Accounting Questions and Answers October 23, 2018

Define an accounting system and identify an effective accounting system's main function.

1) Identify an accounting system. 2) Identify and discuss major elements of an effective accounting system. 3) Discuss management's responsibility for an effective accounting system.

The amount on the shares which is actually demanded by thecompany to be paid is known as: a. Paid-up Share Capital b. Subscribed Share Capital c. Called-up Share Capital d. Issued Share Capital

The access and legitimacy paradigm focuses on a the acceptance and celebration of differences to ensure that the diversity within a company matches the diversity found among primary stakeholders bringing different talents and perspectives together

66 In Transport costing fixed charges are also called as O A Standing Charges O B Variable Charges O C Semi variable Charges O D None of these67 Which of the following is a direct labour cost A OSupervisors salary in the factory B OBonus paid to the

Under Armour used product placements in "Any Given Sunday" to help promote the brand. This likely involved the company paying cash to the producers of the film so that they would feature the brand prominently. This type of arrangement is very

8 In graphical method the restriction on number of constraint is A 2 B3 C not more than 3 D none of them D pivot element 10 Which of the following statements is true A A less than or equal to constraint with positive slack in the optimal solution

Frontier Ltd. is a company that provides holistic proofreading, editing and advisory services for clients. It enters into a 3-year contract with client Sapphire with the following clauses: Frontier will provide holistic proofreading and advisory

Stoney Construction Co. enters a 3-year contract to build a new warehouse facility. Stoney follows Completed Contract Method under U.S. GAAP and adopts progress billing accounting for its construction project. Information for Years 1, 2, and 3 is

J Stardust manufactures plastic chairs Information related to the sale and production during the month of March is as follows Units sold Revenue Variable costs Direct material Direct labor Variable manuf overhead Total Contribution margin Fixed

How to do a sensitivity analysis in Excel with the following data. Decision variables are in red, inputs are in blue. The optimal solution (final cost)has already been found, just not sure what data to use in a table to perform the sensitivity

D 1 Carrler selection for telecommunication company with volume discounts 3 Inputs 5 6 Carrier 1 Price intervals 8 9 Carrier 2 10 11 12 Carrier 3 13 14 15 16 Unit prices 17 18 Carrier 1 19 21 Carrier 2 22 23 21 Carrier 3 25 26 27 28 Penalties per

Jinx Incorporated manufactured a machine on January 1 2022 for 250000 the machine had a sales price of 270000 The machine was leased to Pine Company lessee under a lease whereby Pine paid the first lease payment on January 1 2022 and agreed to pay

While assigning work on email, you should- Select one: a. Set up a deadline and follow up accordingly b. Use bold alphabets c. Never give any deadline d. Just ask them to get it done

A businesss finance activities include preparing budgets; doing cash flow analysis; and planning for the expenditure of funds on such assets as plant, equipment, and machinery. These activities all need to be monitored carefully by a financial

The government has recently come up with an initiative to encourage business enterprise. A business agency has been set up by the government and you have been appointed as the business adviser. Aslam has arranged to see you and talk through his idea

ZOO Revenue from singleday ticket sales at a local zoo can be modeled by the function yx 25x 80 and revenue from season pass sales can be modeled by the function y4x 200 In both functions x represents the number months and y represents the total

Suppose Simone is trying to solve a linear system with m 23 equations and n 57 unknowns Simone found 2 solutions to the system How many solutions are in the solution set of her system O 23 O Infinitely many O 57 02

To win the Georgia lottery you need to pick 5 numbers 1 to 69 and 1 Powerball numbered 1 to 26 There are different ways to win different amounts of money based on how much you get right What is the probability that you win exactly 100

6. What is a wash factor? How does it affect revenuemanagement?

The spleen is the largest of the secondary lymphoid organs It is highly efficient in trapping and concentrating foreign substances carried in the All of the above blood All of the above Selected Answer Answers urine lymph

