Aami accounting - Study guides, Class notes & Summaries
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AAMI ACCOUNTING ONE FINAL REVIEW QUESTIONS WITH 100 % CORRECT ANSWERS | VERIFIED
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How do you increase an asset account? - Answer-Debit 
How do you decrease an asset account? - Answer-Credit 
How do you increase a liability account? - Answer-Credit 
How do you decrease a liability account? - Answer-debit 
How do you increase revenue? - Answer-Credit 
How do you increase expenses? - Answer-debit 
What is the accounting equation? - Answer-Assets=Liabilities+Owner's Equity 
Cash is a(n): - Answer-Asset 
Revenue is a(n): - Answer-Owner's Equity 
Accounts Receivable is a(n): - An...
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AAMI Accounting 2 Final Exam (Verified 2024)
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AAMI Accounting 2 Final Exam (Verified 2024)
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AAMI Accounting 2 Final Questions & Correct Answers | Latest Update |Already Graded A+
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The concept that prices rise over time 
: Inflation 
Another term for sales 
: Revenue 
Sales - Cost of Goods Sold 
: Gross Profit 
In an inflationary period what method of inventory valuation would lower profits 
: LIFO 
In an inflationary period what method of inventory valuation would increase profits 
: FIFO 
In a deflationary period what method of inventory valuation would lower profits 
: FIFO 
2 | P a g e 
In a deflationary period what method of inventory valuation would higher profits 
:...
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AAMI Accounting 2 Final BUNDLED exam 2023 with 100% correct answers
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AAMI Accounting 2 Final exam 2023 with 100% correct answers
AAMI Accounting 2 Final exam 2023 with 100% correct answers
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AAMI ACCOUNTING ONE FINAL REVIEW Questions and Verified Answers (2024 / 2025)/ A+ GRADE
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AAMI ACCOUNTING ONE FINAL REVIEW Questions and Verified Answers (2024 / 2025)/ A+ GRADE
And that's how you make extra money
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AAMI Accounting Bundled Exams Questions and Answers Latest Updates (2024/2025) 100% Pass
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AAMI Accounting Bundled Exams Questions and Answers Latest Updates (2024/2025) 100% Pass
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AAMI Accounting 1 Final Review (Bus 311) Questions and Answers
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AAMI Accounting 1 Final Review (Bus 311) 
Questions and Answers 
Account receivables are: - Correct Answer ️️ -Assets 
Cash is considered to be: - Correct Answer ️️ -Asset 
Which of the following is an example of a liability: - Correct Answer ️️ -Accounts 
Payable 
True or False - The expanded accounting equation is: Assets = Liabilities + Owner's 
Equity - Correct Answer ️️ -False 
Gross profit minus expenses equals: - Correct Answer ️️ -Net Profit 
Which of the following i...
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AAMI Accounting 2 Final questions well answered graded A+
- Exam (elaborations) • 9 pages • 2024
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AAMI Accounting 2 FinalThe concept that prices rise over time - correct answer Inflation 
 
Another term for sales - correct answer Revenue 
 
Sales - Cost of Goods Sold - correct answer Gross Profit 
 
In an inflationary period what method of inventory valuation would lower profits - correct answer LIFO 
 
In an inflationary period what method of inventory valuation would increase profits - correct answer FIFO 
 
In a deflationary period what method of inventory valuation would lower profits - ...
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AAMI Accounting 1 Final Review (Bus 311) Questions & Answers Already Passed!!
- Exam (elaborations) • 6 pages • 2024
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Account receivables are: - Answer-Assets 
Cash is considered to be: - Answer-Asset 
Which of the following is an example of a liability: - Answer-Accounts Payable 
True or False - The expanded accounting equation is: Assets = Liabilities + Owner's Equity - AnswerFalse 
Gross profit minus expenses equals: - Answer-Net Profit 
Which of the following is not factored into computing Owner's Equity in the expanded Accounting 
equation: - Answer-Owner's Equity = [Capital In - Withdrawals] + [Revenue...
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AAMI Accounting 2 Final Exam Correctly Solved 2024.
- Exam (elaborations) • 9 pages • 2024
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AAMI Accounting 2 Final Exam Correctly Solved 2024. 
The concept that prices rise over time - correct answer Inflation 
 
Another term for sales - correct answer Revenue 
 
Sales - Cost of Goods Sold - correct answer Gross Profit 
 
In an inflationary period what method of inventory valuation would lower profits - correct answer LIFO 
 
In an inflationary period what method of inventory valuation would increase profits - correct answer FIFO 
 
In a deflationary period what method of inventory va...
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