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
Rent received in advance
Question 3. Question : (TCO 2) Interest cost is calculated by multiplying the
ABO by the expected return on the plan assets.
ABO by the discount rate.
PBO by the expected 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 ACCT312 and nonvested benefits at present pay levels
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