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AC 499 AC/499 AC499 Unit 5 MidTerm (Kaplan)

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$29.99


Product Description

AC 499 Unit 5 MidTerm (Kaplan)
  1. An acceleration in the collection of receivables will tend to cause the accounts receivable turnover to :
  2. Accounts
  3. Which of the following is true regarding normal balances of accounts?
  4. The classified Balance Sheet will subsection the assets section as follows :
  5. Adjusting entries are:
  6. During the end-of-period processing which of the following best describes the logical order of this process :
  7. Unearned Fees appear on the :
  8. Which of the following account groups are all considered nominal accounts?
  9. The type of account and normal balance of Accumulated Depreciation is:
  10. Which of the following is an example of accrued revenue?
  11. Fees receivable would appear on the balance sheet as a(n) :
  12. Short-term liabilities are those liabilities that :
  13. Which of the following is an example of an accrued expense?
  14. The gross increases in owner's equity attributable to business activities are called :
  15. Which of the following entries records the receipt of a utility bill from the water company?
  16. Short-term creditors are typically most interested in assessing:
  17. An analysis in which all the components of an income statement are expressed as a percentage of net sales is called :
  18. The post-closing trial balance differs from the adjusted trial balance in that it :
  19. The matching concept:
  20. Which of the following would appear as an extraordinary item on the income statement?
  21. Which of the following would be subtracted from the balance per bank on a bank reconciliation?
  22. The term cash includes :
  23. The objectives of internal control are to :
  24. The amount of deposits in transit is included on the bank reconciliation as a(n) :
  25. The amount of deposits in transit is included on the bank reconciliation as a(n) :
  26. When a firm uses internal auditors, it is adhering to which one of the following internal control elements?
  27. Meredith Company gathered the following reconciling information in preparing its May bank reconciliation:

     

     

    Cash balance per books, 5/31

    $4,500

     

     

    Deposits in transit

    375

     

     

    Notes receivable and interest collected by bank

    650

     

     

    Bank charge for check printing

    40

     

     

    Outstanding checks

    2,400

     

     

    NSF check

    140


    The adjusted cash balance per books on May 31 is:
  28. The debit balance in Cash Short and Over at the end of an accounting period is reported as :
  29. The notification accompanying a check that indicates the specific invoice being paid is called a :
  30. A check drawn by a company for $340 in payment of a liability was recorded in the journal as $430. What entry is required in the company's accounts?

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