial statements
D. component units must be reported in columns (discrete presentation) separate from the funds of a primary government
 
2. According to GASB Statement No. 44, all of the following is a recommendation category for the CAFR’s statistical section EXCEPT
A. financial trends information
B. debt capacity information
C. comparative information
D. operating information
 
3. Which of the following choices regarding the government-wide Statement of Net Assets is true?
A. The government-wide Statement of Net Assets reflects capital assets, net of accumulated depreciation, for both governmental and business-type activities.
B. The government-wide Statement of Net Assets must be prepared in a classified format; that is, both assets and liabilities must be separated between current and long-term categories.
C. The government-wide Statement of Net Assets includes all resources entrusted to the government; including governmental, proprietary, and fiduciary.
D. A reporting entity—primary government plus component units—total column is required.
 
4. Which of the following choices regarding the government-wide Statement of Activities is true?
            A. The government-wide Statement of Activities may reflect expenses either by function—general government, public safety, and so forth—or by object or natural classification—salaries, supplies, and so forth.
B. The government-wide Statement of Activities is prepared using the modified accrual basis of accounting for governmental activities and using the accrual basis of accounting for business-type activities.
C. The government-wide Statement of Activities reflects all taxes as general revenues.
 
Which of the following choices regarding the government-wide Statement of Activities is true?
A. The Statement of Activities includes depreciation expense.
B. Transfers between governmental and business type activities are eliminated and do not appear on the government-wide Statement of Activities.
C. In the government-wide Statement of Activities, special items are those items that are both unusual, infrequent, and are not under the control of management.
D. Taxes levied for specific functions may be reported as program revenue.
 
Which of the following choices regarding the proprietary fund financial statements is true?
A. The Statement of Net Assets (Balance Sheet) reflects equity as contributed equity and retained earnings.
B. Normally, a reconciliation is required between the proprietary fund financial statements and the business-type activities column in the government-wide financial statements.
C. Statements include the Statement of Net Assets (Balance Sheet); Statement of Revenues, Expenses and Changes in Fund Net Assets: and Statement of Cash Flows.
D. The Statement of Cash Flows may be prepared using either the direct or indirect methods.<br><br>by: <a href="https://www.seoclerk.com/user/Vikasonlinehelp">Vikasonlinehelp</a><br />Created: --<br>Category: <a href='https://www.seoclerk.com/categories/'></a><br>Viewed: 189<br/><br/><br /><hr>    ]]>
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