ACC 561 Final Exam Latest UOP Assignments

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ACC 561 Final Exam Question Answers

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49.Which of the following is an advantage of
corporations relative to partnerships and sole
proprietorships? Lower taxes. Harder to transfer
ownership. Most common form of organization. Reduc
ed legal liability for investors.   Complete
Answers here 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.
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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. reports the changes in assets,
liabilities, and stockholders equity over a
period of time.   Download now ACC 561 Week 1
Complete     118. The most important information
needed to determine if companies can pay their
current obligations is the net income for this
year. relationship between current assets and
current liabilities. projected net income for
next year. relationship between short-term and
long-term liabilities. 124. A liquidity ratio
measures the short-term ability of a company to
pay its maturing obligations and to meet
unexpected needs for cash. percentage of total
financing provided by creditors. income or
operating success of a company over a period of
time. ability of a company to survive over a long
period of time.
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• Complete paper here ACC 561 Week 2 Quiz (Latest)
•  
•  
• 165. The convention of consistency refers to
  consistent use of accounting principles
• throughout the accounting periods.
• among firms.
• within industries.
• among accounting periods.
• 90.Horizontal analysis is also known as
• common size analysis.
• linear analysis.
• vertical analysis.
• trend analysis.
• 92. Horizontal analysis is a technique for
  evaluating a series of financial statement data
  over a period of time
• to determine which items are in error.
• that has been arranged from the highest number to
  the lowest number.
• to determine the amount and/or percentage
  increase or decrease that has taken place.

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• 111. Vertical analysis is a technique that
  expresses each item in a financial statement
• as a percent of a base amount.
• in dollars and cents.
• starting with the highest value down to the
  lowest value.
• as a percent of the item in the previous year.
• Want more details? Download now ACC 561 Week 2
  Complete
•  
• 41. Process costing is used when
• the production process is continuous.
• costs are to be assigned to specific jobs.
• production is aimed at filling a specific
  customer order.
• dissimilar products are involved.
• 43. An important feature of a job order cost
  system is that each job
• must be similar to previous jobs completed.
• has its own distinguishing characteristics.
• must be completed before a new job is accepted.
• consists of one unit of output.

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• 49. In a process cost system, product costs are
  summarized
• on job cost sheets.
• on production cost reports.
• when the products are sold.
• after each unit is produced.
• 33. An activity that has a direct cause-effect
  relationship with the resources consumed is a(n)
• overhead rate.
• product activity.
• cost driver.
• cost pool.
•  
• Find the quiz answers here ACC 561 Week 3 Quiz
  (Latest)

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40. Activity-based costing allocates overhead to
multiple activity cost pools, and it then assigns
the activity cost pools to products and services
by means of cost drivers. assigns activity cost
pools to products and services, then allocates
overhead back to the activity cost
pools. accumulates overhead in one cost pool,
then assigns the overhead to products and
services by means of a cost driver. allocates
overhead directly to products and services based
on activity levels. Find the quiz answers here
Download for answers ACC 561 Week 3
Complete   40. A cost which remains constant per
unit at various levels of activity is a mixed
cost. fixed cost. manufacturing cost. variable
cost. 105. The break-even point is where total
sales equal total variable costs. total variable
costs equal total fixed costs. total sales equal
total fixed costs. contribution margin equals
total fixed costs.
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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 Click here and download ACC 561
Week 4 Quiz (Latest)   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. Want help? Click to
download ACC 561 Week 4 Complete   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. variable costing, in
order to decrease net income. absorption costing,
in order to increase net income. absorption
costing, in order to decrease net income.
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50. An unrealistic budget is more likely to
result when it has been developed by all levels
of management. has been developed in a bottom up
fashion. has been developed in a top down
fashion. is developed with performance appraisal
usages in mind. Complete Answers just a click
away ACC 561 Final Exam   39. A major element in
budgetary control is the valuation of
inventories. the preparation of long-term
plans. approval of the budget by the
stockholders. the comparison of actual results
with planned objectives. 43. The purpose of the
sales budget report is to control sales
commissions. control selling expenses. determine
whether income objectives are being
met. determine whether sales goals are being met.
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89. The accumulation of accounting data on the
basis of the individual manager who has the
authority to make day-to-day decisions about
activities in an area is called flexible
accounting. static reporting. responsibility
accounting. master budgeting. To download the
complete answer check ACC 561 Week 5
Complete   142. Variance reports are external
financial reports. SEC financial
reports. internal reports for management. all of
these. 40. Internal reports that review the
actual impact of decisions are prepared by the
controller. management accountants. factory
workers. department heads. To download the
complete paper click ACC 561 Week 6 Quiz (Latest)
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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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70. Carter, Inc. can make 100 units of a
necessary component part with the following
costs Direct Materials       120,000 Direct
Labor             20,000 Variable Overhead
60,000 Fixed Overhead      40,000 If Carter can
purchase the component externally for 220,000
and only 10,000 of the fixed costs can be
avoided, what is the correct make-or-buy
decision? Buy and save 30,000 Make and save
10,000 Buy and save 10,000 Make and save
30,000 Final Exam Answers just a click away ACC
561 Final Exam (Latest)   84. A company has a
process that results in 15,000 pounds of Product
A that can be sold for 16 per pound. An
alternative would be to process Product A further
at a cost of 200,000 and then sell it for 28
per pound. Should management sell Product A now
or should Product A be processed further and then
sold? What is the effect of the action? Sell now,
the company will be better off by 20,000. Sell
now, the company will be better off by
200,000. Process further, the company will be
better off by 180,000. Process further, the
company will be better off by 20,000.
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About Author   This article covers the topic for
the University Of Phoenix ACC 561 Final Exam. The
author is working in the field of education from
last 5 years. This article covers the basic
of ACC 561 Final Exam Assignment from UOP. Other
topics in the class are as follows ACC 561 Week
1 DQ 1 ACC 561 Week 1 DQ 2 ACC 561 Week 1 Quiz
(Latest) ACC 561 Week 1 WileyPLUS Assignment ACC
561 Week 1 Financial Statement Review ACC 561
Week 1 Complete ACC 561 Week 2 DQ 1 ACC 561 Week
2 DQ 2 ACC 561 Week 2 Quiz (Latest) ACC 561 Week
2 Ratio Analysis Assignment ACC 561 Week 2
Financial Statement Analysis ACC 561 Week 2
Complete ACC 561 Week 3 DQ 1 ACC 561 Week 3 DQ
2 ACC 561 Week 3 Quiz (Latest) ACC 561 Week 3
Costing Systems Assessment
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ACC 561 Week 3 Learning Team Assignment ACC 561
Week 3 Complete ACC 561 Week 4 DQ 1 ACC 561 Week
4 DQ 2 ACC 561 Week 4 Quiz (Latest) ACC 561 Week
4 WileyPLUS Assignment ACC 561 Week 4 Learning
Team Reflection ACC 561 Week 4 Complete ACC 561
Week 5 DQ 1 ACC 561 Week 5 DQ 2 ACC 561 Week 5
Quiz (Latest) ACC 561 Week 5 WileyPLUS
Assignment ACC 561 Week 5 Budgeting
Assignment ACC 561 Week 5 Learning Team
Assignment ACC 561 Week 5 Complete ACC 561 Week 6
DQ 1 ACC 561 Week 6 DQ 2 ACC 561 Week 6 Quiz
(Latest) ACC 561 Week 6 WileyPLUS Assignment ACC
561 Week 6 Complete ACC 561 Final Exam
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