ACCT312DeVryMidtermExam

ACCT 312 DEVRY WEEK 4 MIDTERM EXAM LATEST

ACCT 312 DeVry Week 4 Midterm Exam Latest

1. Question : (TCO 1) Which creates a deferred tax liability?

An unrealized loss from recording inventory at lower cost than market.

Estimated warranty expense

Subscriptions collected in advance

Accelerated depreciation in the tax return

Question 2. Question : (TCO 1) Of the following temporary differences, which one ordinarily creates a deferred tax asset?

Intangible drilling costs

MACRS depreciation

Installment sales

Rent received in advance

Question 3. Question : (TCO ACCT312 2) Interest cost is calculated by multiplying the

ABO by the expected return on the plan assets.

ABO by ACCT 312 DeVry the discount rate.

PBO by the expected ACCT312DeVry return on plan assets.

PBO by the discount rate.

Question 4. Question : (TCO 2) Which of the following constitutes the accumulated benefit obligation?

Present value of vested benefits at present pay levels

Present value of nonvested benefits at present pay levels

Present value of additional benefits related to projected pay increases

Present value of both vested and nonvested benefits at present pay levels



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