Reference no: EM133265501

Question 1. Which of the following is an example of a direct cost in a restaurant Select one : a. General manager's salary b. Food and beverage . Rent expense d. Advertising

Question 2. The term Cost of Goods Sold is used in the following industries except Select one : a. Manufacturing b. Hospitality c. Merchandising d. Assembly.

Question 3. Suppose an amount of $24,000 is incurred as indirect cost by Department 1 and Department 2how much is the share of Department using Sales Revenue as the basis, provided Dept.1 has a sales of $120,000 and direct cost of $40,000 and Dept. 2 has a sales of $130,000 and a direct cost of $80,000 Select one: a 11,520 b. $12,480 c $9,231 d. $14,769.

Question 4.What do you call an income remaining after direct costs are subtracted from sales revenue, which is available to pay indirect costs Select one a. Contribution Income b. Accounting Income c. Net Income d .Gross Income.

Question 5.It indicates that shareholders actually lost money on their investments over the year. Select one: a . Negative ROE b. Positive ROE . Positive ROA d. Negative ROA

Question 6. this method, cash flow from operating activities is computed by starting with accrual- based net income, and then adding or subtracting certain items from the income statement as well as changes in current assets and current liabilities from the balance sheet Select one a Indirect Method b Direct Method c. Interpolation Method d. Multi-step Method

Question 7. When preparing the statement of cash flow, an increase in long-term assets: Select one : a. decreases cash b. increases cash c. is a cash flow from operations d. decreases shareholders ' equity