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For more classes visitwww.snaptutorial.comFinal Part 1Question 1 Under the corporate form of business organizationQuestion 2 Accountants do not attempt to measure the change in a plant asset's market value during ownership becauseQuestion 3 Budget reports provide the feedback needed by management to see whether actual operations are on course.Question 4 Intangible assets are rights, privileges, and competitive advantages that result from ownership of long-lived assets without physical substance.

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Acc 556 str slingshot academy snaptutorial com

ACC 556 STR Slingshot Academy / snaptutorial.com

For More Tutorials

www.snaptutorial.com


Acc 556 str slingshot academy snaptutorial com1

ACC 556 STR Slingshot Academy / snaptutorial.com

ACC 556 All Chapter Quizzes

ACC 556 Chapter 1 Quiz (100% Score)

Please check the details of Quizzes given under our product section individually (all questions are mentioned there)

ACC 556 Chapter 1 Quiz (100% Score)

ACC 556 Chapter 2 Quiz (100% Score)

ACC 556 Chapter 3 Quiz (100% Score)

Chapter 1 Quiz

Question 1

A business organized as a separate legal entity owned by stockholders is a partnership.

Question 2

Accounting communicates financial information about a business to both internal and external users.

Question 3


Acc 556 str slingshot academy snaptutorial com2

ACC 556 STR Slingshot Academy / snaptutorial.com

ACC 556 Chapter 2 Quiz (100% Score)

ACC 556 Chapter 3 Quiz (100% Score)

Chapter 2 Quiz

Question 1

Cash and supplies are both classified as current assets.

Question 2

Earnings per share measures the net income earned on each share of common stock.

Chapter 3 Quiz

· Question 1

Economic events that require recording in the financial statements are called accounting transactions

· Question 2

An account is often referred to as a T-account because of the way it is constructed.

· Question 3

Revenues are a subdivision


Acc 556 str slingshot academy snaptutorial com3

ACC 556 STR Slingshot Academy / snaptutorial.com

ACC 556 Chapter 4 Quiz (100% Score)

ACC 556 Chapter 5 Quiz (100% Score)

Chapter 4 Quiz

Question 1

The revenue recognition principle dictates that revenue be recognized in the accounting period in which the performance obligation is satisfied.

Question 2

An adjusting entry to a prepaid expense is required to recognize expired expenses.

Question 1

An advantage of using the periodic inventory system is that it requires less record keeping than the perpetual inventory system.

Question 2

The terms 2/10, net/30 mean that a 2 percent discount is allowed on payments made within the 10 days discount period.


Acc 556 str slingshot academy snaptutorial com4

ACC 556 STR Slingshot Academy / snaptutorial.com

ACC 556 Chapter 6 Quiz (100% Score)

ACC 556 Chapter 7 Quiz (100% Score)

Question 1

Raw materials inventories are the goods that a manufacturing company has completed and are ready to be sold to customers.

Question 2

Goods held on consignment should be included in the consignor’s ending inventory

Question 1

The most important element of the fraud triangle is rationalization.

Question 2

Requiring employees to take vacations is a weakness in the system of internal controls because it does not promote operational efficiency.


Acc 556 str slingshot academy snaptutorial com5

ACC 556 STR Slingshot Academy / snaptutorial.com

ACC 556 Chapter 8 Quiz (100% Score)

ACC 556 Chapter 9 Quiz (100% Score)

Question 1

An aging of accounts receivable schedule is based on the premise that the longer the period an account remains unpaid, the greater the probability that it will eventually be collected.

Question 2

Allowance for Doubtful Accounts is a contra account that is deducted

Question 1

The statement of cash flows is a required statement that must be prepared along with an income statement, balance sheet, and retained earnings statement.

Question 2

The activity from the balance sheet to be presented in the financing activities section of the statement


Acc 556 str slingshot academy snaptutorial com6

ACC 556 STR Slingshot Academy / snaptutorial.com

ACC 556 Chapter 10 Quiz (100% Score)

ACC 556 Chapter 11 Quiz (100% Score)

Question 1

A current liability must be paid out of current earnings.

Question 2

Most notes are not interest bearing.

Question 3

Unearned revenues are received before goods are delivered or services are rendered.

