package deal of ACC Correctly Answered.

ISOLATION/REDEMPTION - "...... and ....... as ......" - correct answer Hard,sharp,flint ISOLATION - ".......... as an .........." - correct answer Solitary, oyster ISOLATION/REDEMPTION - "he ........ his own ... temperature ...... with him" - correct answer Carried, low, a...

2 organizations that are simple to establish - correct answer sole proprietorship & partnership organization that is easy to transfer ownership - correct answer corporations organizations that has no personal liablility - correct answer corporations 2 internal users of financ...

accounting - correct answer the process of identifying, measuring and communicating economic information to permit informed judgements and decisions -the language of business basic accounting formula - correct answer assets=liabilities + stockholders equity stockholders equity - cor...

asset - correct answer a future economic benefit, balance sheet, debit to increase liability - correct answer an obligation of a business, balance sheet, credit to increase equity - correct answer the owners' claims on the assets of an entity, credit to increase revenue - co...

Number one Concern of Accounting - correct answer - Cost of Inventory Sale of Inventory (Revenue) - correct answer - When we sell our inventory and offer we offer our customers discounts, allowances, and returns, these amounts are recorded in Contra Revenue accounts. Cost of Inventor...

Accounting - correct answer Information system that identifies, records and communicates the economic events Income Statement - correct answer To show how sucessfully your business performed during a certain time (Revenues and Expenses) Retained Earnings Statement - correct answer ...

Acquiring cash from owners - correct answer Cash Capital stock Acquiring cash by borrowing - correct answer Cash Notes payable Acquiring fixed assets (ppe) with cash - correct answer Asset Cash Purchasing inventory on account - correct answer Inventory Accounts p...

Which of the following is not one of the three forms of business organization? a. Corporations b. Partnerships c. Proprietorships d. Investors - correct answer d Which of the following is the best definition of an internal user of accounting information? a. Investors who use account...

What context should we include in our ACC exam? - correct answer - Dickens' himself and his attitudes - Christmas - Social Class - Child Poverty - Women - Malthus - Workhouses and Poverty - Morality - Christianity Summary of the Context behind why Charles Dickens' wrote this...

Earnings per share is: - correct answer a measure of net income earned on each share of common stock. Working capital is: - correct answer current assets less current liabilities. All of the following are current assets except: accounts receivable cash patents marketable securit...

KAMs - correct answer - Key Audit Matters - Required to be communicated to those charged with governance, such as the audit committee - Effective for audits of financial statements of listed companies for periods ending on or after December 15, 2016 - International Auditing and Assuran...

Anna's Cookies combines cash and cash equivalents on the balance sheet. Using the following information, determine the amount reported for cash and cash equivalents. $130 in coins held in store registers. $4,060 cash in checking accounts. $630 in accounts payable to suppliers. $1,850 worth of e...

Master Budget - correct answer - Used to communicate management's plans for the upcoming period throughout the organization. - Used to allocate a company's resources and coordinate its activities. Budget Committee - correct answer Group of senior level managers responsible for deve...

The primary objective of financial reporting is to provide information A. to the federal government. B. about the profitability of the enterprise. C. regarding the cash flows of the enterprise. D. that is useful for making investment and lending decisions. - correct answer D How much ar...