Please, can I get some help. Thank you.
1. All organizations must have:
A) a tax accountant.
B) None of the above.
C) vice president of marketing.
D) an internal auditor.
E) a treasurer.
2. What of the following is a period cost?
A) Indirect materials used in production.
B) Raw materials purchased from a supplier.
C) None of the above.
D) Supplies used by accounting personnel.
E) Maintenance costs for manufacturing equipment.
3.T or F: For a custom home builder, lumber should be categorized as direct materials.
4. All of the following are things you can do when faced
with any ethical dilemma as a managerial accountant except:
A) discuss the issue with your immediate supervisor except when you
think the supervisor may be involved.
B) None of the above.
C) contact your attorney about your legal obligations and rights.
D) contact the IMA’s anonymous hotline for guidance.
E) always contact the board of directors first.
5. T or F: Enterprise Resource Planning (ERP) systems are only used by large publicly held organizations.
6. Sampson Company had a Cost of Goods Sold of $730,000 and Cost of Goods Manufactured of $940,000 for the year ended December 31, 2019. If the January 1, 2019 balance in the Finished Goods Inventory account was $180,000, what was the December 31, 2019, balance in Finished Goods Inventory?
A) $1,120,000
B) $520,000
C) $1,850,000
D) $390,000
E) None of the above.