Question 1

A current liability must be paid out of current earnings.

Question 2

Most notes are not interest bearing

Question 3

Unearned revenues are received before goods are delivered or services are rendered.


Acc 556 str slingshot academy snaptutorial com7

ACC 556 STR Slingshot Academy / snaptutorial.com

ACC 556 Chapter 12 Quiz (100% Score)

ACC 556 Chapter 13 Quiz (100% Score)

Question 1

The statement of cash flows is a required statement that must be prepared along with an income statement, balance sheet, and retained earnings statement.

Question 2

The activity from the balance sheet to be presented in the financing activities section of the statement of cash flows

1. Price-earnings ratio

2. Return on assets

3. Accounts receivable turnover ratio

4. Earnings per share

5. Payout ratio

6. Current cash debt coverage

7. Current ratio

8. Debt to assets ratio

9. Free cash flow


Acc 556 str slingshot academy snaptutorial com8

ACC 556 STR Slingshot Academy / snaptutorial.com

ACC 556 Chapter 21 Quiz (100% Score)

ACC 556 Chapter 22 Quiz (100% Score)

Question 1

A benefit of budgeting is that it provides definite objectives for evaluating performance.

Question 2

Effective budgeting requires clearly defined lines of authority and responsibility.

Question 3

Financial budgets must be completed before the operating budgets can be prepared.

Question 1

Budget reports comparing actual results with planned objectives should be prepared only once a year.

Question 2

A static budget is changed only when actual activity is different from the level of activity expected.


Acc 556 str slingshot academy snaptutorial com9

ACC 556 STR Slingshot Academy / snaptutorial.com

ACC 556 Final Part 1 (100% Correct Answers)

ACC 556 Final Part 1 and 2

Question 1

Under the corporate form of business organization

Question 2

Accountants do not attempt to measure the change in a plant asset's market value during ownership because

Question 1

Under the corporate form of business organization

Question 2

Accountants do not attempt to measure the change in a plant asset's market value during ownership because


Acc 556 str slingshot academy snaptutorial com10

ACC 556 STR Slingshot Academy / snaptutorial.com

ACC 556 Final Part 2 (100% Correct Answers)

ACC 556 Midterm Part 1 (100% Correct Answers)

Question 1

A manager of a cost center is evaluated mainly on

Question 2

Bogey Co. recorded operating data for its Cheap division for the year. Bogey requires its return to be 10%.

Sales $ 1,400,000

Controllable margin 160,000

· Question 1

Source documents can provide evidence that a transaction has occurred

· Question 2

Expense recognition is tied to revenue recognition.

· Question 3

To obtain maximum benefit from a bank reconciliation, the reconciliation should be prepared by the employee


Acc 556 str slingshot academy snaptutorial com11

ACC 556 STR Slingshot Academy / snaptutorial.com

ACC 556 Midterm Part 1 and 2

ACC 556 Midterm Part 2 (100% Correct Answers)

· Question 1

Source documents can provide evidence that a transaction has occurred

· Question 2

Expense recognition is tied to revenue recognition.

Question 3

To obtain maximum benefit from a bank reconciliation, the reconciliation should be prepared by the employee

ACC 556 - Midterm part 2

•Question 3

A trial balance proves

Question 2

Bad Debt Expense is considered

Question 1

Which of these would cause the inventory turnover ratio to increase the most


Acc 556 str slingshot academy snaptutorial com12

ACC 556 STR Slingshot Academy / snaptutorial.com

ACC 556 Week 6 Assignment 1 Financial Analysis

ACC 556 Week 10 Assignment 2 Budget Planning

This Tutorial contains 4 Different Papers (Apple, Lowe's, Mc Donalds, Walmart)

worth 160 points

Assignment 1: Financial Analysis

ACC 556 Week 6 Assignment 1 Financial Analysis

This Tutorial contains 3 Different Papers

Assignment 2: Budget Planning and Control

Due Week 10 and worth 160 points

Use the Internet and / or databases to research budget planning and control. Imagine that the company that you currently work for, have previously worked for


Acc 556 str slingshot academy snaptutorial com13

ACC 556 STR Slingshot Academy / snaptutorial.com

For More Tutorials

www.snaptutorial.com


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