APU ACCT300 WEEK 5 QUIZ 5
APU ACCT300 WEEK 5 QUIZ 5 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:
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- deferral.
- amortization.
- depreciation.
Question 2 of 20
0.0/ 5.0 Points
The market interest rate related to a bond is also called the:
- stated interest rate.
- effective interest rate.
- contract interest rate.
- straight-line rate.
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 loss for $700.
- an increase in accumulated depreciation for $14,000.
- a total decrease in office furniture for $2,500.
- a decrease in cash for $1,800.
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:
- depletion.
- deferral.
- amortization.
- depreciation.
Question 5 of 20
5.0/ 5.0 Points
Which of the following is not an intangible asset?
- Goodwill
- Trademark
- Copyright
- Long-term receivable
Question 6 of 20
5.0/ 5.0 Points
A bond is simply a form of an interest-bearing note.
- true
- False
Question 7 of 20
5.0/ 5.0 Points
What options does a business have while financing its operations?
- Debt financing
- Equity financing
- Asset financing
- Both debt financing and equity financing
Question 8 of 20
5.0/ 5.0 Points
Expenditures made to extend an asset’s life are called revenue expenditures.
- True
- False
Question 9 of 20
5.0/ 5.0 Points
The exclusive right to use a certain name or symbol is called a:
- franchise.
- patent.
- trademark.
- copyright.
Question 10 of 20
5.0/ 5.0 Points
The accounting term depreciation measures:
- the decline in an asset’s market value.
- the amount of cash a company sets aside for asset replacement.
- the amount of asset cost allocated to expense over periods benefited.
- the anticipated loss if asset is sold in the used-asset market.
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.
- True
- False
Question 12 of 20
5.0/ 5.0 Points
A current liability is a debt that is reasonable expected to be paid:
- between 6 months and 18 months.
- out of currently recognized revenues.
- within one year.
- out of cash currently on hand.
Question 13 of 20
0.0/ 5.0 Points
Which of the following is a reason to undergo a reverse stock split?
- To reduce the stock’s market price per share.
- To increase total stockholders’ equity.
- To reduce total stockholders’ equity.
- To increase the market value of the stock per share.
Question 14 of 20
5.0/ 5.0 Points
Stockholders’ equity:
- is usually equal to cash on hand.
- includes paid-in capital and total liabilities.
- includes retained earnings and paid-in capital.
- is shown on the income statement.
Question 15 of 20
5.0/ 5.0 Points
A current liability is a debt that is reasonable expected to be paid:
- between 6 months and 18 months.
- out of currently recognized revenues.
- within one year.
- out of cash currently on hand.
Question 16 of 20
0.0/ 5.0 Points
Fixed assets are reported at their book value on the balance sheet.
In
- True
- False
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?
- Freight costs
- Vandalism
- Sales taxes
- Surveying fees
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