BEC 172015

Home > Preview

The flashcards below were created by user Joens1313 on FreezingBlue Flashcards.


  1. The ---------------------------------- is the difference between the budgeted cost of materials used  and the budgeted cost of materials that should have been used
    The material efficiency (usage) variance is the difference between the budgeted cost of materials used  and the budgeted cost of materials that should have been used
  2. ---------------------------------------- is the difference between the standard quantity of direct materials budgeted and the actual quantity used
    Material usage (or quantity) variance is the difference between the standard quantity of direct materials budgeted and the actual quantity used
  3. ---------------------------- are manufacturing costs required to convert raw materials into a finished product
    Conversion costs are manufacturing costs required to convert raw materials into a finished product
  4. what are conversion costs?
    Conversion costs are manufacturing costs required to convert raw materials into a finished product
  5. -------------------------- are costs that can, economically, be traced directly to units of finished product
    Prime costs are costs that can, economically, be traced directly to units of finished product
  6. what are prime costs?
    Prime costs are costs that can, economically, be traced directly to units of finished product
  7. what are examples of prime costs?
    Direct labor 

    Direct materials
  8. The internal and external auditors are responsible for the following:

    The assessment of whether internal controls are correctly designed

    The assessment of whether internal controls are properly implemented

    The assessment of whether internal controls are effective

    -------------------------------------------
    The internal and external auditors are responsible for the following:

    The assessment of whether internal controls are correctly designed

    The assessment of whether internal controls are properly implemented

    The assessment of whether internal controls are effective

    Making recommendations for improvements in the internal control procedures
  9. The internal and external auditors are responsible for the following:

    The assessment of whether internal controls are correctly designed

    The assessment of whether internal controls are properly implemented

    --------------------------------------

    Making recommendations for improvements in the internal control procedures
    The internal and external auditors are responsible for the following:

    The assessment of whether internal controls are correctly designed

    The assessment of whether internal controls are properly implemented

    The assessment of whether internal controls are effective

    Making recommendations for improvements in the internal control procedures
  10. The internal and external auditors are responsible for the following:

    The assessment of whether internal controls are correctly designed

    ---------------------------------------

    The assessment of whether internal controls are effective

    Making recommendations for improvements in the internal control procedures
    The internal and external auditors are responsible for the following:

    The assessment of whether internal controls are correctly designed

    The assessment of whether internal controls are properly implemented

    The assessment of whether internal controls are effective

    Making recommendations for improvements in the internal control procedures
  11. The internal and external auditors are responsible for the following:

    ----------------------------------

    The assessment of whether internal controls are properly implemented

    The assessment of whether internal controls are effective

    Making recommendations for improvements in the internal control procedures
    The internal and external auditors are responsible for the following:

    The assessment of whether internal controls are correctly designed

    The assessment of whether internal controls are properly implemented

    The assessment of whether internal controls are effective

    Making recommendations for improvements in the internal control procedures
  12. The internal and external auditors are responsible for the following:

    ----------------------

    ------------------------

    ----------------------------

    ------------------------------
    The internal and external auditors are responsible for the following:

    The assessment of whether internal controls are correctly designed

    The assessment of whether internal controls are properly implemented

    The assessment of whether internal controls are effective

    Making recommendations for improvements in the internal control procedures
  13. What would be the primary reason for a company to agree to a debt covenant limiting the percentage of its long-term debt?
    To reduce the interest rate on the bonds being sold
  14. The ----------------------usually shows increases in work performance as an employee integrates learning experiences (classes, on-the-job training, etc.) into work practices.
    The learning curve usually shows increases in work performance as an employee integrates learning experiences (classes, on-the-job training, etc.) into work practices.
  15. ---------------------------- indicates the “cushion” related to a firm's ability to pay interest on debt
    Times interest earned indicates the “cushion” related to a firm's ability to pay interest on debt
  16. what does times interest earned indicate?
    Times interest earned indicates the “cushion” related to a firm's ability to pay interest on debt

Card Set Information

Author:
Joens1313
ID:
313860
Filename:
BEC 172015
Updated:
2016-01-08 04:44:15
Tags:
BEC 172015
Folders:

Description:
BEC 172015
Show Answers:

Home > Flashcards > Print Preview