491. What role does the concept of franchise agreements accounts play in accounting for intangible assets associated with franchised businesses?
A. Detailing Changes in Equity
B. Franchise agreements accounts represent intangible assets tied to franchised businesses, and their inclusion in financial statements is crucial for accurate asset valuation.
C. Ignoring Changes in Cash Position
D. Focusing Only on Short-Term Assets
492. How does the treatment of broadcast rights accounts impact a company’s financial statements and recognition of intangible assets related to media content?
A. Assessing Employee Performance
B. Broadcast rights accounts represent intangible assets tied to media content, and their proper treatment influences a company’s financial statements and asset recognition.
C. Ignoring Changes in Equity
D. Setting Advertising Budgets
493. Total unit costs are?
(A) Independent of the cost system, used to generate them
(B) Needed for determining product contribution
C) Irrelevant in marginal analysis
(D) Relevant for cost-volume-profit analysis
494. The total cost incurred in the operation of a business undertaking other than the cost of manufacturing and production is known as?
(A) Direct cost
(B) Variable cost
C) Commercial cost
(D) Conversion cost
495. Costs that change in response to alternative courses of action are called:
A) Differential costs
(B) Relevant costs
(C) Sunk costs
(D) Target costs
496. Modern system of bookkeeping is called______________?
A: Double entry system
B: American system
C: Single entry system
D: Italic system
497. Journal entry for payment of wage (in control accounts) is:
A. Dr. Wages control account Cr Cash
B. Dr. Wages Cr Cash
C. Dr. Wages control account
D. No entry is required
498. Payment to creditors for supplies made journal entry (in control accounts) will be:
A. Dr. Sundry creditors Cr. Cash
B. Dr. Sundry creditors Cr. cost ledger control account
C. Dr. Sundry creditors Cr. Costing profit and loss account
D. No entry is required
499. What entry will be passed under an integrated system for the purchase of stores on credit?
A. Dr. Purchases A/C Cr. Creditors A/C
B. Dr. Stores ledger control account A/C Cr. Creditors A/C
C. Dr. Stores ledger Control A/C Cr. General ledger adjustment A/C
D. None of the above
500. What accounting entry under the integrated system will be passed for payment to creditors for supplies made?
A. Dr. Creditors A/C Cr. Cash A/C
B. Dr. Store ledger A/C Cr. Creditors A/C
C. Both A and B
D. None of them
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