Acct exam 1 Study guides, Class notes & Summaries
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![ACCT 2311 FINAL CH 1-11 TEST BANK ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS](/docpics/5111910/662b569b04357_5111910_121_171.jpeg)
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ACCT 2311 FINAL CH 1-11 TEST BANK ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS
- Exam (elaborations) • 742 pages • 2024
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ACCT 2311 FINAL CH 1-11 TEST BANK ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ACCT 2311 FINAL CH 1-11 TEST BANK ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS
![ACCOUNTING 1 (ACCT); Exam 1 ~ Chapters 1, 2, 3, 4 COMPLETE VERIFIED GUIDE.](/docpics/4499246/65cc5f1974c8d_4499246_121_171.jpeg)
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ACCOUNTING 1 (ACCT); Exam 1 ~ Chapters 1, 2, 3, 4 COMPLETE VERIFIED GUIDE.
- Exam (elaborations) • 15 pages • 2024
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ACCOUNTING 1 (ACCT); Exam 1 ~ Chapters 1, 2, 3, 4 COMPLETE VERIFIED GUIDE.ACCOUNTING 1 (ACCT); Exam 1 ~ Chapters 1, 2, 3, 4 COMPLETE VERIFIED GUIDE.ACCOUNTING 1 (ACCT); Exam 1 ~ Chapters 1, 2, 3, 4 COMPLETE VERIFIED GUIDE.ACCOUNTING 1 (ACCT); Exam 1 ~ Chapters 1, 2, 3, 4 COMPLETE VERIFIED GUIDE.ACCOUNTING 1 (ACCT); Exam 1 ~ Chapters 1, 2, 3, 4 COMPLETE VERIFIED GUIDE.ACCOUNTING 1 (ACCT); Exam 1 ~ Chapters 1, 2, 3, 4 COMPLETE VERIFIED GUIDE.ACCOUNTING 1 (ACCT); Exam 1 ~ Chapters 1, 2, 3, 4...
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acct exam 1 questions & answers 2023/2024
- Exam (elaborations) • 4 pages • 2023
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acct exam 1 questions & answers 2023/2024 
 
 
primary objective of balance sheet 
1) measure net income of business 
2) report difference between cash inflows and outflows 
3)report financial position of reporting entity 
4)report market value of assets, liabilities, stocholders equity - ANSWER-financial position of reporting entity 
 
following is considered to be an expense on the income statement 
1)accounts payable 
2)notes payable 
3)wages payable 
4)cost of goods sold - ANSWER-cost of goo...
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acct exam 1 questions & answers 2023/2024
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acct exam 1 questions & answers 2023/2024 
 
 
Income statement - ANSWER-revenue-expenses=net income (loss) 
 
-NET INCOME IS NEEDED TO DETERMINE THE ENDING BALANCE IN RETAINED EARNINGS 
 
statement of retained earnings - ANSWER-beginning retained earnings+net income-dividends=end retained earnings 
 
balance sheet - ANSWER-Assets=Liabilities+Stockholders equity 
 
Stockholders equity=common stock+ending retained earnings 
 
statement of cash flows - ANSWER-detailed statement on cash (asset) 
 ...
![Acct 222 Midterm Exam (Ch. 1-5 Assessment) – Questions With Solutions](/docpics/5076167/662698fe9bf65_5076167_121_171.jpeg)
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Acct 222 Midterm Exam (Ch. 1-5 Assessment) – Questions With Solutions
- Exam (elaborations) • 25 pages • 2024
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Acct 222 Midterm Exam (Ch. 1-5 Assessment) – Questions With Solutions
![ACCT Exam 1 Questions & Answers 2023/2024](/docpics/3950379/656b966653d8d_3950379_121_171.jpeg)
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ACCT Exam 1 Questions & Answers 2023/2024
- Exam (elaborations) • 3 pages • 2023
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ACCT Exam 1 Questions & Answers 2023/2024 
 
 
Internal users - ANSWER-Someone who works inside the bussiness. Finance, management, marketing, Human Resources 
 
External users - ANSWER-Banks, shareholders, investors, IRS, Community members (sometimes internal) 
 
Forms of ownership - ANSWER-sole proprietorship ( simple to establish, owner controlled, tax advantages), partnerships(simple to establish, shared control, broader skills and resources, tax advantages), corporation(easier to transfer o...
![ACCOUNTING (ACCT) EXAM 1 COMPLETE RATED A.](/docpics/4499289/65cc60be79b41_4499289_121_171.jpeg)
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ACCOUNTING (ACCT) EXAM 1 COMPLETE RATED A.
- Exam (elaborations) • 12 pages • 2024
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ACCOUNTING (ACCT) EXAM 1 COMPLETE RATED A.ACCOUNTING (ACCT) EXAM 1 COMPLETE RATED A.ACCOUNTING (ACCT) EXAM 1 COMPLETE RATED A.ACCOUNTING (ACCT) EXAM 1 COMPLETE RATED A.ACCOUNTING (ACCT) EXAM 1 COMPLETE RATED A.ACCOUNTING (ACCT) EXAM 1 COMPLETE RATED A.ACCOUNTING (ACCT) EXAM 1 COMPLETE RATED A.ACCOUNTING (ACCT) EXAM 1 COMPLETE RATED A.ACCOUNTING (ACCT) EXAM 1 COMPLETE RATED A.ACCOUNTING (ACCT) EXAM 1 COMPLETE RATED A.ACCOUNTING (ACCT) EXAM 1 COMPLETE RATED A.ACCOUNTING (ACCT) EXAM 1 CO...
![ACCT 3222-3, WILEY, LSU, EXAM 1 QUESTIONS WITH 100% CORRECT ANSWERS 2024](/docpics/4672972/65e76e637293c_4672972_121_171.jpeg)
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ACCT 3222-3, WILEY, LSU, EXAM 1 QUESTIONS WITH 100% CORRECT ANSWERS 2024
- Exam (elaborations) • 69 pages • 2024
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ACCT 3222-3, WILEY, LSU, EXAM 1 QUESTIONS WITH 100% CORRECT ANSWERS 2024
![acct exam 1 questions & answers 2023/2024](/docpics/3950453/656b98bb91441_3950453_121_171.jpeg)
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acct exam 1 questions & answers 2023/2024
- Exam (elaborations) • 3 pages • 2023
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acct exam 1 questions & answers 2023/2024 
 
 
Relevance - ANSWER-can impact a decision maker's decision 
 
Predictive value - ANSWER-Help us predict future cash flows/net income 
 
materiality - ANSWER-omitting or mistaking it can affect decision makers decision 
 
Confirmatory value - ANSWER-Confirm prior expectations 
 
Faithful representation - ANSWER-agreement between measure of description of real world event and how it's reported. information is complete, neutral, and accurate 
 
Compar...
![ACCT 3222-3, WILEY, LSU, EXAM 1 NEWEST 2024 ACTUAL EXAM 270 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+](/docpics/4482464/65c9f72a08816_4482464_121_171.jpeg)
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ACCT 3222-3, WILEY, LSU, EXAM 1 NEWEST 2024 ACTUAL EXAM 270 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+
- Exam (elaborations) • 59 pages • 2024
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ACCT 3222-3, WILEY, LSU, EXAM 1 NEWEST 2024 ACTUAL EXAM 270 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+ 
ACCT 3222-3, WILEY, LSU, EXAM 1 NEWEST 2024 ACTUAL EXAM 270 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+
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