Excel
Which function is used to calculate the average of a range of cells in Excel?
A) SUM()
B) COUNT()
C) AVERAGE()
D) MEDIAN()
C) AVERAGE()
In accrual accounting, when are revenues recognized?
A) When cash is received
B) When the sale occurs or services are rendered, regardless of cash flow
C) When the invoice is sent
D) When expenses are paid
B) When the sale occurs or services are rendered, regardless of cash flow
What is the document that lists the type and quantity of each type of direct material needed to complete a unit of product?
A. Bill of materials
B. Manufacturing recipe
C. Material needs form
A. Bill of materials
Which form does an international student use to file their Federal tax return in the U.S.?
A. 1040
B. 1040-NR
C. 1040-EZ
D. 1040-X
B (1040-NR is the correct form for international students filing their U.S. federal tax return).
Brigham Young University–Hawaii was established as the Church College of Hawaii in ___________.
A. 1954
B. 1955
C. 1956
D. 1957
B. 1955
How can you quickly insert a new row in an Excel worksheet?
A) Right-click on the row number and select "Insert"
B) Use the keyboard shortcut Ctrl + Shift + R
C) Go to the "Home" tab and click "Insert" in the "Cells" group
D) Drag the row boundary down
A) Right-click on the row number and select "Insert"
What is the journal entry to record receiving $5,000 in cash from a customer for services performed?
A) Debit Cash $5,000, Credit Service Revenue $5,000
B) Debit Service Revenue $5,000, Credit Cash $5,000
C) Debit Cash $5,000, Credit Accounts Receivable $5,000
D) Debit Service Revenue $5,000, Credit Accounts Payable $5,000
A) Debit Cash $5,000, Credit Service Revenue $5,000
Which one of the following is a fixed cost?
A. Retail Rental Space
B. Supplies Expense
C. Wages of workers
A. Retail Rental Space
Which of the following is NOT considered taxable income for a U.S. resident?
A. Wages from a job
B. Scholarships used for tuition
C. Interest from a savings account
D. Capital gains from selling stocks
B (Scholarships used for tuition are generally tax-free, while the others are taxable).
Who is the Dean of Faculty of Business & Government?
A. Jennifer Chen
B. Tialei Scanlan
C. Nathaniel Stephens
D. James Watkins
C. Nathaniel Stephens
What is the maximum number of degrees you can offset orientation when aligning the contents of a cell?
A. 180
B. 90
C. -90
D. 1
B. 90
Which account type is typically increased with a credit entry?
A) Asset
B) Expense
C) Liability
D) Revenue
C) Liability
Which of the following costs is an example of a direct cost?
A. Factory rent
B. Depreciation on equipment
C. Raw materials used in production
C. Raw materials used in production
What is the purpose of Form W-4?
A. To file your annual tax return
B. To report investment income
C. To determine the amount of federal income tax to withhold from your paycheck
D. To claim a tax refund
C (The W-4 is used to determine the amount of federal income tax your employer should withhold from your wages).
The BYUH lot used to be a ____________.
A. Plantation
B. Graveyard
C. School
D. Abandoned land
A. Plantation
Conditional formatting lets you apply cell formatting selectively and automatically.
A. True
B. False
A. True
What is depreciation?
A) The process of allocating the cost of a tangible asset over its useful life
B) The reduction in the value of a financial investment
C) The increase in the value of a fixed asset
D) The process of adjusting for inflation in financial statements
A) The process of allocating the cost of a tangible asset over its useful life
What is ABC in Managerial Accounting?
A. Assign costs based solely on machine hours
B. Activity-based costing
C. Allocate overhead costs based on direct labor hours
B. Activity-based costing
Which of the following tax credits is refundable, meaning you can receive the credit even if it exceeds your tax liability?
A. Child Tax Credit
B. Lifetime Learning Credit
C. Earned Income Tax Credit (EITC)
D. American Opportunity Credit
C (The Earned Income Tax Credit is refundable, while the others are non-refundable or partially refundable).
In 1983 and 1992, the _____________ served as a place of refuge for North Shore residents fleeing from floods and hurricanes.
A. Aloha Center
B. Cannon Activities Center
C. Mckay Building
D. Polynesian Cultural Center
B. Cannon Activities Center
Which shortcut opens the "Format Cells" dialog box?
A) Ctrl + F
B) Ctrl + 1
C) Ctrl + Shift + F
D) Ctrl + Alt + F
B. Ctrl + 1
What is the formula for calculating straight-line depreciation?
A) (Cost - Salvage Value) / Useful Life
B) Cost / Useful Life
C) (Cost - Salvage Value) x Useful Life
D) (Cost + Salvage Value) / Useful Life
A) (Cost - Salvage Value) / Useful Life
What does the break-even point represent?
A. The point where total sales equal total profits
B. The point where total revenue equals total fixed costs
C. The point where total revenue equals total costs, with no profit or loss
C. The point where total revenue equals total costs, with no profit or loss
In the U.S. tax code, which of the following expenses is generally NOT deductible when calculating taxable income for individuals?
A. Mortgage interest
B. Charitable donations
C. Medical expenses that exceed 7.5% of adjusted gross income
D. Personal commuting expenses to and from work
D (Personal commuting expenses are generally not deductible, while the others may be deductible under certain conditions).
____________ thousand acres of land in Laie was acquired by the Church of Jesus Christ of Latter-day Saints for $14,000 in 1865. A part of that land became the Church College of Hawaii, presently known as Brigham Young University–Hawaii.
A. 7
B. 6
C. 8
D. 5
B. 6