Sua 3 - Study guides, Class notes & Summaries

SUA EXAM 1 QUESTIONS AND ANSWERS RATED A Flow chart is a diagram that graphically shows a company's documents and records their sequential flow in the organization Types of flow charts Systems, internal control and program Systems flow chart -emphasizes the flow of documents and records in the organization -does not show segregation of duties -easy to read Internal control flow chart shows the segregation of duties and othe internal controls -show everything but is more difficult to read Pr...

SUA Exam Review. In 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 the accounts being debited and credited in ...

SUA #3alien - 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 person is born naturalization - correct answer...

SUA Quiz 1In 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 the accounts being debited and credited in the tran...

Civil Procedure II Final Outline Subject Matter Jurisdiction I. Overview A. Determines whether court has juris over the specific cause of action B. The court may consider subject matter jurisdiction at any time, upon motion by a party or sua sponte C. A court has competence to hear a matter if one of three things is true: 1. It is authorized to do so by statute. Ex – diversity jurisdiction is authorized by 28 USC §1332 2. The case involves a federal question i.e. the claim arises und...

SUA Exam Which 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? - correct answer preparation of financial statem...

EXAM 1 SUA QuestionsSpecial Journals: - correct answer sales, cash receipts, purchases, cash disbursements, and payroll Subsidiary Ledger: - correct answer accounts receivable, accounts payable, fixed assets, and employee earnings accounting process: - correct answer transactions occur, prepare documents, record in journals, post to ledgers, unadjusted general ledger, adjusting entries, adjusted trial balance, financial statements, closing entries. why have special journals, instead of ...

SUA Quiz 1 Latest Update Graded A+ What is the name of the company? Waren Sports Supplies What type of business is the business? Wholesaling Who does the company distribute goods to and how is it operated? Colleges and universities; a salaried manager and two hourly employees What are the names of the company's three employees? Ray Kramer (manager) Jim Adams (employee) Nancy Ford (employee) The record keeping have been completed through what date? December 15th, 2017 Transactions occur thr...

SUA Chapter 1 Latest 2023 Graded A+ Steps in the Accounting Process 1. Transactions Occur 2. Prepare Documents 3. Record in Journals 4. Post to Ledgers (do at end of every month) 5. Prepare Unadjusted General Ledger Trial Balance (do at end of year) 6. Prepare and Post Adjusting Entries 7. Prepare Adjusted Trial Balance 8. Prepare Financial Statements 9. Prepare Closing Entries NEW YEAR - repeat #1-9 Recording Transactions Requires: 1. Identify the exchanges or adjustments that must be recorded...

Civil Procedure II Final Outline Subject Matter Jurisdiction I. Overview A. Determines whether court has juris over the specific cause of action B. The court may consider subject matter jurisdiction at any time, upon motion by a party or sua sponte C. A court has competence to hear a matter if one of three things is true: 1. It is authorized to do so by statute. Ex – diversity jurisdiction is authorized by 28 USC §1332 2. The case involves a federal question i.e. the claim arises und...