Acct 2011 Study guides, Class notes & Summaries

ACCT 101 FINAL EXAM Questions and Answers Updated 2024/2025. A company's sales in 2010 were SR250,000 and in 2011 were SR287,500. Using 2010 as the base year, the sales trend percent for 2011 is: A. 100% B. 15% C. 87% D. 115% 2. The comparison of a company's financial condition and performance to a base amount is known as: A. Financial reporting B. Vertical analysis C. Horizontal ratios D. Investment analysis 3. The three most common tools of financial analysis are: A. Ratio analy...

ACCT 101 FINAL EXAM Questions and Answers Latest Updated 2024/2025. A company's sales in 2010 were SR250,000 and in 2011 were SR287,500. Using 2010 as the base year, the sales trend percent for 2011 is: A. 100% B. 15% C. 87% D. 115% 2. The comparison of a company's financial condition and performance to a base amount is known as: A. Financial reporting B. Vertical analysis C. Horizontal ratios D. Investment analysis 3. The three most common tools of financial analysis are: A. Rati...

ACCT 2101 Final Exam Study Guide Chapters 1 – 12 Chapter 1 1. The liability created by a business when it purchases coffee beans and coffee cups on credit from suppliers is termed a(n) a. account payable. b. account receivable. c. revenue. d. expense. 2. The right to receive money in the future is called a(n) a. account payable. b. account receivable. c. liability. d. revenue. 3. Borrowing money is an example of a(n) a. delivering activity. b. financing activity. c. inves...

Mortgage Agent Final Exam Practice Questions with 100% Correct Answers 2023/2024. What information must be in a Job Letter for it to be acceptable to a Lender? - ANSWER It should be on company letterhead, have the company address and contact information, list the Borrower's position, income, how it is paid (i.e. salary or hourly), the frequency of payment (i.e. weekly), if the person is full or part-time and/or on probation, the start date and the writer's information and contact informat...

Chapter 4 1.The periodicity assumption states that: a. a transaction can only affect one period of time. b. estimates should not be made if a transaction affects more than one time period. c. adjustments to the enterprise's accounts can only be made in the time period when the business terminates its operations. d. the economic life of a business can be divided into artificial time periods. 2.One of the accounting concepts upon which adjustments for prepayments and accruals are based is...

ACCT 101B FINAL REVIEW – KEY ACCT 101B FINAL REVIEW – KEY   ACCT 101B FINAL REVIEW – KEY CH. 17 An example of a cost which would not be assigned to an overhead cost pool is b. freight-out. A variable cost is a cost that c. varies in total in proportion to changes in the level of activity. A cost which remains constant per unit at various levels of activity is a a. variable cost. A company has total fixed costs of $160,000 and a contribution margin ratio of 20%. The...

Certified Payroll Professional Exam 120 Questions with Verified Answers Form SS-8 - CORRECT ANSWER Determination of worker status for purpose of federal employment taxes and income tax withholding. Can be filled out by the business or worker. Form W-4 - CORRECT ANSWER Employees withholding allowance certificate. Documents the amount of federal tax withholding. Form SS-4 - CORRECT ANSWER Application for employer identification number. Form 8233 - CORRECT ANSWER Exemption from withhold...

ACCT 505 FEDERAL TAX FINAL EXAM Federal Taxes and Decisions Final Exam – Professor Abner TRUE-FALSE QUESTIONS—CHAPTER 10 1. Terry Trumbull purchased a tract of land. In order to have city water, he had to pay the water company $5,000 to extend the water line to his property. The $5,000 cost is an addition to the basis of the land. TRUE 2. When property that is subject to an existing debt is purchased, the basis of the property is the amount of cash paid initially plus the unpaid deb...

ACCT 2101 Final Exam Study Guide Chapters 1 – 12 Chapter 1 1. The liability created by a business when it purchases coffee beans and coffee cups on credit from suppliers is termed a(n) a. account payable. b. account receivable. c. revenue. d. expense. 2. The right to receive money in the future is called a(n) a. account payable. b. account receivable. c. liability. d. revenue. 3. Borrowing money is an example of a(n) a. delivering activity. b. financing activity. c. inves...

ACCT 2101 Final Exam Study Guide Solutions Chapters 1 - 12 ACCT 2101 Final Exam Study Guide Chapters 1 – 12 Chapter 1 1. The liability created by a business when it purchases coffee beans and coffee cups on credit from suppliers is termed a(n) a. account payable. b. account receivable. c. revenue. d. expense. 2. The right to receive money in the future is called a(n) a. account payable. b. account receiva...