• ACC 290 Final Exam

    ACC 290 Final Exam

      1) Which financial statement is used to determine cash generated from operations? A. Income statement B. Statement of operations C. Statement of cash flows D. Retained earnings statement   2) In terms of sequence, in what order...

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  • ACC 291 Final Exam

    ACC 291 Final Exam

      1) Hahn Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are $300,000 and credit sales are $1,200,000. Management estimates that 1% is the sales percentage to use. What adjusting entry will...

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  • ACC 300 Final Exam

    ACC 300 Final Exam

         1.  Which of the following is the most appropriate and modern definition of accounting?   A) The information system that identifies, records, and communicates the economic events of an...

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  • ACC 349 Final Exam

    ACC 349 Final Exam

      1) What is the best way to handle manufacturing overhead costs in order to get the most timely job cost information?   A. The company should add actual manufacturing overhead costs to jobs as soon as the overhead costs are incurred. B...

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  • ACC 400 Final Exam

    ACC 400 Final Exam

    1.  Zelma Company's last financial statements provided the following ratios: Current ratio  3:2 Quick ratio  1:2 Accounts receivable turnover 9.0 times Inventory turnover   8.0 times Net income percentage  12.5% Return on...

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  • ACC 421 Final Exam

    ACC 421 Final Exam

      1) An accrued expense can best be described as an amount   A.   not paid and currently matched with earnings. B.   not paid and not currently matched with earnings. C.   paid and currently matched with...

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  • ACC 422 Final Exam

    ACC 422 Final Exam

      1) A cash equivalent is a short-term, highly liquid investment that is readily convertible into known amounts of cash and A. has a current market value that is greater than its original cost. B. bears an interest rate that is at least equal to...

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  • ACC 423 Final Exam

    ACC 423 Final Exam

      1) The statement of cash flows is used for _____.   A.   showing the relationship of net income to changes in current assets B.   determining a company’s acceptable level of debt financing C.  ...

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  • ACC 460 Final Exam

    ACC 460 Final Exam

    1) Determining whether amounts are in conformity with generally accepted accounting principles addresses the proper measurement of assets, liabilities, revenues, and expenses, which includes all of the following EXCEPT the     A. ...

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  • ACC 544 Final Exam

    ACC 544 Final Exam

    1) Which is NOT one of the AICPA’s Code of Professional Conduct principles?    A.   The public interest   B.   Integrity   C.   Quality control   D.   Scope and nature of...

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  • ACC 561 Final Exam

    ACC 561 Final Exam

      1) The statement of cash flows is used for _____.   A.   showing the relationship of net income to changes in current assets B.   determining a company’s acceptable level of debt financing C.  ...

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