Which of the following accounts should be closed to Income Summary at the end of the fiscal year?
A) Merchandise Inventory
B) Accumulated Depreciation
C) Drawing
D) Cost of Merchandise Sold
D
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Which assertions may be tested for the "transactions and events" category of management assertions?
A. Existence, rights and obligations, accuracy, authorization, and completeness. B. Occurrence, completeness, rights and obligations, accuracy, cutoff, and classification. C. Existence, completeness, rights and obligations, accuracy, cutoff, classification, and presentation. D. Occurrence, completeness, authorization, accuracy, cutoff, classification, and presentation.
How should a candidate prepare a resume so it can be entered successfully in an applicant tracking system?
A) Put key words in italics B) Include additional design elements C) Send the resume as a Word file D) Include links E) Create a plain-text version
Refer to the following selected financial information from Texas Electronics. Compute the company's acid-test ratio for Year 2. Year 2 Year 1Cash$37,500 $36,850 Short-term investments 90,000 90,000 Accounts receivable, net 85,500 86,250 Merchandise inventory 121,000 117,000 Prepaid expenses 12,100 13,500 Plant assets 388,000 392,000 Accounts payable 113,400 111,750 Net sales 711,000 706,000 Cost of goods sold 390,000 385,500
A. 3.05. B. 2.26. C. 1.98. D. 2.95. E. 1.88.
Consider the following linear programming model:
Max X1 + X2 Subject to: X1 + X2 ? 2 X1 ? 1 X2 ? 3 X1, X2 ? 0 This linear programming model has: A) alternate optimal solution B) unbounded solution C) redundant constraint D) infeasible solution E) unique solution