Exams & Certification

Joey s Bike Shop sells new and used bicycle parts. Although a majority of its sales are cash sales, it makes a significant amount of credit sales. During 2018, its first year of operations, Joey s Bike Shop experienced the following: Sales on account…………………………………………………………..$260,000 Cash sales…………………………………………………………………..580,000 Collections of accounts receivable…………………………………………235,000 Uncollectible accounts charged off during […]

Wal-Mart is a cost-leader in terms of its highly efficient supply chain and its ability to negotiate steep volume discounts from manufacturers. The retailer executes __ by passing those savings on to consumers in the form of lower prices. A) satisfaction-based pricing B) reference pricing C) relationship pricing D) perceived pricing E) efficiency pricing The

The three general phases of a JHA are 1) Identify the job steps, 2) Identify the hazards for each step, and 3)A. Create a safety and health programB. Identify ways to control the hazardsC. Reconfigure the job steps into a safer processD. Start back at 1) for the next job The correct answer and explanation

What is the primary goal of interest groups? The correct answer and explanation is : The primary goal of interest groups is to influence public policy and decision-making processes in favor of their specific interests or causes. Explanation: Interest groups, also known as advocacy groups or pressure groups, are organizations formed by individuals or entities

Under U.S. GAAP a. Currency signs are generally used in the journal, ledger, trial balance, and financial statements.b. Share Capital – Ordinary is referred to as Retained Earnings.c. The statement of financial position is often called the statement of changes in financial position.d. The rules of debits and credits, and the steps in the recording

Pleiotropy is evident when: A= More than one of the below B = The environment effects the phenotype C = Males are hemizygous (i.e., sex-linked) for a gene D = One trait is influenced by many genes E = A single gene has multiple effects on the phenotype EXPLAIN YOUR ANSWER The correct answer and

Which of the following statements is true regarding the recording process? The correct answer and explanation is : The correct answer is b. Both IFRS (International Financial Reporting Standards) and U.S. GAAP use the same general rules of debits and credits and the steps in the recording process. Explanation: Both IFRS and U.S. GAAP are

Which of the following statements is false concerning the use of currency signs? a. Currency signs do not appear in journals or ledgers.b. Currency signs are generally only shown for the first item in a column and for the column total.c. Currency signs are not typically used in the trial balance.d. All of the choices

One interpretation of Solomon’s account of unrequited love suggests a. that infatuation is a natural extension of unrequited love. b. that infatuation is completely distinct from unrequited love. c. that infatuation and unrequited love and one and the same. d. (a) & (c) The correct answer and explanation is : The correct answer is (a)

Numerous errors may exist even though the trial balance columns agree. Which of the following is not one of these types of errors? a. A transaction is not journalized.b. Transposition error related to the statement of financial position.c. A journal entry is posted twice.d. A journal entry to purchase $100 worth of equipment is posted