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Acc 556 str course great wisdom tutorialrank com

ACC 556 STR Course Great Wisdom-tutorialrank.com

For More Tutorials

www.tutorialrank.com


Acc 556 str course great wisdom tutorialrank com1

ACC 556 All Chapter Quizzes

ACC 556 Chapter 1 Quiz (100% Score)

  • 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

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ACC 556 Chapter 2 Quiz (100% Score)

ACC 556 Chapter 3 Quiz (100% Score)

  • 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.

  • Question 3

  • Net cash provided by operating activities takes into account that

  • · 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

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ACC 556 Chapter 4 Quiz (100% Score)

ACC 556 Chapter 5 Quiz (100% Score)

  • 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

  • · 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.

  • Question 3

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ACC 556 Chapter 6 Quiz (100% Score)

ACC 556 Chapter 7 Quiz (100% Score)

  • Question 1Raw materials inventories are the goods that a manufacturing company has completed and are ready to be sold to customers.

  • Question 2oods held on consignment should be included in the consignor’s ending inventoryQuestion 3If a company has no beginning inventory and the unit cost of 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.

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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 of cash flows is based on an analysis

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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.

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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 is based on an analysis of stockholders’ equity only.

  • . Price-earnings ratio

  • 2. Return on assets

  • 3. Accounts receivable turnover ratio

  • 4. Earnings per share

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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 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.

  • Question 3

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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

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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 2Bogey Co. recorded operating data for its Cheap division for the year. Bogey requires its return to be 10%.ales $ 1,400,000

  • Controllable margin 160,000

  • Total average assets 4,000,000

  • Question 1

  • Source documents can provide evidence that a transaction has occurred· Question 2Expense recognition is tied to revenue recognition.

  • · Question 3

  • To obtain maximum benefit from a bank reconciliation, the reconciliation should be prepared by the employee authorized to sign checks.

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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 1

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

  • · Question 2

  • Bad Debt Expense is considered

  • · Question 3

  • A trial balance proves

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

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

  • ACC 556 Week 6 Assignment 1 Financial Analysis

  • Assignment 1: Financial Analysis

  • worth 160 points

  • Use the Internet or Str databases to research one (1) publicly traded company

  • · 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

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