Average cost is obtained by dividing. total cost by the related quantity total fixed cost by the related quantity average fixed cost and average variable cost by the quantity produced. total variable cost by the related quantity. marginal cost by

Altex Corporation - Case Study BACKGROUND Following World War II, the United States entered into a Cold Warwith Russia. To win this Cold War, the United States had to developsophisticated weapon systems with such destructive power that anyaggressor

6 Ownership securities are represented by A O stock B O loan C O debt D O debentures

Average height of a species of tree in feet after a certain number of years Years 1 2 3 4 5 6 7 8 Height 21 32 68 73 112 126 134 159 3 What is the correlation coefficient for the set of data Round your answer to the nearest thousandth O 0014 0989 O

3 Determine if the following vector fields are conservative or not For any that are conservative find a potential function a Fx y z yz xz xy b Gx y z yxz y c II x y z y sinz zsinz ry cosz

Answer the following question involving a conversion within the USCS system Use units to justify your work 10 The customer bought a peck of flour How many cubic inches of flour did he buy A 5376 in3 B 672 in3 C 336 in3 D 2688 in 3 69 c

Accounting furnishes data on A Income and cost for the managers B Financial conditions of the institutions C Companys tax liability for a particular year D All of the above

An appliance manufacturer maintains a repair center for its customers Based on past experience 30 of all appliances sent in for repair have a mechanical problem M and 70 have an electrical problem E If the problem is mechanical 90 of the appliances

Today this is a global industry embracing design activities, cutting and processing operations, assembly, distribution and sales - all fueled by a huge demand for differentiation and personalization. This is an industry in which price is only one

A survey was conducted to determine how people rated the quality of programming on television A random selection of 25 people rated the overall quality from 0 no quality at all to 100 good quality The stemandleaf display is shown below The sample

Allonby Foods processes frozen meals for sale in grocery and other retail outlets. Two versions are produced: The FlavorPak version has a budgeted price of $16 per case and a standard variable cost of $9 per case. The Gourmet version has a budgeted

In a certain population if a single persons income is between 40000 and 99000 then the person owes 812525 plus 32 of any taxable income over 40000 The formula giving tax owed T as a function of the taxable income I over 40000 is given by OT 32

In your capacity as a certified Islamic accountant who has been working for several years at HSBC Bank and presented to you the details of the two partnership financing contracts, and based on the applications of the partnership financing standard,

You are considering in a security that has the following cash flow pattern At the end of year 6 you will receive the first payment of 300 Every year after that you will receive the same amount forever What is the maximum amount that you should be

Mitchell is cutting and resewing a plain rectangular table cloth to fit a square table The cloth can be turned into a square by increasing the width by 4 ft and reducing the length by 6 ft There is no waste and the area of the rectangular blanket

Find the solution to the system of equations You can use the interactive graph below to find the solution y 2x3 y3x3 x y 4 Sed I 765432 765432 1 2 2341 3 at a 12 30 4567 H

1 point Sometimes a change of variable can be used to convert a differential equation y ft y into a separable equation One common change of variable technique is as follows 1 Consider a differential equation of the form y fat Byy where a p and y are

Northfield Nexus Ltd has never paid a dividend on its common stock but is expected to pay its first annual dividend of 350 two years from today The market anticipates that Northfield will increase the dividend 600 per year for the next 8 years years

Permeable dike fields are built from rows of timber piles They do not block the flow but rather slow it down due to the extra drag They are often used in rivers to provide bank protection andor to improve river navigability An example of a dike

Most homebuyers have the choice of a 15year mortgage or a 30 year mortgage Calculate the difference in payments on a 30year mortgage at current interest rates located on Yahoo Finance versus a 15year mortgage at current interest rates Assume that

Lanar Corporation uses a joborder costing system The following data are for last year Work in process beginning balance Work in process ending balance Cost of goods manufactured Direct materials Manufacturing overhead applied O 136500 O 117500 What

