1. e. Liabilities – Owners Equity = Assets One of Anil Company’s product has a contribution margin of $50,000 and fixed costs totaling $60,000. As a result of these transactions, its total assets would be: balance. balance. Victoria University. d. Current Cost. a. decreased by $20, As a result of dropping the product, the company’s operating income should: 4. $4, Gkseries provide you the detailed solutions on Accounting as per exam pattern, to help you in day to day learning. d. is designed only to provide information for the taxation authorities, Which of the following is a correct accounting equation? $88, g. Relevant Cost c. provides information for decision making h. Current Cost. If the product is dropped. Accounting for decision making (BAO 1101) Uploaded by. Macquarie University. c. Office Equipment Comparison Between Different Cost Flow Assumptions, Application of different Cost Flow Assumptions, How to Determine the Cost of Ending Inventory, Time series analysis and seasonal variations, Introduction to cost accounting – MCQs quiz, Cost Concept, Analysis and Classifications MCQs. d. $6, Prepaid Rent $8,000, Drawings $70,000, Accounts Receivable $20,000, Loan $75,000, Profit for the year $100,000, f. $9, Owners Equity – Assets = Liabilities a. Sales $500,000, Retained Earnings @ Beginning $50,000: 3. b. a change in owners equity $88, Sample Multiple Choice Questions – Time Limit 10 minutes ... do not refer to any notes as test is “closed book”, Which of the following groups of categories are shown in the Statement of Cash Flows? What is the amount of Prepaid Insurance as at 30 June 2016? Multiple choice questions on Decision Making Process quiz answers PDF to learn online accounting course. c. no change in total assets Chapter 2 – Multiple Choice. Merchandising, operating, financing f. a change in owners equity Learn insourcing versus outsourcing, make versus buy decisions, concept of relevance test prep for online business and administration degree. b. Responsibility Accounting – Multiple Choice Questions (MCQs) Inventory Management MCQs ; Categories Cost accounting MCQs 3 Comments Post navigation. A 12 month insurance policy of $6,000 was paid on 1 April 2016. It is expected to have a useful life of 5 years and Which cost principle is this based on? It is expected to have a useful life of 5 years and $80, c. $3, $1, b. $42, Decision making process quiz questions and answers PDF: Third step in decision making process is, with answers for online business and administration degree. The unit cost of producing this part is: The part can be purchased from an outside supplier at $10 per unit. d. Selling, administering, financing, Assets are initially recorded at cost. e. $42, As a result of these transactions, its total assets would be: All rights reserved. On 1 February 2016, a delivery van was purchased for $45,000. h. Selling, administering, financing, Assets are initially recorded at cost. $80, f. Income tax payable Income tax payable Manufacturing, investing, financing g. Operating, investing, financing Receipt of donated assets. e. Accounts Payable (Creditors) h. $3, Accounting is a process that: h. increased by $30, Which of the following is not included in liabilities? a. Home » Financial Accounting Basics » Financial Accounting Basics Multiple Choice Questions. f. Original Cost a. is only about number crunching b. If the part is purchased from the outside supplier, two-thirds of the fixed costs incurred in producing the part can be eliminated. c. $120, Please sign in or register to post comments. Which cost principle is this based on? Course. Text; Problems; Goals Achievement; Fill in the Blanks; Multiple Choice; Glossary ) , … g. Office Equipment Sales $500,000, Retained Earnings @ Beginning $50,000: University. b. only provides information for the managers of the business Liabilities – Owners Equity = Assets f. Owners Equity – Assets = Liabilities Practice merit scholarships assessment test, online learning decision making process quiz questions for competitive exams in business majors for online bachelor's degree in business administration. Accounting for Decision Making (Brisbane Campus) Semester 2, 2017 Started on Sunday, 27 August 2017, 9:33 PM State Accounting Information for Decision-Making (ACCG106 ... Related documents. Which of the following is described as data that are pertinent to a decision? 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