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FOR MORE CLASSES VISIT www.acc556assist.comChapter 1 QuizQuestion 1A business organized as a separate legal entity owned by stockholders is a partnership.

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Acc 556 slingshot academy acc556assist com

ACC 556 Slingshot Academy/ acc556assist.com

For More Tutorials

www.acc556assist.com


Acc 556 slingshot academy acc556assist com1

ACC 556 Slingshot Academy/ acc556assist.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)ACC 556 Chapter 4 Quiz (100% Score)ACC 556 Chapter 5 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.


Acc 556 slingshot academy acc556assist com2

ACC 556 Slingshot Academy/ acc556assist.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.


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ACC 556 Slingshot Academy/ acc556assist.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.

  • Chapter 5 Quiz

  • 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.


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ACC 556 Slingshot Academy/ acc556assist.com

ACC 556 Chapter 6 Quiz (100% Score)

ACC 556 Chapter 7 Quiz (100% Score)

  • Chapter 6 Quiz

  • Question 1

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

  • Chapter 7 Quiz

  • 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.


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ACC 556 Slingshot Academy/ acc556assist.com

ACC 556 Chapter 8 Quiz (100% Score)

ACC 556 Chapter 9 Quiz (100% Score)

  • Chapter 8 Quiz

  • 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.

  • Chapter 9 Quiz

  • 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.


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ACC 556 Slingshot Academy/ acc556assist.com

ACC 556 Chapter 10 Quiz (100% Score)

ACC 556 Chapter 11 Quiz (100% Score)

  • Chapter 10 Quiz

  • Question 1

  • A current liability must be paid out of current earnings.

  • Question 2

  • Most notes are not interest bearing.

  • Chapter 11 Quiz

  • Question 1 

  • A current liability must be paid out of current earnings.

  • Question 2 

  • Most notes are not interest bearing


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ACC 556 Slingshot Academy/ acc556assist.com

ACC 556 Chapter 12 Quiz (100% Score)

ACC 556 Chapter 13 Quiz (100% Score)

  • Chapter 12 Quiz

  • 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.

  • Chapter 13 Quiz

  • 1.    Price-earnings ratio

  • 2.    Return on assets

  • 3.    Accounts receivable turnover ratio

  • 4.    Earnings per share

  • 5.    Payout ratio


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ACC 556 Slingshot Academy/ acc556assist.com

ACC 556 Chapter 21 Quiz (100% Score)

ACC 556 Chapter 22 Quiz (100% Score)

  • Chapter 21 Quiz

  • Question 1

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

  • Chapter 22 Quiz

  • 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.


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ACC 556 Slingshot Academy/ acc556assist.com

ACC 556 Final Part 1 (100% Correct Answers)

ACC 556 Final Part 1 and 2

  • Final  Part 1

  • 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

  • Final  Part 1

  • 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 slingshot academy acc556assist com10

ACC 556 Slingshot Academy/ acc556assist.com

ACC 556 Final Part 2 (100% Correct Answers)

ACC 556 Midterm Part 1 (100% Correct Answers)

  • Final  Part 2

  • 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%.

  • ACC 556 - Midterm part 1

  • · Question 1

  • Source documents can provide evidence that a transaction has occurred

  • · Question 2

  • Expense recognition is tied to revenue recognition.


Acc 556 slingshot academy acc556assist com11

ACC 556 Slingshot Academy/ acc556assist.com

ACC 556 Midterm Part 2 (100% Correct Answers)

ACC 556 Week 6 Assignment 1 Financial Analysis (4 Papers, Apple, Lowe's, Mc Donalds, Walmart)

  • ACC 556 - Midterm part 2

  • Question 1•Which of these would cause the inventory turnover ratio to increase the most?Question 2•Bad Debt Expense is considered•Question 3A trial balance proves

  • ACC 556 Week 6 Assignment 1 Financial AnalysisAssignment 1: Financial Analysisworth 160 points

  • Use the Internet or Str databases to research one (1) publicly traded company and review its last annual report. Use an investor’s view to perform financial analysis and discuss various non-financial factors impacting investment decision.


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ACC 556 Slingshot Academy/ acc556assist.com

ACC 556 Week 10 Assignment 2 Budget Planning and Control (3 Papers)

  • Assignment 2: Budget Planning and ControlDue Week 10 and worth 160 pointsUse the Internet and / or databases to research budget planning and control. Imagine that the company that you currently work for, have previously worked for, or would like to work for in the future has tasked you with preparing a budget plan.


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ACC 556 Slingshot Academy/ acc556assist.com

For More Tutorials

www.acc556assist.com


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