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accounting exam 1 practice guide questions
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accounting exam 1 practice guide questions
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ACCOUNTING EXAM 1 PRACTICEGUIDE QUESTIONS & VERIFIED
RATIONALIZED ANSWERS 100%
GUARANTEE PASS
h True or false, A factory manager's salary would be classified as a period cost. - false
Equity= - paid-in capital+ending retained earnings
beginning retained earnings + net income - dividends= - ending retained earnings
If owner's equity decreases from the beginning of the year to the end of the year, then
A. net income is less than dividends.
B. there was a net income and no dividends.
C. additional investments are greater than a net loss.
D. net income is greater than dividends. - net income is less than dividends
To find the cost of the company to produce each unit, what costs must you add together? - variable costs
Is utilities a fixed or variable cost? - variable
What is not a benefit of following a well-designed budgeting process? - assurance of future profits
If an individual asset is increased, then there could be an equal _______ in another asset - decrease
equity= - assets-liabilities
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