Q1 Given an example for parameterstatistic Q2 Normalization If X N1 32 what is the Z score for X Q3 In Q2 given 1 P2 X 4 Q4 Given X Nu 32 what is the sampling distribution of X

7 points Two pesticides are being considered for treating Zika Virus in Florida Pesticide 1 has a NOEC of 08 ppm and a 96h LC50 of 5ppm for aquatic life whereas pesticide 2 has a NOEC of 10 ppm and a 96h LC50 of 30ppm The Range of Concentrations in

Analytical At Question 3 Revisit Alex checks next weeks exam schedule for the following five subjects Math French English Psychology and Science The exams are held consecutively from Monday until Friday and there is only one exam per day The Math

To balance the chemical equation SiH3 O2 SiO2 HO you could introduce coefficients a b c d and write aSiH3 bO2 cSiO dHO then write linear equations for each element The equation for Si would be The equation for H would be Submit Question

Arrange the steps in the correct order to find a formula for when mis a positive integer Rank the options below In general the number of is is 13P3231 So we need to sum 3231 for an appropriate range of values for f we write down the first few tenns

2 Construct a 2 x 2 matrix B such that AB is the zero matrix Use two different nonzero columns for B 36 12 Let A

WINGSUIT A wingsuit flyer jumps off a tall cliff He falls freely for a few seconds before deploying the wingsuit and slowing his descent His height during the freefall can be modeled by the function y49x 420 where y is the height above the ground in

A company produces two kinds of products A and B in a single machine The machine operates for 20h every day The production of each item A consumes 3h of the machine time while the production of each item B consumes 5h of the machine time You want to

You are the marketing director of Proctor and Proctor Pharmaceuticals PP You are trying to decide whether to run an advertising campaign for a new shampoo product Bubbles The cost of the ad campaign is 1m Your marketing research team forecasts that

Consider the system of linear constraints 2x1 x 100 x1 x2 80 X140 xX1 X2 0 i Write this system of constraints in standard form and determine all the basic solutions feasible and infeasible ii Determine the extreme points of the feasible region

2 Let an and b be two sequences with a and b either both converge or both diverge R1 DO 2 b 3 Use the comparison test with examples from class to decide whether the following series are convergent or divergent c 00 n2 Inn n b for all nN for some Me

The yearend of Xakwa Mining a business entity owned by Mr Manenzhe is 31 December On 1 January 2021 the statement received from the municipality showed that the company had overpaid by R2 500 Xakwa Mining received electricity accounts for the four

Problem 4 Prove this strong version of the pigeonhole property let 9 92qm be positive integers If 91 92 9mm1 objects are placed into m boxes then the first box must contain q objects or the second box must contain 92 objects or the last box must

A model train engine was moving at a constant speed on a straight horizontal track As the engine moved along a marble was fired into the air by a spring in the engines smokestack The marble which continued to move with the same forward speed as the

You are given a data set and this word document that describes your required tasks for HW1. This individual homework mirrors the skill requirements for your group project. It is expected to help you in the process in the areas of descriptive

Let Ifft dt and suppose we approximate the integral by R and L Put the numbers I R and L in order from smallest to largest in each of the following cases Please draw pictures and write complete english sentences to explain why your ordering doesnt

Suppose the graph represents the sales of goods of a company from the year 2000 to 2008 a Find the average rate of change from x 1 to x 4 and interpret b Find the average rate of change from x 4 to x 7 and interpret Sales In Thousands of 60 40

Assume that the citizens can still build a water purification plant at 600 and the firm at 300 but the pollution damages are 100 instead of 1000 a If property rights are assigned to the victims what is the Coase solution b If property rights are

On the basis of the case facts, should the Company (Stanley & Sons Inc.) record revenue from the arrangement on a gross or net basis? Provide an analysis supporting your conclusion based on US GAAP (section 606) . FASB ASC Research Case Stanley &

