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Multiple Choice

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Stephanie must decide between two alternatives for the weekend: babysitting or yard work. If she baby sits, she will receive $40 and will incur $15 in food and snack costs. If she does yard work, she will receive $40 and will incur $3 in lawn mower gas and oil costs and $5 in snack costs. The amount to be received is relevant for deciding which alternative to select.
True
False

The following information is provided by the Atlantic Company:

Actual direct material cost $24,000
Standard direct material cost $20,000
Direct material quantity variance $1,000 unfavorable

What is the direct material price variance?
a. $4,000 favorable.
b. $5,000 favorable.
c. $3,000 unfavorable.
d. Not enough information is provided.

A vertical analysis uses percentages to compare each of the parts of an individual statement to the whole. For example, on an income statement each item would be shown as a percentage of sales.
True
False

Denise was questioned recently about her department's spending in excess of the budget. This is an example of using the budget for coordination.
True
False

Volume based cost drivers (e.g., labor hours or machine hours) are most likely to serve as an effective allocation base for which of the following costs?
a. Setup costs.
b. The cost of the filing patent papers for a new product.
c. Research and development costs.
d. Maintenance costs.

Coffee Cafe operates a chain of coffee shops. The company pays rent of $24,000 per year for each shop. Supplies (napkins, bags and condiments) are purchased as needed. The managers of each shop are paid a salary of $3,000 per month and all other employees are paid on an hourly basis. Relative to the number of customers, the cost of rent is which kind of cost?
a. Fixed cost.
b. Variable cost.
c. Mixed cost.
d. Relevant cost.

Spring Company sets the selling price for its product by adding a markup to the product's variable manufacturing costs. This approach to pricing is referred to as:
a. Target pricing.
b. Cost-plus pricing.
c. Target costing.
d. Contribution margin pricing.

A budget prepared at a single volume of activity is referred to as a:
a. Strategic budget.
b. Static budget.
c. Standard budget.
d. Flexible budget

The area of business planning that is associated with financial matters is commonly called:
a. Master planning.
b. Strategic planning.
c. Budgeting.
d. Operational planning.

Performance evaluation should be based on the actual volume of activity rather than the planned volume of activity.
True
False

Baltazar Company reported revenue of $1,000 on its income statement. During the same period its accounts receivable balance decreased by $400. How much cash was collected during the period?
a. $600.
b. $1,000.
c. $1,400.
d. None of the above.

Costs that are not related to any specific product, batch, or unit of production are referred to as facility-level costs.
True
False

Alan's Lawn Care incurs significant gasoline costs. This cost would be classified as a variable cost if the total cost:
a. Varies inversely with the number of hours the lawn equipment is operated.
b. Varies directly with the number of hours the lawn equipment is operated.
c. Is not affected by the number of hours the lawn equipment is operated.
d. Both A and B.

The managerial accounting system includes economic and non-financial data as well as financial statement data.
True
False

A process cost system would be appropriate for all of the following except:
a. Gasoline.
b. VCR machines.
c. G.E. light bulbs.
d. A law firm.

A cash flow that only occurs once is referred to as:
a. An annuity.
b. A lump sum.
c. A principal sum.
d. None of the above.

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https://brainmass.com/business/annuity/multiple-choice-161386

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Stephanie must decide between two alternatives for the weekend: babysitting or yard work. If she baby sits, she will receive $40 and will incur $15 in food and snack costs. If she does yard work, she will receive $40 and will incur $3 in lawn mower gas and oil costs and $5 in snack costs. The amount to be received is relevant for deciding which alternative to select.
True
False

The amount received is not relevant in deciding which alternative to select since the amount is the same in both the alternatives.

The following information is provided by the Atlantic Company:

Actual direct material cost $24,000
Standard direct material cost $20,000
Direct material quantity variance $1,000 unfavorable

What is the direct material price variance?
a. $4,000 favorable.
b. $5,000 favorable.
c. $3,000 unfavorable.
d. Not enough information is provided.

Total material variance = 24,000-20,000=4,000 unfavorable
Since quantity variance is $1,000 unfavorable, then price variance will be $3,000 unfavorable

A vertical analysis uses percentages to compare each of the parts of an individual ...

Solution Summary

The solution explains various multiple choice questions in managerial accounting.

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Amino acids multiple choice questions

Which statement is incorrect about the classification of amino acids?
a. Alanine and valine are neutral, nonpolar amino acids.
b. Lysine and arginine are basic amino acids.
c. Tryptophan and phenylalanine are aromatic amino acids.
d. Aspartic acid and aspargine are acidic amino acids.

