What are the common methods of computing depletion charge? Rational method and irrational method Discrete method and depletion allowance method Conservative method and conventional method Unit method and percentage method TRUE ANSWER : ? YOUR ANSWER : ?
Which is true about corporation? Its life is dependent on the lives of the incorporators. It is worse type of business organization. The stock holders of the corporation are only liable to the extent of their investments. The minimum number of incorporators to start a corporation is three. TRUE ANSWER : ? YOUR ANSWER : ?
The ability to convert assets to cash quickly is known as ______. Solvency Insolvency Liquidity Leverage TRUE ANSWER : ? YOUR ANSWER : ?
“When one of the factors of production is fixed in quantity or is difficult to increase, increasing the other factors of production will result in a less than proportionate increase in output”. This statement is known as the: Law of supply and demand Law of diminishing return Law of supply Law of demand TRUE ANSWER : ? YOUR ANSWER : ?
The unrecovered depreciation which results due to poor estimates as to the life of the equipment is called ______. Annuity In-place value Economic life Sunk cost TRUE ANSWER : ? YOUR ANSWER : ?
What is the factor name of the formula [i(1+i)^n]/[((1+i)^n)-1]? Uniform series sinking fund Capital recovery Single payment present worth Uniform gradient future worth TRUE ANSWER : ? YOUR ANSWER : ?
The original record of a business transaction is recorded in this book. Journal Account book Ledger Work book TRUE ANSWER : ? YOUR ANSWER : ?
A leading shoe manufacturer produces a pair of Lebron James signature shoes at a labor cost of P 900.00 a pair and a material cost of P 800.00 a pair. The fixed charges on the business are P 5,000,000 a month and the variable costs are P 400.00 a pair. Royalty to Lebron James is P 1,000 per pair of shoes sold. If the shoes sell at P 5,000 a pair, how many pairs must be produced each month for the manufacturer to break-even? 2890 2632 2.59 2712 TRUE ANSWER : ? YOUR ANSWER : ?
Capitalized cost of any structure or property is computed by which formula? First cost + cost of perpetual maintenance First cost + interest of first cost First cost + salvage value Annual cost – interest of first cost TRUE ANSWER : ? YOUR ANSWER : ?
The interest calculated on the basis of 365 days a year, is known as: Ordinary simple interest Exact simple interest None of these Interest TRUE ANSWER : ? YOUR ANSWER : ?