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study guide - 75% MC problems on ALICE, Homework, MC off of...

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75% MC problems on ALICE, Homework, MC off of the computer---not verbatim. Chapter 1 Terms What s accounting and what purpose does it serve Return on investment.//////////return of investment Advantages and disadvantages of the corporate form of business Financial versus managerial accounting Stakeholders. Page 41. #5 Return ON Investment==250 Return of Investment== 2000 Chapter 2 - terms - accounting equation o 3 categories of accounts - 3 types of business activities - how transactions of each business activity type impact the accounting equation o primarily cash transaction - Basic development of an income statement, balance sheet, and statement of cash flows (direct method) o Proper heading including proper date line - ROA #9 p 79 #10 Chapter 3 - Terms/new accounts - Accrual accounting entries o Revenue recognition principle/matching principle o Pay special attention to the entries for receipt/payment of cash relating to AP/AR
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o Adjusting entries o Accounting cycle o Closing entries o Entry for withdrawl of cash by owners
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This test prep was uploaded on 04/16/2008 for the course AC 210 taught by Professor All during the Summer '08 term at Alabama.

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study guide - 75% MC problems on ALICE, Homework, MC off of...

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