Accounting
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ACC 205: Questions & Answers 
A major shortcoming of the direct write-off method is that credit losses are: - ANSWER: not 
matched with sales 
accounts receivable turnover - ANSWER: indicates how many times a year, on average, that a 
firm collects its account receivable 
allowance method - ANSWER: specific accounts are written off by debiting the Allowance for 
Doubtful Accounts and crediting the Accounts Receivable account 
Amortization - ANSWER: the periodic write-off to expense of an intangi...
Accounting 205: Questions and Answers 
______does not require a journal entry - ANSWER: Deposit in Transit 
a cash budget helps control cash by - ANSWER: helping to determine whether additional cash is 
available for investments or new financing is needed. 
A check was written for 462 to purchase supplies. The check was recorded in the journal as 426 - 
ANSWER: The entry to correct this error would decrease cash $36, and decrease supplies $36 
A company has a beginning inventory of $40,000 and p...
Acc 205: Question and Answers 
Act of State Doctrine - ANSWER: International law 
Cannot evaluate validity of another nations decision in its own territory 
Determine appropriate punishment 
Alien Corporation - ANSWER: corporation doing business in another country than it was 
founded in 
Antidumping - ANSWER: selling of goods in a foreign country at a price below the price 
charged for the same good in the domestic market 
Articles of incorporation - ANSWER: Founding document setting up a corpo...
Test Bank Solutions Manual for Core Concepts of Accounting Information Systems, 14e Mark Simkin, James Worrell, Arline Savage (All Chapters). Table of Contents Chapter 1 Accounting Information Systems and the Accountant 1 1.1 Introduction: Why Study Accounting Information Systems? 1 1.2 Careers in Accounting Information Systems 2 Traditional Accounting Career Opportunities 2 Systems Consulting 2 Fraud Examiner or Forensic Accountant 3 Information Technology Auditing and Security 4 Predictive Ana...
Test Bank Test Bank For Payroll Accounting 5th Edition By Jeanette Landin Newest Version | Complete All Chapters. Full chapters included Chapter 1 to 7. Chapter 1: Payroll Practices and System Fundamentals. Chapter 2: Payroll System Procedures. Chapter 3: Gross Pay Computation. Chapter 4: Fringe Benefits and Voluntary Deductions. Chapter 5: Employee Net Pay and Pay Methods. Chapter 6: Employer Payroll Taxes and Labor Planning. Chapter 7: The Payroll Register, Employees' Earnings Records, and Acc...
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Solutions Manual for Core Concepts of Accounting Information Systems, 14e Mark Simkin, James Worrell, Arline Savage (All Chapters). Table of Contents Chapter 1 Accounting Information Systems and the Accountant 1 1.1 Introduction: Why Study Accounting Information Systems? 1 1.2 Careers in Accounting Information Systems 2 Traditional Accounting Career Opportunities 2 Systems Consulting 2 Fraud Examiner or Forensic Accountant 3 Information Technology Auditing and Security 4 Predictive A...