Acct 2101 - Study guides, Class notes & Summaries

Notes to describe chapter 1 of principles of accounting 1. This chapter includes the fundamental basics of accounting.

Notes include chapter 1 of principles of accounting which are fundamental topics of the class.

ACCT 2101 - Reading Assessment Quizzes

Acct 2101 Top Exam Questions and answers, 100% Accurate. Graded A+ Accounting area focused on providing information to assist business owner and managers in making business decisions Managerial Accounting standards of conduct for judging right from wrong, honest from dishonest, and fair from unfair Ethics focuses on three factors that affect the accounting reporting environment – opportunity, incentives, and character Sarbanes Oxley Act of 2002 costs that can be traced to the objec...

Acct 2101, Top Exam Questions and answers, 100% Accurate. Rated A+ Accounting area focused on providing information to assist business owner and managers in making business decisions--Managerial Accounting standards of conduct for judging right from wrong, honest from dishonest, and fair from unfair--Ethics focuses on three factors that affect the accounting reporting environment – opportunity, incentives, and character--Sarbanes Oxley Act of 2002 costs that can be traced to the ob...

ACCT 2101

Acct 2101 Chapter 11, Top Questions and answers, rated A+. VERIFIED. payment for the use of someone else's money--interest (i) two points about interest--stated as a per annum amount. Yearly interest original amount borrowed or invested--principal (p) the number of years (periods) that the principal is borrowed or invested--time computed on the principal only--simple interest Simple interest formula--principal x interest rate x time computed on the principal and on any i...

Acct 2101 Chapter 13 Top Exam Questions & Answers, Graded A+ Three things we need to know for measuring and evaluating financial performance the general categories to evaluate the particular elements within each category how to measure performance Benchmarks can include.. the company's prior year results and the results of close competitors or the average for the industry help when interpreting a company's ratios benchmarks The goal of managerial accounting is to... provide infor...

Acct 2101 Exam 2, Top Exam Question and answers, 100% Accurate, rated A+ The term "recognition" means to report an economic event in the financial statements--TRUE The term "accrual" describes an earnings event that is recognized before cash is paid or received--TRUE The cost of a resource that will produce revenue in the future is an asset.--TRUE Adjusting entries never affect a business's cash account--TRUE An adjusting entry to accrue salary expense is a claims exchange tr...

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. Which of the following is not a principal type of business activity? a. Operating b. Investing c. Financing d. Delivering 4. Borrowing money is an example of...