ACCOUNTING211 solution pack well solved!

Acct 211 chapters 20, 21, 22 questions with answers graded A+A major purpose of cost accounting is to - correct answer Measure, record, and report product costs Usually, under- or overapplied overhead is considered to be an adjustment to - correct answer cost of goods sold If manufacturing ove...

ACCOUNTING 211 Liberty University -ACCT 211: Chapter 1, Financial Accounting fully solvedRevenue Recognition - correct answer Revenue is recognized and recorded when earned. Matching - correct answer Expenses are recorded in the time period when they are incurred to generate revenues Cost - co...

ACCT 211 CH 1-3 questions with 100% correct answersaccounting - correct answer An information and measurement system that identifies, records, and communicates relevant, reliable, and comparable information about an organization's business activities bookkeeping - correct answer The recording of...

ACCT 211 - EXAM 2 - KOSS fully solved graded A+days' sales uncollected - correct answer (Accounts receivable/ net sales) x 365 current ratio - correct answer current assets/ current liabilities acid test ratio - correct answer (cash and cash equivs + short term investments + current receivabl...

ACCT 211 - Exam 1 questions well answered graded A+__________ is called the language of business - correct answer Accounting External users - correct answer Lender, Shareholders, Governments, Consumer Groups, External Auditors, Customers Internal users: - correct answer officers, managers, int...

ACCT 211 - Exam 1 questions with correct answersAccounting - correct answer Information and measurement system that identifies, records, and communicates relevant information about a company's business activities. Accounting Equation - correct answer Equality involving a company's assets, liabi...

Accounting 211 questions with answersAccounting Transactions - correct answer -Economic events that require recording in the financial statements -Exchange of assets, liabilities, and stockholders equity Accounting Equation - correct answer Assets = Liabilities + Stockholders' Equity Transac...

Accounting 211 fully solvedShare of common stock - correct answer certificates of ownership in a corporation Dividends - correct answer earnings of a corporation distributed to owners Fiscal Year - correct answer a year in the life of a business, does not have to match a calendar year Princ...

Accounting 211 questions with correct answersGenerally Accepted Accounting Principles (GAAP) - correct answer aims to make information relevant, reliable, and comparable Accounting Equation - correct answer Assets=Liabilities Equity Assets - correct answer resources a company owns or controls,...

Accounting 211 Final Exam questions & answers rated A+Corporation advantages - correct answer separate legal entity (takes actions through agents) limited liabilities of stockholders transferable ownership rights continuous life lack of mutual agency (stockholders cannot bind corporation...

Accounting 211 Final Exam Koss questions with 100% correct answersAdvantages of Corporations - correct answer Separate Legal Entity Limited Liability of Stockholder Unlimited Life Ease of Capital Accumulation Disadvantages of Corporations - correct answer Corporate Taxation Government Regulat...

Accounting 211 Exam 1 questions well answeredChapter 1 - correct answer managerial accounting - correct answer field of accounting that provides economic and financial information for managers and other internal users main differences between managerial and financial - correct answer manageri...

Accounting 211 exam 1 questions well answered graded A+What is the proper closing entry for dividends? - correct answer *Debit retained earnings, credit dividends* Ken just started a business and made the following 3 inventory purchases in November: -Nov 1- 150 units @ $780 -Nov 8- 200 units @ ...

Accounting 211 exam 1 Debits and Credits well answeredAssets - correct answer increase with debits decrease with credit Liabilities - correct answer decrease with debits increase with credits Shareholder's equity - correct answer decrease with debits increase with credits Normal balance...

ACCOUNTING 211 Liberty University -Accounting 211 Chapter 1-4 fully solved graded A+Three types of businesses are - correct answer 1. Financing Activities: borrowing or paying back money to lenders and receiving additional funds from stockholders or paying them dividends 2. Investing Activities:...

ACCT-211 Exam 1 Questions & AnswerA statement of cash flows is generated to show - correct answer The inflow and outflow of cash during the time period Which of the following sections of the statement of cash flows is presented differently between the direct and indirect method? - correct answer ...

ACCT 211-Liberty University EXAM 1Importance of Accounting - correct answer Identifying, Recording, Communicating Users of Financial Information - correct answer 1. Internal 2. External Internal Users - correct answer Internal users of accounting information ARE directly involved in managing ...

acct 211The accounting equation can be restated as: Assets + Liabilities = Equity. - correct answer False From an accounting perspective, an event is a happening that affects the accounting equation but cannot be measured. - correct answer False The balance column in a ledger account is: - cor...

acct 211 test 1service company - correct answer Provides a service - does something for you instead of providing something to you ex. lion tutors merchandising company - correct answer Buys goods, adds value to the goods and then resells the goods with added value Ex. Target manufacturing co...

ACCT 211 Quiz 1Accounting is also known as... - correct answer The language of business Accounting - correct answer An information system and measurement system that identifies, records, and communicates information about an organization's business activities Managerial Accounting - correct a...

Acct 211 Quiz #1Measurement Principle - correct answer (also called the cost principle) means that accounting information is based on actual cost Revenue Recognition Principle - correct answer Provides guidance on when a company must recognize revenue Matching Principle (expense recognition) -...

acct 211 midterm #1What section of a cash flow statement shows the cash spent on new equipment during the past accounting period? - correct answer The investing section Corporations generally receive more favorable tax treatment than sole proprietorships and partnerships. - correct answer FALSE ...

ACCT 211 Final ExamSeparate legal entity, Limited liability of stockholders, transferable ownership rights, continuous life, lack of mutual agency for stockholders, ease of capital accumulation. - correct answer Advantages of a corporation Government regulation, corporate taxation. - correct answ...

