ArticleACC290 – Principles of Accounting I – Final Exam Study Guide1.txt

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ACC290Ideas of Accounting IFinal Exam Study Guideline1 . Which financial statement is used to determine cash generated fromfunctions?A. Salary statementW. Statement of operationsC. Statement of cash flowsDeb. Retained benefit statement
installment payments on your In terms of string, in what buy must the fourstandard financial arguments be prepared?
3 or more. In classifying transactions, which usually of the subsequent is truein regards to assets?
5. An increase in a cost account has to be
6. Inside the first month of experditions, the total within the debit posts tothe funds account amounted to $1, 400 plus the total within the credit posts tothe funds account amounted to $600. The cash profile has aA. $600 credit rating balanceF. $1, 300 debit harmonyC. $800 debit harmonyD. hundreds of dollars credit harmony
7. Which will ledger has control accounts?
Def. General earnings and price ledgermain. Smith is mostly a customer of ABC Business. Smith commonly purchases goodsfrom LETER on profile. Which journal would LETER use to record the details ofSmiths profile?
9. Beneath the cash foundation accountingN. a assurance to give is sufficient to realize revenue
twelve. Under the accrual basis of accountingA. money must be received before revenue is acknowledgedB. net income is worked out by complementing cash outflows against money inflowsC. events that change a companys financial statements are recognized in theperiod they occur rather than in the period in which the cash is paid orreceivedD. the ledger accounts must be adjusted to reflect a cash basis of accountingbefore financial statements are prepared under generally accepted accountingprinciples

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Term
One
Professor
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Tags
Balance Sheet, Income Statement, Revenue, Generally Accepted Accounting Principles, Double entry bookkeeping system

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