Acc101 - Study guides, Study notes & Summaries

Our Accounting [ACC101 Introduction] University Notes are the perfect study companion for any student looking to excel in their accounting class. These colorful notes provide in-depth explanations of the most important concepts, accompanied by numerous examples and adjustment figure elaborations to help you fully understand the material. With these notes, you'll be able to confidently tackle any accounting problem and earn the grades you deserve. Don't settle for mediocre notes - invest in our...

ACC101 UPDATED Actual Exam Questions and CORRECT Answers b = 199,000 - 132,000 = 67,000 - CORRECT ANSWER- QN=1 If assets are $199,000 and liabilities are $132,000, then equity equals a. $32,000. b. $67,000. c. $99,000. d. $131,000. e. $198,000. b - CORRECT ANSWER- QN=2 A cash outflow from the company into its owner is called a(n): a. Liability. b. Withdrawal. c. Expense. d. Profit. e. Investment.

An adjusting entries for unearned revenue affects correct answers Revenue and Liabilities How will it affect total Assets in the balance sheet if tangible fixed assets are not depreciated at the end of the period? correct answers Total Assets are overstated How will it affect Income Statement if an accrued expense of $450 is forgotten to record at the end of the period? correct answers Net Income in the Income Statement will be overstated for $450 What accounting principle requires cred...

A correct answers QN=1 Merchandise inventory includes: a. All goods owned by a company and held for sale. b. All goods in transit. c. All goods on consignment. d. Only damaged goods. e. All goods in the stores of company. E correct answers QN=2 Costs included in the Merchandise Inventory account can include: a. Invoice price minus any discount. b. Transportation-in. c. Storage. d. Insurance. e. All of these. E correct answers QN=3 During a period of steadily rising costs,...

ACC101 (của Trinh)

PowerPoint summary of the UCT Business Acumen For Accountants (ACC1015S) module, which was inaugurated in 2023. This document was written based on the content of the 2nd semester of its teaching. It contains summaries of various topics covered - including business classifications, processes, value creation, stakeholders, risks and opportunities, sustainability, etc.

ACC101 Final Exam Questions with Complete Solutions 1 Merchandise inventory includes: a. All goods owned by a company and held for sale. b. All goods in transit. c. All goods on consignment. d. Only damaged goods. e. All goods in the stores of company. - ANSWER A 2 Costs included in the Merchandise Inventory account can include: a. Invoice price minus any discount. b. Transportation-in. c. Storage. d. Insurance. e. All of these. - ANSWER E 3 Durin...

ACC101 Chapter 4 Questions And Answers

ALL THE NOTES YOU WILL NEED TO PASS THE EXAM. First-year second-semester business accounting notes, all chapters start to finish. Notes made from the lecture slides, lecture videos and lecturer talking points thus making them in-depth and comprehensive.

Acc 101 UPDATED Actual Exam Questions and CORRECT Answers Accounting is an information and measurement system that does all of the following except Identifies business activities Records business activities Communicates business activities Eliminates the need for interpreting financial data Helps people make better decisions - CORRECT ANSWER- Eliminates the need for