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Accounting 301: Applied Managerial Accounting Final Exam

Free Practice Test Instructions:

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

Question 1 1. Which method is the simplest method to assign costs to an equivalent unit of production?

Question 2 2. Which is an example of an overhead cost?

Question 3 3. An asset is considered a liquid asset when it _____

Question 4 4. Which of the following would be an example of a horizontal analysis?

Question 5 5. Net present value, or NPV, is calculated using the _____ of the investment and the investment's market value in the future.

Question 6 6. When resources are unlimited, multiple _____ projects with a positive NPV can be accepted.

Question 7 7. What kind of accounting practice must use a standard cost income statement?

Question 8 8. The estimated or expected value of the resources consumed in the production of an item is known as _____.

Question 9 9. On a cash flow statement, which of the following categories would collections from customers be classified as?

Question 10 10. What use does the cash flow statement have for business owners?

Question 11 11. Choose which component of the classified balance sheet represents mortgage and car loan.

Question 12 12. Under which category will 'cash proceeds from the issue of shares' be classified in the statement of cash flows?

Question 13 13. In accounting, what is a journal?

Question 14 14. Predetermined overhead for the ABC Company is calculated based on the number of machine hours. Calculate predetermined overhead given the following information: Total manufacturing overhead = $100,000; number of machine hours = 25,000; number of direct labor hours = 40,000.

Question 15 15. In _____, everything is custom made.

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Accounting 301: Applied Managerial Accounting Final Free Practice Test Instructions

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

Accounting 301: Applied Managerial Accounting  /  Business Courses
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