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managerial accounting

Hi, I have a test at my managerial accounting and I have the following questions ;

12- ;________ summarizes the results of the basic operating activities of a company.

A.Operating income ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ;B.Net profit C.Gross margin ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ;D.Gross profit

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13-“It is better to recognize goodwill than to write up assets to their ;fair-market values.” Do you ;agree? Why?

A. ;Yes. It is always better to recognize goodwill than to write up assets to their ;fair-market values because recording goodwill rather than increasing the values of individual assets will increase future depreciation. B. ;No. Rules require that assets in a consolidated statement reflect the ;fair-market value at the time of the acquisition. Companies may favor recording differences between book values and the price paid for an acquisition as goodwill but this is only acceptable if the parent company owns less than ;50% of the subsidiary. C. ;No. Rules require that assets in a consolidated statement be recorded at the lower of book or market value at the time of the acquisition. This is only if the parent company owns less than ;20% of the subsidiary. D. ;No. Rules require that assets in a consolidated statement reflect the ;fair-market value at the time of the acquisition. Companies may favor recording differences between book values and the price paid for an acquisition as goodwill because recording goodwill rather than increasing the values of individual assets avoids the added depreciation charges incurred on the individual assets.14- ;The section of the annual report that explains major changes in the income ;statement, changes in liquidity and capital resources and the impact of inflation is called the ;________.

A. ;appendix to the financial statements B. ;internal control report C. ;management’s discussion and analysis D. ;notes to the financial statements15- In an efficient capital ;market, the appropriate investment strategy is risk ;control, ________ and ;________.A. ;low ;diversification; high turnover of securities B. ;high ;diversification; low turnover of securities C. ;low ;diversification; low turnover of securities D. ;high ;diversification; high turnover of securities

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