On June 1, 2011 Quang Le Buys a Copier Machine

question 116

Multiple Choice

On June 1, 2011 Quang Le buys a copier machine for his business and finances this purchase with cash and a note.When journalizing this transaction, he will

• A)use two journal entries.
• B)make a compound entry.
• C)make a simple entry.
• D)list the credit entries first, which is proper form for this type of transaction.

Apply knowledge of costing methods to evaluate business segment performance.

Determine the financial effect of discontinuing operations or changes in sales territory on overall net operating income.

Understand the differences between absorption costing and variable costing, including their impact on operating income.

Develop the ability to construct and interpret segmented income statements in a contribution format.

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Definitions:

Prostaglandins

are lipid compounds that perform a variety of hormone-like actions in animals, including inflammation regulation and smooth muscle contraction.

Laparoscope

A surgical instrument used for viewing the internal parts of the abdomen without making large incisions.

Oviduct

The tube that carries ova from the ovary to the uterus, cloaca, or body exterior. Also called fallopian tube or uterine tube.

In Vitro Fertilization

The fertilization of eggs in the laboratory prior to implantation in the uterus for development.