Which of the following amino acids is the least water soluble at pH 7.0?
a. Tryptophan
b. Glutamic acid
c. Cysteine
d. Histidine

Which amino acid would migrate the furthest toward the anode (positive electrode) during paper electrophoresis at pH 7.0?
a. Aspartic acid
b. Alanine
c. Lysin
d. Glutamine

Which of the following functional groups, attached to an inert matrix, could function as a cation exchanger?
a. Diethylaminoethyl-
b. p-aminobenzyl-
c. Carboxymethyl-
d. Trimethylammonium-

Which of the following amino acids would make the best buffer at pH 4.5?
a. Histidine
b. Alanine
c. Glutamine
d. Aspartic acid

Which fact is incorrect about stereoisomers?
a. A diastereomer is a nonsuperimposable non-mirror image.
b. An enantiomer is a nonsuperimposible mirror image.
c. Diastereomers have different melting points.
d. Diastereomers rotate plane polarized light in equal but opposite direction.

Which statement is incorrect about L-isoleucine?
a. Its enantiomer is named O-isoleucine.
b. It contains a total of two asymmetric or chiral carbons.
c. It can also be named as (28, 38)-isoleucine using the (R,8) system.
d. Its diastereomer would be named O-alloisoleucine.

An isoelectric amino acid was dissolved in water and the resulting pH was approximately 7.6. What amino acid would possess this property?
a. Alanine
b. Glutamic acid
c. Histidine
d. Lysine

What volume of NaOH is required to adjust the solution of monosodium aspartate to pH 9.8?
a. 1 ml
b. 2 ml
c. 3 ml
d. 6 ml or more

What volume of 2 N Hel is required to completely titrate the 4 mmol of monosodium aspartate?
a. 2 ml
b. 3ml
c. Aml
d. 6 ml or more

Which statement is correct about the peptide ala-ser?
a. Alanine is at the N-terminal of the peptide.
b. There are a total six atoms that lie in the plane of the peptide bond linking alanine to serine.
c. The alpha-carbon of alanine is sp3 hybridized d All the above are correct statements.

What is the product formed from the acid hydrolysis of a simple amide?
a. Acid & base
b. Aldehyde & alcohol
c. Acid & amine
d. Ester & alcohol

The complete acid hydrolysis of the peptide ala-gln-trp-ser would yield:
a. Ala, gin, trp, ser
b. Ala, glu, ser
c. Ala, glu, trp, ser
d. Ala. ser

Fibrous proteins, such as collagen, have which of the following properties?
a. Highly soluble in water
b. Their hydrophilic residues are directed into the interior of the protein
c. Exhibit enzymatic activity
d. Serve structural roles in the cell

Quaternary structure is associated with:
a. The overall shape of a polypeptide chain
b. The sum of the secondary and tertiary interactions
c. Simple proteins with only one subunit
d. The relative orientation of one polypeptide to another polypeptide in a multi-subunit protein.

The information needed to define the structure of a protein is essentially contained in:
a. Amino acid composition
b. Amino acid sequence
c. Secondary structure
d. Tertiary structure.

Insulin is a polypeptide hormone that contains two short polypeptide chains linked by two interstrand disulfide bonds. The most logical order of events to perform in order to sequence this protein would be:
A: The peptides are reduced with mercaptoethanol.
B: The peptides are sequenced using Edman chemistry .
C: The peptides are separated by chromatography techniques. 0: The peptides are alkylated with iodoacetamide.
a. A, D,C, B b.C,A, 0, B
c. C, B, A, 0
d. A, B, C, 0

Which statement is incorrect about the peptide val-asp-trp-asn-ser?
a. This peptide would show a strong absorption band at 280 nm.
b. Reaction with chymotrypsin would yield two peptides.
c. To synthesize this peptide using the solid phase method of Merrifield, the amino acid directly attached to the resin would be serine.
d. After the second round of Edman chemistry using the reagent PITC, the PTH -amino acid residue released would be PTH-asn.

Which statement is incorrect about the reaction of the peptide ser-Iys-asp-trp-cys-metasn-phe-ala with the following reagents?
a. Reaction with cyanogens bromide would yield two peptides.
b. Reaction with trypsin would result in three peptides. The smallest of three peptides would have the highest pi of the three.
c. Reaciton with chymotrypsin would result in the peptides ser-Iys-asp & try-cys-met-Iysasn-phe-ala .
d. Reaction with chymotrypsin would yield a different set of peptides that overlap those obtained with tryspsin

Determine the amino acid sequence of the following oligopeptide from the experimental data below:
The amino acid composition is found the be ala, Iys, phe, met, cys plus some
decompsition products.
2. The peptide has a molecular weight around 700 Da and absorbs at 280 nm.
3. Treatment with carboxypeptidase results in tryptophan and a peptide.
4. CNBr treatment yields a tetrapeptide and a dipeptide.
5. Trypsine digestion produces an amino acid and a pentapeptide with met on the amino end.
6. Chymotrypsin digestion yields a dipeptide and a tetrapeptide.
a. trp-Iys-met-cys-met-ala
b. Iys-met-cys-phe-ala-trp
c. trp-ala-phe-cys-met-Iys
d. Iys-ala-cys-phe-met -trp

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