| Question 1 of 20 : Select the best answer for the question. |
| 1. What’s the weighted mean frequency for the following car sales?
2 sold at $25,090, 3 sold at $20,000, 1 sold at $21,475, and 1 sold at $39,638 |
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| 2. Janet received the following grades in an accounting class at McClenan Community College: 65, 80, 70, 100, 75, and 90. The instructor said he would drop the lowest grade. After the lowest grade is dropped, what’s Janet’s average? | ||||
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| 3. With beginning inventory at cost of $9,000, ending inventory at cost of $7,000, net sales of $51,000, and cost of goods sold of $46,000, the inventory turnover at cost to the nearest hundredth is | ||||
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| 4. A total sales amount of $400,000 that included a 6% sales tax yields actual sales of | ||||
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| 5. In terms of premium cost, the most expensive type of insurance is _______ insurance. | ||||
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| 6. Usually, assessed value is rounded to the nearest | |||||||||||||
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| 7. The weighted-average method is best used for | ||||
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| 8. Belle Co. has beginning inventory of 12 sets of paints at a cost of $1.50 each. During the year, the store purchased 7 at $3.00, 8 at $3.25, and 12 at $3.50. By the end of the year, 31 sets were sold. Using the LIFO method, the cost of ending inventory is | ||||
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| 9. Pedro opened a grilled cheese food cart. He insures his food cart for $90,000.00 for fire. What’s his premium if the rate per $100.00 is $0.83? | ||||
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| 10. Mia’s office building with a $300,000 value has a rating of 2 with a building classification of A. The contents in the building are valued at $120,000. Using the tables found in the textbook, the total annual premium for fire insurance is | ||||
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| 11. Suppose Department X is 8,000 square feet, Department Y is 5,000 square feet, and Department Z is 6,000 square feet. What’s the percent of overhead expense applied to Department Z? (Round your answer to the nearest whole percent.) | ||||
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| 12. A bond that closed today at 94 down 2 closed yesterday in dollars at | ||||
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| 13. During inflation, the best method to use in inventory valuation that produces the smallest amount of profit is | ||||
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| 14. Stocks are always quoted in | ||||
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| 15. Which one of the following items is subject to sales tax in the District of Columbia? | ||||
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| 16. T.J. bought fire insurance for his pizza shop for $200,000 at an annual rate per $100 of $.49. At the end of 10 months, T.J. canceled the policy since his pizza shop went out of business. Using the tables found in the textbook, determine the refund to T.J. | ||||
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| 17. The tax rate of $.0984 in decimal form can be expressed as how many mills? | ||||
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| 18. Personal property items do not include | ||||
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| 19. Find the mean for the following numbers and do not round your answer to the nearest whole number:
38, 18.05, 25, 26, 46 |
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| 20. The one named in the policy to receive the insurance proceeds in case of the death of the one taking out the policy is the | ||||
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