ACCT 211 Final ExamFalse - correct answer Understanding generally accepted accounting principles is not necessary to effectively use and interpret financial statements Assets=Liability + Equity - correct answer Accounting Equation False - correct answer From an accounting perspective, an event...

ACCT 211 ExamAsset, Liability, or Equity: Accounts Payable - correct answer Liability Asset, Liability, or Equity: Accounts Recievable - correct answer Asset Asset, Liability, or Equity: Equipment - correct answer Asset Asset, Liability, or Equity: Sales Revenue - correct answer...

ACCT 211 Exam 3(Ch. 7) Long-Term Assets Tangible Asset - correct answer Material: Land, buildings, equipment, etc. (Ch. 7) Long-Term Assets Intangible Asset - correct answer Non-material: Patents, trademarks, copyrights, etc. (Ch. 7) Long-Term Assets Tangible and intangible assets are recor...

ACCT 211 EXAM 2 Accounting Cycle - correct answer Recurring steps performed each accounting period, starting with analyzing transactions and continuing through the post-closing trail balance (or reverse entries) Classified Balance Sheet - correct answer Balance sheet that presents assets and lia...

product testing cost - correct answer which of the following is an example of appraisal costs for quality management? false - correct answer businesses should invest up front in internal and external failure costs to reduce prevention and appraisal costs (T/F) it triggers production after the ...

ACCT 211 Exam 1What is managerial accounting? - correct answer Provides information and analysis to managers inside the organization to assist them in decision making. Financial Accounting vs Managerial Accounting: Primary Users of Reports - correct answer Financial Accounting is external users, ...

ACCT 211 Exam 1What is the primary purpose of financial accounting? - correct answer To measure business activities of a company and then communicate them to external parties for decision making purposes. Distinguish between managerial and financial accounting. - correct answer +Managerial-Accoun...

Acct 211 chapters 20, 21, 22A major purpose of cost accounting is to - correct answer Measure, record, and report product costs Usually, under- or overapplied overhead is considered to be an adjustment to - correct answer cost of goods sold If manufacturing overhead has a credit balance at the...

ACCT 211: Chapter 1, Financial Accounting Revenue Recognition - correct answer Revenue is recognized and recorded when earned. Matching - correct answer Expenses are recorded in the time period when they are incurred to generate revenues Cost - correct answer Assets are recorded and maintaine...

ACCT 211 CH 1-3accounting - correct answer An information and measurement system that identifies, records, and communicates relevant, reliable, and comparable information about an organization's business activities bookkeeping - correct answer The recording of transactions and events, either man...

ACCT 211 - EXAM 2 - KOSSdays' sales uncollected - correct answer (Accounts receivable/ net sales) x 365 current ratio - correct answer current assets/ current liabilities acid test ratio - correct answer (cash and cash equivs + short term investments + current receivables)/ current liabilitie...

ACCT 211 - Exam 1__________ is called the language of business - correct answer Accounting External users - correct answer Lender, Shareholders, Governments, Consumer Groups, External Auditors, Customers Internal users: - correct answer officers, managers, internal auditors, sales staff, budge...

ACCT 211 - Exam 1 Accounting - correct answer Information and measurement system that identifies, records, and communicates relevant information about a company's business activities. Accounting Equation - correct answer Equality involving a company's assets, liabilities, and equity; Assets = ...

Accounting 211Accounting Transactions - correct answer -Economic events that require recording in the financial statements -Exchange of assets, liabilities, and stockholders equity Accounting Equation - correct answer Assets = Liabilities + Stockholders' Equity Transaction Analysis - correct...

Accounting 211Share of common stock - correct answer certificates of ownership in a corporation Dividends - correct answer earnings of a corporation distributed to owners Fiscal Year - correct answer a year in the life of a business, does not have to match a calendar year Principal - correc...

Accounting 211Generally Accepted Accounting Principles (GAAP) - correct answer aims to make information relevant, reliable, and comparable Accounting Equation - correct answer Assets=Liabilities Equity Assets - correct answer resources a company owns or controls, these resources are expected t...

Financial accounting - correct answer providing information about the financial resources, obligations and activities of an economic entity that is intended for use primarily by external decision makers, investors and creditors Generally Accepted accounting principles (GAAP) - correct answer prin...

Accounting 211 Quiz- Chapters 1 & 2accounting - correct answer an information and measurement system that identifies, records, and communicates relevant, reliable, and comparable info about an organization's business activities external users - correct answer not directly involved in running org...

Accounting 211 Final ExamCorporation advantages - correct answer separate legal entity (takes actions through agents) limited liabilities of stockholders transferable ownership rights continuous life lack of mutual agency (stockholders cannot bind corporation to contracts) ease of cap...

Accounting 211 Final Exam Koss Advantages of Corporations - correct answer Separate Legal Entity Limited Liability of Stockholder Unlimited Life Ease of Capital Accumulation Disadvantages of Corporations - correct answer Corporate Taxation Government Regulation Authorized Stock - correct ...

Accounting 211 Exam 1Chapter 1 - correct answer managerial accounting - correct answer field of accounting that provides economic and financial information for managers and other internal users main differences between managerial and financial - correct answer managerial: -for internal users...

Accounting 211 exam 1What is the proper closing entry for dividends? - correct answer *Debit retained earnings, credit dividends* Ken just started a business and made the following 3 inventory purchases in November: -Nov 1- 150 units @ $780 -Nov 8- 200 units @ $1170 -Nov 22- 200 units @ $1260 ...

Accounting 211 exam 1 Debits and CreditsAssets - correct answer increase with debits decrease with credit Liabilities - correct answer decrease with debits increase with credits Shareholder's equity - correct answer decrease with debits increase with credits Normal balance - correct ans...