Popular courses 'ACCT 2401' at ACCT 2401
ACCT 2401 Study guides, Class notes & Summaries
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ACCT 2401 ALL ONLINE TEST ACCOUTING QUESTIONS AND ANSWERS AVAILABLE 2022-2023
- Exam (elaborations) • 58 pages • 2023
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ACCT 2401 
ALL ONLINE TEST ACCOUTING 
QUESTIONS AND ANSWERS AVAILABLE 
2022-2023 
 
• 
If total sales is $90000, office expenses is $30000 and rent expense is $15000, profit or loss is which of the following? 
Selected	 
Answer:	$45000 profit 
Answers:	 
$45000 profit 
$45000 loss 
$75000 loss 
$75000 profit 
Feedback: Profit equals $45000 = ($90000 – $30000 – $15000). Learning Objective 2.3 ~ outline the basic financial statements used in business to report to users for decision-making ...
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ACCT 2401 QUESTIONS AND ANSWERS AVAILABLE Test #1 Chapters 1 & 2 Test Prep (Solutions are at the end)
- Exam (elaborations) • 21 pages • 2023
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ACCT 2401 
QUESTIONS AND ANSWERS AVAILABLE 
Test #1 Chapters 1 & 2 Test Prep (Solutions are at the end) 
1.	Which of the following is a period cost: 
a.	raw materials costs. 
b.	manufacturing plant maintenance. 
c.	wages for production line workers. 
d.	salary for the vice president of finance. 
 
2.	The inventory accounts of a manufacturing firm include: 
a.	raw materials. 
b.	finished goods. 
c.	work in process 
d.	all of the above. 
 
3.	The beginning balance of Finished Goods is $50,000, the...
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ACCT 2401 TEST PREP EXAMS SOLUTIONS AVAILABLE 2022-2023
- Exam (elaborations) • 21 pages • 2023
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ACCT 2401 
TEST PREP EXAMS 
SOLUTIONS AVAILABLE 
2022-2023 
 
For Questions 1-3 use the following data: 
Pringle Company sells a single product. The company’s sales and expenses are as follows: 
Sales	$600,000	$40 
Less variable expenses	 420,000	 28 
Contribution margin	180,000	12 
Less fixed expenses	 150,000	 
Net Income	$ 30,000	 
 
1.	What is the break-even in units sold and in dollars? 
 
2.	Without computations, what is the total contribution margin at breakeven? 
 
3.	How many unit...
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Accounting 2401 Final Exam Study Guide Fall 2022-2023
- Exam (elaborations) • 16 pages • 2023
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Accounting 2401 
Final Exam Study Guide 
Fall 2022-2023 
 
Multiple Choice (2.5 points each) 
1.	During 2014, Parker Enterprises generated revenues of $90,000. The company’s expenses were as follows: cost of goods sold of $45,000, operating expenses of $18,000 and a loss on the sale of equipment of $3,000. 
 
Parker’s gross profit is 
a. $24,000. 
b. $27,000. 
c. $45,000. 
d. $90,000. 
 
2.	During 2014, Parker Enterprises generated revenues of $90,000. The company’s expenses were as fol...
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ACCT 2401 Final Exam Study Guide Fall 2018
- Exam (elaborations) • 8 pages • 2023
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ACCT 2401 
Final Exam Study Guide Fall 2018 
1.	If given a scenario, be able to distinguish between derailers and arrivers? 
Derailer- being insensitive to others, abrasive, intimidating, bullying style, being cold, ignorant Arrivers- opposite 
2.	What has research determined about arrivers? Arrivers are sensitive to the feelings of others 
3.	What is the key to success when using behavioral substitution and behavioral addition techniques to change organizational culture? 
Behavioral addition, b...
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