Accounting- Kahoot Review

Which tax is NOT included in FICA?

Which of the following is withheld from an employees pay and also paid by the employer?

Which of the following is NOT withheld from the employees check?

What are discounts/ refunds are given to unhappy customers BY the seller?

This is a shipping document that describes agreement between business and common carrier?

This is when legal title transfers to customer when goods are received

What is crude oil purchased to produce gasoline?

This is a discount given to BUYER for paying amount due early

This is when the legal title transfers when goods leave the sellers place of business

Goods returned by buyer (how is it shown on the buyers books)

What are costs of materials used in products manufactured?

Research costs incurred to develop new types of products

A document sent by the purchasing department to order a specific quantity of goods or services?

Which of the following is NOT part of the expenditure process?

A) Receiving goods and services
B) Ordering goods and services
C) Paying suppliers
D) Using equipment to manufacture products

Which of the following is NOT part of the conversion process?

A) Storing finished manufactured goods until sold
B) Paying for the raw material used in production
C) Storing the raw material used in production
D) Machine set ups

What is the classification of cost of cables used in equipment manufactured?

What is the classification of salary of quality control inspector?

What is the classification of shipping cost paid to get raw materials?

When the iPhone was introduced its price was set by which of the following?

Which of the following business is considered part of the monopolistic competition?

A sales invoice originates with the

A document sent by the purchasing department to order a specific quantity of goods/services is called:

Which one is NOT one of the 4 primary influences of determining selling price?

Which would NOT be considered MOH in the conversion process?

If fixed costs increase, how will it affect contribution margin?

If fixed costs increase, how will it affect profit?

In general, which of the following is NOT true about the pricing of products?

Which of the following is considered an oligopoly?

Which of the following is NOT a product cost of a bicycle a company manufactures?

A) Labor cost to assemble the bicycle
B) Cost to ship the bicycle to retail store
C) Salary of bike assembly plant supervisor
D) Aluminum tubing for frame

Adjustments a company makes to machines to prepare for a new production run of products.

The Revenue Process involves receiving goods & services.

True
False
True False

Salary of a warehouse worker where raw materials are stored for a manuf. co. is a Facility Sustaining Cost.

True
False
True False