Accounting 230 wsu - Study guides, Class notes & Summaries

Three primary classifications of stockholders equity - correct answer Paid-In Capital Retained Earnings Treasury Stock Articles of Incorporation (Corporate Charter) - correct answer describes... (a) the nature of the firm's business activities, (b) the shares of stock to be issued, and (c) the initial board of directors The board of directors - correct answer establishes corporate policies and appoints officers who manage the corporation. Ex. They appoint CEO Stockholders - c...

WSU ACCTG 230 Exam 1 SET TEST QUESTIONS AND CORRECT ANSWERS Already Passed Which of the following represents a resource of the company? 1.Liability 2.Asset. 3.Dividend. 4. Expense. - ANSWER : Asset Financial accounting information is essential to: Marketing the company's products to customers. Making good business decisions. Quality of the work environment for employees. Paying the appropriate amount of taxes. - ANSWER : Making good business decisions. Which financial statemen...

ACCTG 230 WSU EXAM 1 SET TEST QUESTIONS AND CORRECT ANSWERS Already Passed Investing activities - ANSWER : Purchase of land,, purchases or sales of fixed assets such as equipment and real estate Financial Accounting - ANSWER : Measuring a company's business activities and communicating those measurements to external parties. Financing activity - ANSWER : Activity that creates cash inflows or outflows through the obtaining or repaying of borrowed or invested funds. Balance...

What are operating activities? - correct answer Transactions related to the primary operations of the company; providing products to customers, utilities, taxes, advertising, wages, rent, and maintenance. What are financing activities? - correct answer Transactions involving external sources of funding. Creditors that loan money. What are investing activities? - correct answer Purchase and sale of long-term investments; land, buildings, equipment, and machinery. How do you calcula...

What are operating activities? - correct answer Transactions related to the primary operations of the company; providing products to customers, utilities, taxes, advertising, wages, rent, and maintenance. What are financing activities? - correct answer Transactions involving external sources of funding. Creditors that loan money. What are investing activities? - correct answer Purchase and sale of long-term investments; land, buildings, equipment, and machinery. How do you calcula...

What are operating activities? - correct answer Transactions related to the primary operations of the company; providing products to customers, utilities, taxes, advertising, wages, rent, and maintenance. What are financing activities? - correct answer Transactions involving external sources of funding. Creditors that loan money. What are investing activities? - correct answer Purchase and sale of long-term investments; land, buildings, equipment, and machinery. How do you calcula...