Sua 3 Study guides, Class notes & Summaries

SUA #3 Question and answers already passed 2023/2024alien - correct answer a citizen of another country resident alien - correct answer noncitizen living in the country denaturalization - correct answer Process by which a naturalized citizen may involuntarily lose their citizenship. dual national citizenship - correct answer the status of a person who is a legal citizen of two or more nations Jus soli - correct answer the law of soil, which determines citizenship based on where a per...

ACCT 3122 EXAM (SUA) with complete solution to create value - Answer ️️ -what is the purpose of a company? a company transforms resources into goods and services that it sells to customers - Answer ️️ - how does a company create value? The accounting system is used to - Answer ️️ --measure, record, categorize, and summarize the daily operating activities -provide accountability of all levels of management for their responsibilities -protect business assets from unauthorized us...

SUA Exam Question and answers correctly solved 2023/2024Which of the following documents originates outside the company? - correct answer Vendor Invoice The trial balance worksheet does NOT provide information sufficient to (blank) - correct answer Trail balance worksheet is sufficient for all purposes. 1. prepare a statement of retained earnings 2. Compute net income 3. Prepare balance sheet Which step in the accounting process directly precedes the preparation of closing entries? - ...

SUA - AIS Question and answers rated A+ 2023/2024(Waren) Accounting Process Step 1 - correct answer Transactions occur (Waren) Accounting Process Step 2 - correct answer Prepare Documents (Waren) Accounting Process Step 3 - correct answer Record in Journals (Waren) Accounting Process Step 4 - correct answer Post to Ledgers (Waren) Accounting Process Step 5 - correct answer Prepare Unadjusted G/L Trial Balance (Waren) Accounting Process Step 6 - correct answer Prepare a...

Accounting 433 Exam #1 SUA Study GuideSteps in the Accounting Process - correct answer 1. Transactions occur 2. Prepare documents 3. Record in journals 4. Post to ledgers 5. Prepare unadjusted general ledger trial balance 6. Prepare and post adjusting entries 7. Prepare adjusted trial balance 8. Prepare financial statements 9. Prepare closing entries Sales journal - correct answer Typically records: -Sales or other revenue -Sales returns and allowances may be recorded here or in a s...

ACCT 3340 SUA Test (2023/2024) Already Graded A Basic Steps in the Sales/Collection Process 1. Take the customer's order 2. Approve the customer's credit 3. Fill the approved order 4. Ship the product 5. Bill the customer 6. Receive payment 7. Sales returns 8. Identify and write off uncollectible accounts 1. Take the customer's order a. Can be written, electronic, or verbal b. Not a recordable transaction (no entry is made until the order is shipped) 2. Approve the customer's credit a. App...

SUA EXAM 1 2024 with complete solution Flow chart - Answer ️️ -is a diagram that graphically shows a company's documents and records their sequential flow in the organization Types of flow charts - Answer ️️ -Systems, internal control and program Systems flow chart - Answer ️️ --emphasizes the flow of documents and records in the organization -does not show segregation of duties -easy to read Internal control flow chart - Answer ️️ -shows the segregation of duties and ot...

SUA Exam Review Question and answers already passed 2023/2024In the Acronym ARCS, A stands for: - correct answer Authorization Which of the following transactions would NOT be recorded in the Accounts Receivable journal? - correct answer Cash sale In the Accounting Process, what steps are considered inputs? - correct answer Transactions Occur, prepare documents A client's accounting records are unfamiliar to a new auditor. Where would a new auditor go to learn the names and numbers of ...

SUA quiz 2024 questions and answers with complete solution Identify the three most common transaction cycles - Answer ️️ -1. Sales and cash receipts 2. Puchases and cash dibursements 3. Payroll List the 6 specialized (special) journals used in an accounting info system- by name and abbreviation - Answer ️️ -1. Sales journal (SJ) 2. Cash receipts journal (CR) 3. Purchases journal (PJ) 4. Cash disbursements journal (CD) 5. Payroll journal (PR) 6. General journal (GJ) What are t...

SUA EXAM 1 Flow chart - correct answer is a diagram that graphically shows a company's documents and records their sequential flow in the organization Types of flow charts - correct answer Systems, internal control and program Systems flow chart - correct answer -emphasizes the flow of documents and records in the organization -does not show segregation of duties -easy to read Internal control flow chart - correct answer shows the segregation of duties and othe internal controls ...