Posted: July 10th, 2016

When a job is completed in a service organization, the job costs are transferred to the?

When there are material differences between the results of using the straight-line method and using the effective interest method of amortization, the effective interest method should be used.

a. True
b. False

The job order costing system is used by service firms to determine revenues, expenses, and ultimately profit.

a. True
b. False

A company that has 25,000 shares of $5.00 par value common stock issued and outstanding paid a dividend of $.75 per share. The market value of the stock is $20.00 per share. The company’s dividend yield is:

a. 400%
b. 25%
c. 3.75%
d. 15%

Cash outflows from financing activities include the payment of cash dividends, the acquisition of treasury stock, and the repayment of amounts borrowed.

a. True
b. False

When a job is completed in a service organization, the job costs are transferred to the

a. finished goods account.
b. work in process account.
c. cost of goods sold account.
d. cost of services account

The vice presidents of production and sales and the controller hold line positions in most large organizations.
a. True
b. False