WILEY PLUS FINAL MC

Which of the following methods will result in the highest depreciation in the first year? Time valuation Straight-line Declining-balance Sum-of-year's-digits

The depreciation method that applies a constant percentage to depreciable cost in calculating depreciation is:

A change in the estimated useful life of equipment requires:

An expenditure for which of the following items would be considered a revenue expenditure? Ordinary repair Addition Plant asset Improvements

A gain or loss on disposal of a plant asset is determined by comparing the: Book value of the asset with the asset's original cost Original cost of the asset with the proceeds received from its sale Replacement cost of the asset with the asset's original cost Book value of the asset with the proceeds received from its sales

The book value of a plant asset is the difference between the:

Goodwill can be recorded

Cost allocation of an intangible asset is referred to as

Which of the following would NOT be included in the Equipment account? Electricity used by the machine Installation costs Freight costs Cost of trial runs

Sales taxes collected by a retailer are reported as

Secured bonds are bonds that:

Bonds that may be exchanged for common stock at the option of the bondholders are called:

Bonds that are subject to retirement at a stated dollar amount prior to maturity at the option of the issuer are called:

The contractual interest rate on a bond is often referred to as the:

If the market interest rate for a bond is higher than the stated interest rate, the bond will sell at:

If the market rate of interest is 10%, a $10000, 12%, 10-year bond that pays interest annually would sell at an amount:

If the market rate of interest is lower than the contractual interest rate, the bonds will sell at

If bonds have been issued at a discount, then over the life of the bonds the: interest expense will increase, if the discount is being amortized on a straight-line basis. unamortized discount will increase. carrying value of the bonds will decrease. carrying value of the bonds will increase.

Treasury stock is:

Treasury stock should be reported in the financial statements of a corporation as a(n): deduction from total paid-in capital deduction from total paid-in capital and retained earnings investment liability

Treasury shares plus outstanding shares equal

Which of the following is not a right or preference associated with preferred stock? The right to vote. First claim to dividends. To receive dividends in arrears before common stockholders receive dividends. Preference to corporate assets in case of liquidation.

Dividends in arrears on cumulative preferred stock

The board of directors of Bosco Company declared a cash dividend on November 15, 2017, to be paid on December 15, 2017, to stockholders owning the stock on November 30, 2017. Given these facts, the date of November 30, 2017, is referred to as the:

A stock split will: