Afm 101 Study guides, Class notes & Summaries

Accounting - ANSWER-an information system that measures & records business activities, processes data into reports & reports results to decision makers Accounting equation - ANSWER-Assets = Liabilities + Owner's Equity. Provides the foundation for the double-entry method of accounting Accounting Standards for Private Enterprises - ANSWER-Canadian accounting standards that specify the generally accepted accounting principles applicable to private enterprises that are required to follow GAA...

Exam B F5 101 100 Questions and Answers with complete solution What does HTTP status code 500 mean? A. Service unavailable B. Internal server error ### C. Gateway timeout D. Bad gateway An administrator wants to insert per-session data in a users browser so that user requests are directed to the same session. Which session persistence method should the administrator use? A. SSL persistence B. Source address persistence C. Destination address persistence D. Cookie persistence ### An...

What is the normal form of the accounting equation? - Correct answer-Assets = Liabilities + Owners Equity Define 'Asset' - Correct answer-Anything the company owns and is not mortgaged/ loaned What is an example of an asset? - Correct answer-Paid for stock Define 'liability' - Correct answer-Anything that is owed to other people/ businesses What is an example of a liability? - Correct answer-Bank loan/ mortgage What is another way to write the accounting equation? - Correct answer-Own...

Four financial statements in order income statement, retained earnings statement, balance sheet, statement of cash flows Financial Accounting For internal and external use Management Accounting Only used internally General Accepted Accounting Principles (GAAP) the common set of standards and procedures by which audited financial statements are prepared International Financial Reporting Standards (IFRS) Used by public enterprise Proprietorship A business o...

What is the normal form of the accounting equation? - ANSWER-Assets = Liabilities + Owners Equity Define 'Asset' - ANSWER-Anything the company owns and is not mortgaged/ loaned What is an example of an asset? - ANSWER-Paid for stock Define 'liability' - ANSWER-Anything that is owed to other people/ businesses What is an example of a liability? - ANSWER-Bank loan/ mortgage What is another way to write the accounting equation? - ANSWER-Owner's Equity = Assets - Liabilities D...

Exam B F5 101 100 Questions and Answers with complete solution What does HTTP status code 500 mean? A. Service unavailable B. Internal server error ### C. Gateway timeout D. Bad gateway An administrator wants to insert per-session data in a users browser so that user requests are directed to the same session. Which session persistence method should the administrator use? A. SSL persistence B. Source address persistence C. Destination address persistence D. Cookie persistence ### An...

Accounting can be recorded in one of two methods: ___________________________. - ANSWER-Cash-basis or accrual In ______________________ accounting only transactions involving cash are recorded. - ANSWER-Cash-basis In ______________________ accounting cash is irrelevant, and transactions are recorded when an asset is gained, revenue earned, liability acquired or expense incurred. - ANSWER-Accrual Users of accounting information who rely on cash-basis accounting may have _________________...

Current Radio (in formula sheet) - ANSWER-- current asset / current liabilities - analyses if the company currently have the resources to pay its short-term debt - A high ratio normally suggests good liquidity, but too high a ratio suggests inefficient use of resources. Total Asset Turnover Ratio (in formula sheet) - ANSWER-- Sales (or Operating) Revenue / Average Total Assets - for Average total assets: (Beginning total assets + ending total assets) / 2 - the ratio is an excellent me...

What is the normal form of the accounting equation? Assets = Liabilities + Owners Equity Define 'Asset' Anything the company owns and is not mortgaged/ loaned What is an example of an asset? Paid for stock Define 'liability' Anything that is owed to other people/ businesses What is an example of a liability? Bank loan/ mortgage What is another way to write the accounting equation? Owner's Equity = Assets - Liabilities Define equity What is le...