ACC 280 FINAL EXAMS

ACC 280 Final Exam 2 1. Accountants refer to an economic event as a 2. The use of computers in recording business events 3. Which of the following is an external user of accounting information? 4. The origins of accounting are generally attributed to the work of 5. Generally accepted ...

ACC 280 Final Exam 4 1. Because accounting often requires estimates to be made to assess the effect of a transaction, the shorter the time period, the easier it becomes to determine the proper adjustments. 4. A company's calendar year and fiscal year are always the same. 5. Accounting ti...

ACC 280 Final Exam 5 1. An account 2. The left side of an account is 3. The double-entry system requires that each transaction must be recorded 4. Which one of the following represents the expanded basic accounting equation? 5. Dawson’s Delivery Service purchased equipment for $2,500. Dawso...

ACC 280 Final Exam 6 1. (TCO 1) Which of the following would not be considered an internal user of accounting data for a company? 2. (TCO 1) Resources owned by a business are referred to as . 3. (TCO 1) To show how successfully your business performed during a period of time, you would report i...

ACC 280 Final Exam 7 1) Balance sheet accounts are considered to be . 2) The major reporting standard for management accounts is . 3) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution ma...

ACC 280 Final Exam 9 1. Sources of increases to owner's equity are 2. A small neighborhood barber shop that is operated by its owner would likely be organized as a 3. An account consists of 4. A numbering system for a chart of accounts 5. The ledger should be arranged in 6. A debit to an asse...