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Accounting Expert Answers & Study Resources : Page 124

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21.1   Apply the concept of the time value of money to capital budgeting decisions. 1) In capital budgeting decisions, revenues and costs are analyzed over the short-run. 2) Accrual accounting measures income on a year-to-year basis. 3) Cost systems with an exclusive period-by-period focus are more likely to identify project costs over multiple.

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  • 21.1   Apply the concept of the time value of money
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21.4   Assess the complexities in capital budgeting within an interdependent set of value-chain business functions. 1) Companies should make decisions concerning investing in computer-integrated technology, based solely on the relevant costs. 2) "Faster response to market changes" is a benefit of computer-integrated technology. 3) The accrual accounting rate of return for evaluating performance.

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  • 21.4   Assess the complexities in capital budgeting within an interdependent
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16) Complete Microfilm Products manufactures microfilm cameras. For October there were no beginning inventories of direct materials, and no beginning or ending work in process. Only one indirect manufacturing cost category is currently in use, "Conversion Costs." Conversion costs - October $90,400 Direct materials purchased - October $250,400 Units produced - October 80,000 units Units sold -.

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  • 16) Complete Microfilm Products manufactures microfilm cameras. For October there
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31) What is the balance in the Class 8 pool after the addition of the new equipment? A) $350,000 B) $410,000 C) $450,000 D) $430,000 E) $460,000 32) What is the CCA claim in year 1? A) $3,500 B) $7,000 C) $8,000 D) $16,000 E) $18,400 33) What are the tax savings in year 2 from the investment? A) $3,500 B) $7,000 C) $8,000 D) $5,040 E).

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  • 31) What the balance in the Class 8 pool after
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21) Canada, like most taxing authorities, uses different methods for calculating depreciation for tax purposes. The Income Tax Act uses which of the following methods? A) accelerated amortization B) straight-line and accelerated amortization C) straight-line, double declining balance, and accelerated amortization D) straight-line and declining balance E) double declining balance and accelerated amortization only 22) Wilf.

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  • 21) Canada, like most taxing authorities, uses different methods for
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20.4   Differentiate a materials requirements planning (MRP) strategy from an enterprise resource planning (ERP) strategy of supply-chain management. 1) The term, supply-chain, describes the flow of goods, services and information from cradle to grave, regardless of whether those activities occur in the same organization or in other organizations. 2) An Enterprise Resource.

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  • 20.4   Differentiate a materials requirements planning (MRP) strategy from an
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23.1   Integrate the accounting internal control system assurance framework with existing legislation. 1) A management control system is a means of gathering and using information to aid and coordinate the process of making planning and control decisions throughout the organization, and to guide employee behaviour. 2) Subunit managers are better informed about.

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  • 23.1   Integrate the accounting internal control system assurance framework with
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23.3   Assess the market-based transfer price method. 1) When the intermediate market is perfectly competitive, interdependencies of subunits are minimal, and there are additional costs to the corporation as a whole in using the market instead of transacting internally. 2) When demand outstrips supply, market prices may drop below historical averages. These.

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  • 23.3   Assess the market-based transfer price method. 1) When the intermediate
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41) Lion Enterprises Inc. is evaluating 3 investment alternatives. Each alternative requires a cash outflow of $102,000. The cash inflows are summarized below (ignore taxes): Project A Project B Project C Year 1 $55,000 $30,000 $0 Year 2 $40,000 $30,000 $0 Year 3 $20,000 $30,000 $45,000 Year 4 $5,000 $30,000 $55,000 Year 5 $2,000 $30,000 $65,000 The company has a required rate of return of 9%. Required: 42) Briefly describe the processes in the Capital Budgeting.

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  • 41) Lion Enterprises Inc. evaluating 3 investment alternatives. Each alternative
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30) What is the purpose of the internal control system within an organization? 31) Discuss some of the recent legislation and frameworks relating to assurance and internal controls. 23.2   Apply transfer-pricing processes. 1) Products transferred between subunits within an organization are considered intermediate products. 2) Department A charges Department B $1,350 for copying services.

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  • 30) What the purpose of the internal control system within
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21) Which of the following is NOT a responsibility centre within an organization, whether centralized or decentralized? A) cost centre B) profit centre C) revenue centre D) savings centre E) investment centre 22) All of the following are benefits of decentralization EXCEPT A) it creates greater responsiveness to local needs. B) it decreases management and worker morale. C) it.

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  • 21) Which of the following NOT a responsibility centre within
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29) Falcon Industries manufactures customized industrial compounds. All processing is initiated when an order is received. For April there were no beginning inventories. Conversion Costs and Direct Materials are the only manufacturing cost accounts. Direct Materials are purchased under a just-in-time system. Backflush costing is used with a finished goods.

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  • 29) Falcon Industries manufactures customized industrial compounds. All processing initiated
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26) Cyclone Electronics manufactures automobile radios. All processing is initiated when an order is received. For March there were no beginning inventories. Conversion Costs and Direct Materials are the only manufacturing cost accounts. Direct Materials are purchased under a just-in-time system. Backflush costing is used with a finished goods trigger.

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  • 26) Cyclone Electronics manufactures automobile radios. All processing initiated when
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