reviewtest1 - Recognize revenue and expense Accruals how...

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Test #1 review for 2100 – Fall 2008 Review all quizzes What is financial and management accounting Recognize accounts: On income statement On balance sheet On owners equity statement Common stock Cash flow by Investing, Financing and operating activities (recognize and calculate) Calculate Net income or loss Balance the balance sheet Accounting equation = how it works with economic transactions
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Unformatted text preview: Recognize revenue and expense Accruals- how they work Deferrals – how they work Fraud Price earnings ratio Return on assets Return on equity Unearned revenue vs earned revenue Prepaid assets Permanent and temporary accounts Dividends Statement of changes in equity Which accounts are closed at the end of the accounting period Matching concept Types of audits...
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