Which of the following is not a good example of how accountants might use data analytics to help evaluate estimates used to value financial statement accounts?
A. Estimate the collectability of accounts receivable balances.
B. Automate the order entry process for online customers.
C. Assess the likelihood and level of expected warranty claims.
D. Assess property, plant & equipment values based on current comparable prices.
Answer: B
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Which of the following statements is not supported by empirical evidence from capital market research?
a. Accounting earnings appear to have information content and to affect security prices. b. Alternative accounting policies with no apparent direct or indirect cash flow consequences to the firm do not seem to affect security prices. c. There are no incentives to choose certain alternative accounting policies over others because there are never cash consequences. d. Accounting-based risk measures correlate with market risk measures, suggesting that accounting numbers are useful for risk assessment.
Songster Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual overhead costs for the most recent month appear below: Original BudgetActual CostsFixed overhead costs: Supervision$14,100 $13,650 Utilities 5,300 5,060 Factory depreciation 7,200 7,470 Total overhead cost$ 26,600 $ 26,180 The company based its original budget on 3,500 machine-hours. The company actually worked 3,700 machine-hours during the month. The standard hours allowed for the actual output of the month totaled 3,820 machine-hours. What was the overall fixed manufacturing overhead budget variance for the month?
A. $2,432 Favorable B. $420 Favorable C. $2,432 Unfavorable D. $420 Unfavorable
What is the primary reason why retailers tend to locate high-draw items around the periphery of the store?
A) More shelf space for those popular items is available around the periphery. B) There will be less congestion of customers than there would be in the middle. C) This arrangement will help to maximize customer exposure to other items in the store. D) It is easier to put large advertisement signs on the outside walls right next to the items. E) This arrangement allows customers to travel through the store as quickly as possible.
Google+ is very large, with a more engaged user base than other social media networks.
Answer the following statement true (T) or false (F)