Related Questions

Data items in the fixed asset record of a newly purchased asset that a well-designed application program could obtain automatically include
A estimated disposal data
B source
C first cost
D All of the above
E None of the above
Nafiz inherited 30% of his father's asset . After paying a tax of 20% of his inheritance, what percent of hos father's asset does Nafiz own now?
A 24%
B 25%
C 26%
D 27%
In a recent year, Windsor's Boat's reported an asset turnover ratio of 2.46 times and a profit margin of 19.8% . In the same year, Sarah's Sail Boats reported an asset turnover ratio of 1.27 times and a profit margin of 9.9% . Which of the following statements is false ?
A Sarah's did a better job of turning over its assets
B Windsor's did a better job of generating profit from its sales
C Windsor's return on assets (ROA) is 48.7% while Sarah's return on assets is 12.6%
D None of the other answers is false
An asset must be ________ by the business to be shown as an asset in its balance sheet.
A Possessed
B Owned
C Controlled
D Used
The allocation of the cost of a tangible plant asset to expense in the periods, in which services are received from the asset, is termed as
A Appreciation
B Depreciation
C Fluctuation
D None of the above
The file key of the fixed assets file includes the
A fixed asset account number
B acquisition date
C asset identification number
D depreciation account number
E None of the above
Which of the following is/are fixed asset(s)?
A Closing inventory
B Fixed deposit in a bank
C Patents
D Prepaid expenses
Which of the following file organizations is most efficient for a file with a high degree of file activity?
A sequential
B ISAM
C VSAM
D B-Tree index
E All of the above
Which one of the following is not a valid reason for the disparity of international accounting procedures ?
A The problems of translation from one language to another
B The nature of the country's legal system
C The relationship between taxation requirements and financial reporting requirements
D The relative strength of the accounting profession
What is not an advantage of stored procedures?
A Greater security
B SQL can be optimized
C Code sharing
D Increased network traffic

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