Accounting function - Study guides, Revision notes & Summaries

What are categorical funds? 1. Restricted funds for specific purposes only. 2. State - Title I, Federal Government, child nutrition School Site Council -principal is member -50/50 between parents and employees -does not vote on federal/state budgets Define "audit" and state what information an audit provides about school district funds. An audit is an examination of documents, records and accounts. Confirms the fund balances as well as their distribution among restricted a...

Well-structured CAS1501 Assignment 3 (ANSWERS) Semester 2 2024 - DISTINCTION GUARANTEED. (DETAILED ANSWERS - DISTINCTION GUARANTEED!)..... C1 From the CASE STUDY, describe the MAINFINDING of Judge Baloyi. 2 Full descriptionprovided Partialdescriptionprovided Incorrectdescriptionprovided C2 From the CASE STUDY, describe the MAINreason why Mr Smith was found guilty. 2 Full descriptionprovided Partialdescriptionprovided Incorrectdescriptionprovided C3 The CASE STUDY states that the Hig...

AUI3702 Assignment 2 (COMPLETE ANSWER) Semester 1 2024 - DUE 8 April 2024 ;100 % TRUSTED workings, explanations and solutions. For assistance call or W.h.a.t.s.a.p.p us on ...(.+.2.5.4.7.7.9.5.4.0.1.3.2)........... QUESTION 1 20 MARKS Luxury Outdoor Limited is a manufacturer of patio furniture and outdoor cushions. The production process is labour-intensive, and all patio furniture and outdoor cushions are custom-made. For this reason, labour costs represent the major portion of costs. Luxury O...

When a company is trying to regulate its spending and track incoming funds, the accountant should prepare an income statement once CORRECT ANSWER every month. A lending company will review a borrower's accounting documentation to evaluate CORRECT ANSWER creditworthiness. Which of the following doctrines prevents a person from insuring a neighbor's house? CORRECT ANSWER Doctrine of subrogation Which of the following inventory systems is designed to record the actual costs associated wi...

Investing activities - correct answer Purchase of land,, purchases or sales of fixed assets such as equipment and real estate Financial Accounting - correct answer Measuring a company's business activities and communicating those measurements to external parties. Financing activity - correct answer Activity that creates cash inflows or outflows through the obtaining or repaying of borrowed or invested funds. Balance sheet - correct answer A financial statement that reports as...

CHAPTER 1 ACCOUNTING IN ACTION CHAPTER LEARNING OBJECTIVES 1. Identify the activities and users associated with accounting. Accounting is an information system that identifies, records, and communicates the economic events of an organization to interested users. The major users and uses of accounting are as follows: (a) Management uses accounting information to plan, organize, and run the business. (b) Investors (owners) decide whether to buy, hold, or sell their financial interests on th...

This chapter has a lot of definitions. They are important, but we don't like to make students memorize too many of them early in the course. We let our students use the formula sheet that includes the key definitions. Note that there is an overlap between the T/F and multiple-choice questions, as some of the T/F statements are used in multiple-choice questions. Multiple Choice: True/False 1. The annual report contains four basic financial statements: the income statement, the balance...

Chapter 01 Environment and Theoretical Structure of Financial Accounting True / False Questions 1. The primary function of financial accounting is to provide relevant financial information to parties external to business enterprises. True False 2. Accrual accounting attempts to measure revenues and expenses that occurred during accounting periods so they equal net operating cash flow. True False 3. The FASB is currently the public-sector organizat...

Chapter 1—Financial Reporting MULTIPLE CHOICE 1. The following is NOT a major component of the financial statements: a. auditor’s opinion b. annual report c. explanatory notes d. balance sheet ANS: B PTS: 1 TOP: AICPA FN-Reporting DIF: Easy OBJ: LO 1 MSC: AACSB Reflective Thinking 2. The following are users of accounting information: a. stakeholders b. creditors c. investors d. all of the above ANS: D PTS: 1 TOP: AICPA FN-Reporting 3. Interested parties receive information ab...

Medicine Nephrology MCQs/MRCP Final Exam Questions and Answers 2024 Graded A+. Question 1 of 82 A 24-year-old woman is diagnosed as having nephrotic syndrome after being investigated for proteinuria. A diagnosis of minimal change glomerulonephritis is ade. What is the most appropriate initial treatment to reduce proteinuria? A. Protein restriction in diet B. No treatment shown to effective C. Angiotensin-converting-enzyme inhibitor D. Diuretic E. Prednisolone -------------------------...