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BUS/475 Sample Final Exam

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BUS/475 Sample Final Exam 1. Which of the following is NOT an element of manufacturing overhead? a. Factory employee’s salary b. Depreciation on the factory c. Plant manager’s salary d. Fac ... tory repairperson’s wages 2. What accounts are NOT classified in the current assets section of the balance sheet? a. Cash b. Accounts payable c. Security deposits d. Inventory 3. The starting point of a master budget is the preparation of the a. cash budget. b. sales budget. c. production budget. d. budgeted balance sheet. 4. What amounts are not included in Gross Margin? a. Operating expenses This Sample Final Exam is provided as a resource to help familiarize students with the content areas and types of questions that they may encounter when they complete the comprehensive BUS/475 Final Exam in Week Five. The student version of the sample Final does not include the correct answers (as marked below in red). Please feel free to share the sample final questions and answers with your students. Accounting Financial accounting Conceptual foundations Income statement and statement of retained earnings Balance sheet Statement of cash flows Managerial accounting Cost concepts Product costing systems Activities-based costing Cost, volume, and profit analysis Budgeting (except capital budgeting covered under finance) Standard costing Nonroutine decision making International accounting* Accounting Section b. Sales c. Cost of goods sold d. Commissions paid [Show More]

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