Production of a 1040 tax form from the AIS to be delivered to the Internal Revenue Service is an example of discretionary information.

In Unified Modeling Language (UML) the options for maximum multiplicity values are 1 and *.

Which of the following items can best be described as an “Event” in the REA data model?

Only those in positions of accounting and finance need to understand how costs are assigned in an organization.

When comparing the contribution format income statement to the traditional format income statement, the amount calculated as net income will be different under the two methods.

A company had the following information about its manufacturing overhead costs during the year. Determine the adjustment that is needed to Cost of Goods Sold at year end. Estimated overhead costs, beginning of the year $520,000 Actual overhead incurred $500,000 Applied overhead based on predetermined overhead rate $510,000

The dollar amount that provides for covering fixed costs and then provides for operating income is called ______.

Morrow Company applies overhead based on direct labor hours. Using the relevant information below, what is Morrow’s predetmined overhead rate? Estimated manufacturing overhead $620,000 Estimated direct labor hours 40,000 hours Estimated machine hours 180,000 hours Actual manufacturing overhead $650,000 Actual direct labor hours 50,000 hours Actual machine hours 200,000 hours

That is it for this exam! As always, this last question is just a place for me to put your extra credit from the review as well as remind you that you need to submit your work within 20 minutes of finishing. If you have any problems submitting it, make sure to email it to me within that same time limit. Feel free to go back and look over anything, but once you are done type your name below and hit submit!

State whether the following argument is Valid and/or Sound. You MUST draw a Venn diagram to show your work. I will grade this one off of your work, so feel free to just type done below when finished.Premise: All liquids are safe to consume.Premise: Lava is a liquid.Conclusion: Lava is safe to consume.