ACC 561 Final Exam
1) The statement of cash flows is used for _____.

2) Nonoperating items on the income statement _____.
    
3) The difference between a single-step and multiple-step incomestatement is that a single-step income statement _____. ACC 561final exam

4) Which one of the following statements is true?

5) The _____ accounting convention uses the acquisition cost minusdepreciation in valuing an asset on the balance sheet.

6) A new corporation issuing a common, no-par value stock for cashwould include a journal entry a debit to _____. ACC 561 final examACC 561 final exam

7) Which type of organization would most likely havework-in-process inventory?

8) _____ is a measure of income or profit divided by the investmentrequired to obtain that income or profit.

9) The following information is available for the PeterCompany:
Sales:            $150,000
Invested capital:     $156,250
ROI:            10%
The return on sales is     _____.

10) The following information is available for the PeterCompany:
Sales:            $500,000
Invested capital:     $312,500
ROI:            10%
The return on sales is     _____.
ACC 561 Final Exam
11) Company A’s revenues are $300 on invested capital of $240.Expenses are currently 70% of sales. If Angelo Company can reduceits capital investment by 20% in Company A, return on investmentwill be _____.  ACC 561 final exam

12) When the variable costing method is used, fixed factoryoverhead appears on the income statement as a _____. ACC 561 finalexam

13) In absorption costing, costs are separated into the majorcategories of _____.

14) _____ is another term for variable costing.

15) Budgeted service department cost rates protects the userdepartments from _____.
    
16) _____ is an example of the external financial-reporting purposeof the cost management systems. ACC 561 final exam

17) The level of sales at which revenues equal expenses and netincome is zero is called the _____.

18) Output measures of both resources and activities are _____.

19) The break-even point is where _____.

20) _____ budgeting is when budgets are formulated with the activeparticipation of all affected employees. ACC 561 final exam

21) _____ is the logical integration of management accounting toolsto gather and report data and to evaluate performance.
    
22) _____ are components of a master budget.

23) An important factor considered by sales forecasters is _____.ACC 561 final exam

24) _____ models are mathematical models of the master budget thatcan react to any set of assumptions about sales, costs, and productmix.

25) Which of the following is an objective of budgeting?

26) An organization’s budget program should be used  ACC 561ACC561 Final Exam
    
27) The activity-based costing may reveal _________, whereastraditional costing cannot.
    ACC 561 Final Exam
28) _____ is a method of approximating cost functions. ACC 561final exam
 
29) In relation to a cost function, the term reliability refers to_____.

30) One of the simplest methods to measure a linear cost functionfrom past data is the _____.

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