Acc exam 2 2023 - Study guides, Class notes & Summaries

Which of the following is true regarding the use of special revenue funds? - ANSWER Special Revenue Funds may only be used when a substantial portion of the resources are provided by restricted or committed revenue sources. Regarding interfund transactions, which of the following is not correct? - ANSWER Interfund transactions must be repaid The journal entry to record the budget of a special revenue fund would include - ANSWER a debit to estimated revenue control The ...

_____ are defined as distributions of a company's earnings to its stockholders. a. Earnings before interest and taxes b. Surpluses c. Dividends d. Retained earnings - ANSWER C.) Jaden Inc. borrows $15,000 by signing a note payable with a bank. Which of the following is true about the effect of this transaction on Jaden's financial statements? a. There is no effect on the statement of cash flows. b. There is a change in stockholders' equity. c. There is no effect on the income statem...

Biomedical Ethics Final Exam Review Questions & Answers 2023/2024 According to Carl Cohen, what are the two reasons usually given to criticize the use of animals in biomedical research? - ANSWER-1. violates the rights of animals 2. imposes avoidable suffering on sentient creatures What is a right (according to Cohen)? - ANSWER-a claim or potential claim that one party may exercise against another. Rooted in law, morality, or both In what specific way does Cohen understand human beings...

Under revenue recognition principle service-type businesses recognize revenue: - ANSWER When the service is performed. A company purchased office supplies costing $4500 and debited Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $810 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be: - ANSWER debit Supplies Expense, $3690; credit Supplies, $3690. $4500-$810=$3690 (Supp...

ACC 4302 Exam 2 Questions and Answers With Rationale 2022/2023. T/F 1. In general, if a shareholder’s ownership interest is not diminished as a result of a stock redemption, the Code will treat the transaction as a sale or exchange. a. True b. False ANSWER: False RATIONALE: If a shareholder’s ownership interest is not diminished as a result of a stock redemption, the Code generally will treat the transaction as a dividend distribution. 2. A shareholder’s basis in property acquired...

_____ are defined as distributions of a company's earnings to its stockholders. a. Earnings before interest and taxes b. Surpluses c. Dividends d. Retained earnings - ANSWER C.) Jaden Inc. borrows $15,000 by signing a note payable with a bank. Which of the following is true about the effect of this transaction on Jaden's financial statements? a. There is no effect on the statement of cash flows. b. There is a change in stockholders' equity. c. There is no effect on the income st...

BCACP REVIEW 2023 UPDATED EXAM QUESTIONS AND ANSWERS What is the cutoff for diagnosis of COPD? - ANSWER- FEV1/FVC < 0.7 What is the criteria for GOLD Stage 1? - ANSWER- FEV1 (predicted) >80 What is the criteria for GOLD Stage 2? - ANSWER- FEV1 (predicted) 50-80 What is the criteria for GOLD Stage 3? - ANSWER- FEV1 (predicted) 30-50 What is the criteria for GOLD Stage 4? - ANSWER- FEV1 (predicted) <30 What is used as classification of COPD Class A? (answer is mMRC/CAT/exacerb...

2023 NR 601 MIDTERM EXAM – NGN QUESTIONS WITH 100% VERIFIED ANSWERS (GRADED A) (CHAMBERLAIN COLLEGE OF NURSING) 1. The percentage of the FVC expired in one second is: a. FEV1/FVC ratio 2. The aging process causes what normal physiological changes in the heart? a. The heart valve thickens and becomes rigid, secondary to fibrosis and sclerosis. 3. A 55yo Caucasian male follows up after referral to cardiologist. He thinks his med is causing a cough and sometimes he has difficulty breath...

ACC 4302 Exam 2 Fall 2020 Answers 1 (Revised 2023) 100% Correct Answers. MC 1. Ula purchased stock in Purple, Inc., 6 years ago for $150,000. Purple has assets with a value of $225,000 ($175,000 basis) and liabilities of $60,000. Purple transfers $200,000 of assets and all of its liabilities to White Corporation in exchange for White common stock. Purple distributes the White stock and its $25,000 remaining asset (cash) to Ula in exchange for all of her Purple stock. Purple then liquidates....