PROBLEM 5 Let S be a nonempty subsets of R Suppose f S R and g S R are bounded functions this means their ranges are bounded subsets of R a Show that fx gx x S cfx x S gx x S b Prove that supfx gx x S supfx x S supgx x S c Give an

HB Haulage is a transport company The management accountant wants to predict the maintenance costs of trucks for the financial year 2022 She budgets a total of 12000000 km driven and 2350000 tons hauled She is not sure if km driven or tons hauled is

The distribution of the amount of money spent by students on textbooks in a semester is approximately normal in shape with a mean of 394 and a standard deviation of 20 According to the standard deviation rule almost 16 of the students spent more

John materially participated in a business in 2020 and had gross receipts (income from the business) in the amount of $250,000.00. He also gave a refund to a client in 2020 for $1,000.00. He uses the cash method for accounting purposes. What is his

1 point Consider the chemical reaction aCHAbO CCO dHO where a b c and d are unknown positive integers The reaction mush be balanced that is the number of atoms of each element must be the same before and after the reaction For example because the

The differential equation y 2y 3y siny is Select the correct answer a first order linear b second order linear c third order linear d first order nonlinear e second order nonlinear

For any S TCR we define the subsets ST st se S te T stse S te T ST For each of the following assertions either prove it or provide a coun terexample a If S is open then S T is open b if S is open then S T is open

Q1 2 pts Let XTrue False and n E N A multivariate Boolean function F Xn X is a rule that for each argument PE X produces a unique value FP X Show that every Boolean function can be expressed in terms of components of P using a conjunctions

10 marks Let Tux 2ux if 0 x 12 2u1x if 12 x 1 12 Notice that when u 1 we recover the Tent function Tx discussed last week Show that x is an eventually fixed point of the function Tx

Assume that a closed economy is characterized by the following in the short run C 10034YT I170500r G 125T100 LrY2Y10000r M10000 P 5 a Use the information to derive the IS and LM equations b Use the IS and LM equations to derive the level of Y r C

A ball is thrown upward in the air and its height above the ground after t seconds is Ht 89t 4905 meters a Find the time t when the ball will be traveling upward at 2225 meters per second Give your answer as a decimal approximation with at least 3

The Taylors have purchased a 150000 house They made an initial down payment of 40000 and secured a mortgage with interest charged at the rate of 5year on the unpaid balance Interest computations are made at the end of each month If the loan is to be

We want to compute an approximation to e6 given by Pn16 where Pnx is the Taylor polynomial of degree n about a 0 of the function e Find n as small as possible to ensure that the absolute error satisfies e6 Pn16 104 Note since e 656 you can use

a 5 pts Show that the curve at cosht sinh t t has arclength function et et et e st 2 sinh t where cosh t and sinht 2 b 5 pts Show that sinh x lnx x 1 c 5 pts Find an arclength parameterization for a 2

Given the function fx In 3x 1 1 Write the Taylor series centered at zero for the function fr Write a program to plot the exact function and the Taylor series approximation on z 005 using 2 and 5 terms For the plots use Az 0001 Explain your

American by Birth. Rebel by Choice. (the sloganfor Harley Davidson). Identify and explain what specific emotions did theslogan, sales pitch, or maxim stated aboveappeal.

Research is much concerned with proper fact finding, analysis and evaluation. Do you agree with this statement? Give reasons in support of your answer.

Dollmaker Sdn Bhd produces dolls for children at its factory The factory has three production departments namely Moulding Assembly and Glazing The company uses predetermined departmental rates for the absorption of overheads into its products The

On average, weight of carry-on baggage of passengers on planesis 32.2 pounds. Assuming a standard deviation off 4.3 pounds, findthe probability that the average weight of carry-on baggage of arandom sample of 40 passengers exceeds 30 pounds

Evaluate the definite integral 5 dx 4 3 3x 5 dx 5 3 S 3x 5 4 Round to four decimal places as needed

b Emily Rebecca and Caroline are training for a marathon They need to train by running several times a week over a sixweek period The probability that on a particular day Emily chooses to run is 045 for Rebecca this probability is 025 and for

