Posted: April 15th, 2016

Job order cost accounting systems can be used only for companies that manufacture a product.??

The primary goal of managerial accounting is to provide information to:

a. creditors
b. management
c. investors
d. external auditors

On the statement of cash flows prepared by the indirect method, a $50,000 gain on the sale of investments would be

a. added to dividends declared in converting the dividends declared to the cash flows from financing activities related to dividends
b. deducted from dividends declared in converting the dividends declared to the cash flows from financing activities related to dividends
c. deducted from net income in converting the net income reported on the income statement to cash flows from operating activities
d. added to net income in converting the net income reported on the income statement to cash flows from operating activities

When a corporation issues bonds, it executes a contract with the bondholders, known as a bond debenture.

a. True
b. False

If the bonds are purchased between interest dates, the purchase price includes accrued interest since the last interest payment.

a. True
b. False

Loster Company reported a net loss of $14,089 for the year ended December 31, 2008. During the year, accounts receivable decreased ,731, merchandise inventory increased ,803, accounts payable increased by $13,479, and depreciation expense of $4,042 was recorded. What was the net cash used for or provided by operating activities during the year 2008?
Select the correct answer.

a. used net cash of $4,360.
b. used net cash of $14,089.
c. provided net cash of $4,360.
d. provided net cash of $14,089

Job order cost accounting systems can be used only for companies that manufacture a product.

a. True
b. False

Sinking Fund Income is reported in the income statement as

a. extraordinary
b. other income
c. gain on sinking fund transactions
d. income from operations