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ACCT 5312 FINAL EXAM LATEST 2026-2027 ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (100%
VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED|| ||BRANDNEW!!!||
The gross profit ratio is useful to the manage for each of the
following purposes except that: - ANSWER-it can be used to
estimate the amount of operating expenses for a period.
Which of the following accounts/captions are not ever included in
the calculation for Gross profit? - ANSWER-General and Selling
Expenses.
When the periodic inventory system is used: - ANSWER-cost of
goods sold can be calculated by subtracting the ending inventory
amount from the sum of beginning inventory and net purchases.
income from operations is: - ANSWER-sometimes used in the
ROI calculation.
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The earnings per share of common stock calculation: - ANSWER-
is complicated by the presence of preferred stock in the capital
structure.
An item that cost $90 is sold for $120. The gross profit ratio for
this item is: - ANSWER-25%
An item that cost $240 is to be sold for a price that will yield a
gross profit ratio of 20%. The selling price should be: - ANSWER-
$300
Recognition of revenue in accrual accounting requires: -
ANSWER-that the revenue be realized or realizable, and earned.
the major difference between the indirect and the direct method of
a statement of cash flows appears in which the following activities
sections(s)? - ANSWER-The operating activities section only.
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Which of the following is an accurate statement regarding a
statement of cash flows? - ANSWER-All material operating,
investing, and financing activities are included.
In the statement of cash flows, depreciation and amortization
expense is added back to net income because: - ANSWER-these
expenses do not affect cash, but were subtracted in the
determination of net income.
In the statement of cash flows, an increase in the accounts
receivable balance from the beginning of the period to the end of
the period would: - ANSWER-be subtracted from net income
because this means that revenues were more than cash
collected.
Revenue may be recognized: - ANSWER-if a company trades
inventory at its usual selling price for newspaper advertising.
The term, "realization," in revenue recognition refers to which of
the following? - ANSWER-The product or service has been
ACCT 5312 FINAL EXAM LATEST 2026-2027 ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (100%
VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED|| ||BRANDNEW!!!||
The gross profit ratio is useful to the manage for each of the
following purposes except that: - ANSWER-it can be used to
estimate the amount of operating expenses for a period.
Which of the following accounts/captions are not ever included in
the calculation for Gross profit? - ANSWER-General and Selling
Expenses.
When the periodic inventory system is used: - ANSWER-cost of
goods sold can be calculated by subtracting the ending inventory
amount from the sum of beginning inventory and net purchases.
income from operations is: - ANSWER-sometimes used in the
ROI calculation.
,2|Page
The earnings per share of common stock calculation: - ANSWER-
is complicated by the presence of preferred stock in the capital
structure.
An item that cost $90 is sold for $120. The gross profit ratio for
this item is: - ANSWER-25%
An item that cost $240 is to be sold for a price that will yield a
gross profit ratio of 20%. The selling price should be: - ANSWER-
$300
Recognition of revenue in accrual accounting requires: -
ANSWER-that the revenue be realized or realizable, and earned.
the major difference between the indirect and the direct method of
a statement of cash flows appears in which the following activities
sections(s)? - ANSWER-The operating activities section only.
, 3|Page
Which of the following is an accurate statement regarding a
statement of cash flows? - ANSWER-All material operating,
investing, and financing activities are included.
In the statement of cash flows, depreciation and amortization
expense is added back to net income because: - ANSWER-these
expenses do not affect cash, but were subtracted in the
determination of net income.
In the statement of cash flows, an increase in the accounts
receivable balance from the beginning of the period to the end of
the period would: - ANSWER-be subtracted from net income
because this means that revenues were more than cash
collected.
Revenue may be recognized: - ANSWER-if a company trades
inventory at its usual selling price for newspaper advertising.
The term, "realization," in revenue recognition refers to which of
the following? - ANSWER-The product or service has been