Find the equation of the line containing both 2 3 and 5 9 in the general form Ax By C 0 Note There are may possible answers because there 3 unknowns and there are only 2 degrees of freedom for a line a Find an equation of the general form where C

The following refer to the following data set 441 852 694 852 629 852 538 658 596 77 What is the arithmetic mean of this data set mean What is the median of this data set median What is the mode of this data set mode

6 The Quindecim wants to run a column asking readers whether they approve of paths in the woods The student reporter receives approximately 484 responses Nearly 91 said they were satisfied with the wooded paths with a margin of error of about 5 a

Determine the rank and nullity of the matrix A A 1 5 20 4 16 42 28 1 3 8 6 6 1 17 1 10 1 4 14 2 1 3 0 0 12 0 0 0 006 0 0 0 0 0

Examine the conditions under which a liquid FeMn alloy can be in equilibrium with an FeOMnO liquid solution in an atmosphere containing oxygen at 1800C For and for Mn1 AG i Og MnO1 344 800 5590T J Fe1 Og FeO1 AGii 232700 4513T J Part a What

The Continental hotel is situated in London. The hotel charges 250 per night per room. The hotel also has an excellent quality restaurant. From the following information that relates to the Hotel, you are required to prepare a month-by- month cash

You are the Group Accountant for the Australian-based company GIRAFE Ltd. The Chief Financial Officer (CFO) has asked you to provide a report related to information/transactions outlined below in preparation of the annual report of the company for

Consider a Poisson distribution with u 5 If needed round your answer to four decimal digits a Choose the appropriate Poisson probability mass function 1 5e5 5 e5 III fx Select your answer b Compute 2 5 e 5 iv c Compute 1 d Compute Px 2 fx t5e5

a On 1 January 2020 the records of Wilson Electrical Supplies showed that the Bank Overdraft account in the general ledger had a balance of 1 87000 Cr The bank reconciliation as at 31 December 2019 agreed with the general ledger as at 31 December

Which of these basic questions should a vision statement answer A What is our business B Who are our employees Why do we exist D What do we want to become

Consider the following figure State the inequalities of the vertically simple region defined by the triangle OSXS sys Set up the double integral with the triangle as vertically simple SD 0 AS GA Submit So you cannot come back Additional Materials

Business analysts claim that, after breaking -even (reaching a point of no profit and no loss ), a 1 0/0 increase in sales will increase net profit by 5%. However , during the last financial year many companies that broke -even and showed more than

9 a In a TV game show there are 5 prizes behind 5 separate curtains The show MC hands the contestants 5 cards with the names of each prize written on a different card The contestant then places the cards in front of the curtains any way they choose

Ability includes which of these Natural aptitude and intensity Persistence and direction Intensity and learned capabilities Aptitudes and learned skills Direction and intensity

The business incurs the following costs for the next financial year Direct materials cost 110000 Indirect materials 23000 Direct labour time 18000 hours Rent 26000 Depreciation of equipment 45000 Supervisors salaries 65000 Design time costs

Write the following sets using the set notation x Px Part a 4 5 Part b The set of rational numbers whose square is less than 2

This problem involves the function gx from the previous problem Recall that gx is an even function on the interval 6 6 The following is the graph of gx on 0 6 O 2 2 201 3 65 4 55 6 xLet hx be the function given by rx hx gt dt I a 1 point Write a

s At the end of 2020 Durrell Inc reported an ending balance in its allowance for bad debt of 3872000 At the end of 2021 the company recorded bad debt expense of 5800000 If Durrell Inc reported an allowance for bad debt on its 2021 balance sheet of

What is Deferred tax If the tax rate is 20 for company pass the journal entries related to income tax for all three years 15 Details Accounting Profit Taxable Profit 2020 12000 12000 2021 12000 10000 2022 12000 14000