Accounting acct exam 2 Study guides, Class notes & Summaries

ACCT 101 FINAL EXAM Questions With Correct Answers Latest Updated 2024/2025 (Rated) 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 analysis, horizontal analysis, financial reporting B. Horizontal analysis, vertical analysis, ratio analysis C. Trend analysis, financial reporting, ratio ...

ACCT 101 FINAL EXAM Questions and Answers Latest Updated 2024/2025 | Graded. 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 analysis, horizontal analysis, financial reporting B. Horizontal analysis, vertical analysis, ratio analysis C. Trend analysis, financial reporting, ratio analysi...

ACCT 211-Liberty University EXAM 1Importance of Accounting - correct answer Identifying, Recording, Communicating Users of Financial Information - correct answer 1. Internal 2. External Internal Users - correct answer Internal users of accounting information ARE directly involved in managing and operating an organization. External Users - correct answer External users of accounting information are NOT directly involved in running the organization 3 Parts of the Fraud Triangle - corr...

ACCT 211-Liberty University EXAM 1 with verified answersImportance of Accounting - correct answer Identifying, Recording, Communicating Users of Financial Information - correct answer 1. Internal 2. External Internal Users - correct answer Internal users of accounting information ARE directly involved in managing and operating an organization. External Users - correct answer External users of accounting information are NOT directly involved in running the organization 3 Parts of the...

ACCT 2102 UGA, Amanda Farmer, Exam 1 Questions and Answers | Latest Update | 2024/2025 | Already Passed What is the primary purpose of financial accounting? To provide financial information about a business to external users for decision-making. What does a balance sheet report? The balance sheet reports a company’s assets, liabilities, and shareholders’ equity at a specific point in time. What is the equation for the accounting equation? Assets = Liabilities + Shareholders...

ACCT 211-Liberty University EXAM 1 Question and answers rated A+ ACCT 211-Liberty University EXAM 1 Importance of Accounting - correct answer Identifying, Recording, Communicating Users of Financial Information - correct answer 1. Internal 2. External Internal Users - correct answer Internal users of accounting information ARE directly involved in managing and operating an organization. External Users - correct answer External users of accounting information are NOT directly invol...

ACCT 211 EXAM 2 questions with answers graded A+Accounting Cycle - correct answer Recurring steps performed each accounting period, starting with analyzing transactions and continuing through the post-closing trail balance (or reverse entries) Classified Balance Sheet - correct answer Balance sheet that presents assets and liabilities in relevant subgroups, including current and noncurrent classifications Closing Entries - correct answer Entries recorded at the end of each accounting perio...

ACCT 526 Midterm Exam Questions and Answers Latest Updated 2024/2025 (GRADED A+) Costs of completed but unsold products would be found in which account? Select one: a. nished goods inventory  b. raw materials inventory c. cost of goods sold d. work in process inventory e. none of these The correct answer is: nished goods inventory Cost of goods sold: a. represents all costs associated with research, development, and general administration of an organization. b. is the cost of the pa...