ArticleACC290 – Principles of Accounting I – Final Exam Study Guide5.txt

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ACC290Key points of Accounting I ~ Final Examination Study Information1 . Which usually financial declaration is used to determine cash produced fromsurgical procedures?A. Profits statementN. Statement of operationsC. Statement of cash flowsG. Retained cash flow statement
2 . In terms of pattern, in what purchase must the four fundamental financialstatements be prepared?
N. Income assertion, capital assertion, balance sheet, and statement of moneyflowsfour. In classifying transactions, which in turn of the next is true in regardsto assets?
4. An increase in a cost account should be
per promote, which of this following is definitely the correct newspaper entry?Money | $250 | |Paid-in Capital, Excess of Optimal | | $400 |Common Share | | $100 |
6. Inside the first month of operations, the total of the debit entries to thecash account amounted to $1, 400 and the total of the credit items to the moneyaccount amounted to $600. The cash consideration has a
7. Which ledger contains control accounts?
Deb. General income and charge ledgeralmost 8. Smith can be described as customer of ABC Firm. Smith commonlypurchases merchandise from DASAR on accounts. Which ledger would DASAR use tokeep an eye on the details of Smiths accounts?
9. Beneath the cash foundation accountingA. revenue is certainly recognized when ever services happen to be performedUdemrket. expenses happen to be matched with all the revenue that is producedC. cash must be received before revenue is usually recognizedDeb. a guarantee to spend is sufficient to recognize revenue

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Term
One
Professor
N/A
Tags
Balance Sheet, Income Statement, Generally Accepted Accounting Principles

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