Extra for Management

Question 1

115. The principle that requires every business to be accounted for separately and distinctly from it’s owner or owners is known as the

A. Objective
B. Business entitle     
C. Growing – concern
D. Revenue recognition 
E Cost

Answer 1

B

Question 2

113. Nik’s beginning equity 4,350 million, Net income 490 million dividends withdraw 100 million. Increase in equity due to the times 50 million. It’s ending equity is?

A. 3,810 million   
B. 4,690 million
C. 470 million
D. 4,990 million
E. 371 million

Answer 2

A

4350-540=3,810

490+50=54-

Question 3

108. Which of the following isn’t accounting assumption

A. Integrity
B. Going concern 
C. Time period
D. Economic entry
E. None

Answer 3

A

Question 4

30/ units of product $10/ unit.  The normal domestic price is 12/unit
		VC = $9.00
		FC = $1.00
		What is the gain or loss
	5,000 gain

Answer 4

5000 gain