Final - 1 Acompanyrepaystheir$2millionbankloan.Thisisanexampleofa(n A B C D 2 investingactivity operatingactivity financingactivity Help

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Final Exam Review Questions Response Pads – December 1st 1 A company repays their $2 million bank loan.  This is an example of a(n): A investing activity B operating activity C financing activity D Help! 2 A company expects to sell 22,000 units in the first quarter of 2010.  Unit sales are expected to increase by 10% per quarter.  Assuming the company wants to maintain an inventory equal to 5% of the expected sales in the next quarter, how many units should they produce in quarter 3? A 26,510 B 26,754 C 28,085 D Help!!!! 3 A company purchases $400 of supplies on credit.  They prepare a journal entry that debits "Supplies Expense" $400 and credits "Accounts Payable" $400. What is the effect of this entry on the company's financial statements? A Liabilities and net income are overstated. B
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This note was uploaded on 01/31/2011 for the course ACCT 2102 taught by Professor Clark during the Spring '10 term at Georgia State University, Atlanta.

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Final - 1 Acompanyrepaystheir$2millionbankloan.Thisisanexampleofa(n A B C D 2 investingactivity operatingactivity financingactivity Help

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