Review Sheet for Final Exam (1)

Review Sheet for Final Exam (1) - ACCT 225 FALL 2008 REVIEW...

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Unformatted text preview: ACCT 225 FALL 2008 REVIEW SHEET FOR FINAL EXAM The Final exam will consist of 50 multiple-choice questions. There will be 33 questions from Chapter 10-Appendix B and 17 Questions from Chapters 1- 9. Some questions will be definitional /conceptual in nature and others will require you to perform a calculation in order to answer the question. Please remember that this final is very challenging and will take a lot of preparation to do well on. There is a lot of memorization for the Ratios in Chapter 13, please do not overlook them. Topics that you should study include, but are not limited to , the following: Chapters 1-5 Basic Accounting Equation Be able to identify which classification an account belongs to (Asset, Liability, Equity or Contra Account) Four Basic Financial Statements (purpose, structure and contents) Relations among financial statements (How the tie together) Accounting Concepts/ Assumptions Separate Entity Assumption Unit of Measure Assumption Debit/Credit Framework (ie which is the natural balance of an account) T account format, posting on ledger accounts Classified Balance Sheet Cost Principle and Conservatism Principle Time Period Assumption Revenue Principle Matching Principle Trial Balance Unadjusted Trial Balance Adjusted Trial Balance Preparing Financial Statements from Adjusted Trial Balance Closing Entries- Closing Income and Expense Accounts...
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This note was uploaded on 06/06/2011 for the course ACCT 225 taught by Professor Canace during the Spring '08 term at South Carolina.

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Review Sheet for Final Exam (1) - ACCT 225 FALL 2008 REVIEW...

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