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Which of the following qualitative characteristics Is Important for Information to be useful?: * ...

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Accounting

Which of the following qualitative characteristics Is Important for Information to be useful?: *
a. Reliability
b. Consistency
c. Relevance
d. Comparability
e. All of the above
Responsibility reports for cost centers contaln which of the following?: *
a. Only fixed costs
b. Only variable costs
c. Only controllable costs
d. Only noncontrollable costs
e. Contribution margin
Which of the following accounts would be classifled as a current asset on the balance sheet?: *
a. Property, plant and equipment
b. Vehicles
c. Patents
d. Accounts payable
e. Accounts receivable
John and Kelly Invest $100,000 and $50,000 In a partnership and agree to divide net Income with an Interest allowance of 5% on the original Investment, salary allowances of $10,000 and $15,000 and with the remainder divided equally (all in a given year). If partnership net Income is $35,000, what Is Kelly's share of net Income?: *
a. $15,000
b. $17,500
c. $18,750
d. $20,000
e. $35,000
Prepald Insurance Is classifled as what type of account?: *
a. Liability
b. Revenue
c. Asset
d. Expense
e. Contra asset
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