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APU ACCT300 week 4 quiz 4

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Question;Question 1 of 20;5.0/ 5.0 Points;The process of transferring the cost of metal ores and other;minerals removed from the earth to an expense account is called;A.depletion.;B.deferral.;C.amortization.;D.depreciation.;Answer Key;Question 2 of 20;0.0/ 5.0 Points;The market interest rate related to a bond is also called;the;In A.stated;interest rate.;B.effective interest;rate.;C.contract interest;rate.;D.straight-line rate.;Answer Key;Question 3 of 20;0.0/ 5.0 Points;A company sold office furniture costing $16,500 with;accumulated depreciation of $14,000 for $1,800 cash. The entry to record the;sale would include;A.a loss for $700.;In B.an;increase in accumulated depreciation for $14,000.;C.a total decrease in;office furniture for $2,500.;D.a decrease in cash;for $1,800.;Answer Key;Question 4 of 20;5.0/ 5.0 Points;The process of transferring the cost of metal ores and other;minerals removed from the earth to an expense account is called;A.depletion.;B.deferral.;C.amortization.;D.depreciation.;Answer Key;Question 5 of 20;5.0/ 5.0 Points;Which of the following is not an intangible asset?;A.Goodwill;B.Trademark;C.Copyright;D.Long-term receivable;Answer Key: D;Question 6 of 20;5.0/ 5.0 Points;A bond is simply a form of an interest-bearing note.;A. true;B. False;Answer Key;Question 7 of 20;5.0/ 5.0 Points;What options does a business have while financing its;operations?;A.Debt financing;B.Equity financing;C.Asset financing;D.Both debt financing and equity financing;Answer Key;Question 8 of 20;5.0/ 5.0 Points;Expenditures made to extend an asset?s life are called;revenue expenditures.;A. True;B. False;Answer Key;Question 9 of 20;5.0/ 5.0 Points;The exclusive right to use a certain name or symbol is;called a;A.franchise.;B.patent.;C.trademark.;D.copyright.;Answer Key;Question 10 of 20;5.0/ 5.0 Points;The accounting term depreciation measures;A.the decline in an;asset?s market value.;B.the amount of cash;a company sets aside for asset replacement.;C.the amount of asset cost allocated to;expense over periods benefited.;D.the anticipated loss;if asset is sold in the used-asset market.;Answer Key;Question 11 of 20;5.0/ 5.0 Points;If paid-in capital in excess of par-preferred stock is;$80,000, preferred stock is $500,000, paid-in capital in excel of par-common;stock is $50,000, common stock is $1,000,000, and retained earnings is;$230,000, the total stockholders? equity is $1,860,000.;A. True;B. False;Answer Key;Question 12 of 20;5.0/ 5.0 Points;A current liability is a debt that is reasonable expected to;be paid;A.between 6 months;and 18 months.;B.out of currently;recognized revenues.;C.within one year.;D.out of cash;currently on hand.;Answer Key;Question 13 of 20;0.0/ 5.0 Points;Which of the following is a reason to undergo a reverse;stock split?;A.To reduce the;stock?s market price per share.;In B.To;increase total stockholders? equity.;C.To reduce total;stockholders? equity.;D.To increase the;market value of the stock per share.;Answer Key;Question 14 of 20;5.0/ 5.0 Points;Stockholders? equity;A.is usually equal to;cash on hand.;B.includes paid-in;capital and total liabilities.;C.includes retained earnings and paid-in;capital.;D.is shown on the;income statement.;Answer Key;Question 15 of 20;5.0/ 5.0 Points;A current liability is a debt that is reasonable expected to;be paid;A.between 6 months;and 18 months.;B.out of currently;recognized revenues.;C.within one year.;D.out of cash;currently on hand.;Answer Key;Question 16 of 20;0.0/ 5.0 Points;Fixed assets are reported at their book value on the balance;sheet.;In;A. True;B. False;Answer Key;Question 17 of 20;5.0/ 5.0 Points;Which of the following expenditures would not be included in;the cost of a fixed asset?;A.Freight costs;B.Vandalism;C.Sales taxes;D.Surveying fees;Answer Key;Question 18 of 20;5.0/ 5.0 Points;The balance in Accumulated Depreciation account is deducted;from the cost of fixed assets on the balance sheet.;A. True;B. False;Answer Key;Question 19 of 20;5.0/ 5.0 Points;For the year that just ended, a company reports net income;of $1,500,000. There are 500,000 shares authorized, 300,000 shares issued, and;250,000 shares of common stock outstanding. What is the earnings per share?;A.$5.00;B.$2.50;C.$6.00;D.$3.00;Answer Key;Question 20 of 20;0.0/ 5.0 Points;Which of the following is a reason to undergo a reverse;stock split?;A.To reduce the;stock?s market price per share.;In B.To;increase total stockholders? equity.;C.To reduce total;stockholders? equity.;D.To increase the;market value of the stock per share.;Answer Key

 

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