Exam 2 - Accounting 200 Review - Exam 2 40 multiple choice...

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Accounting 200 Review - Exam 2 40 multiple choice questions Carryover material Accounting Equation (increase/decrease questions) Debits/Credit Rules and normal balances Financial statements: Multi Step Income Statement, Statement of Retained Earnings and Balance Sheet and know how each is composed and how they are affected by journal entries Application of Revenue Recognition, Matching Principle, Cost Principle Chapter 6 Cost Flow Assumptions (FIFO, LIFO, Weighted average methods) Use each method to calculate Ending Inventory and/or Cost of Goods Sold Impact of method on financial statements Inventory Turnover Ratio and Average Days in Inventory Lower of Cost or Market (LCM) Inventory Errors – impact on statements Chapter 7 Safeguarding assets/Internal control Principles Use of bank bank reconciliation (refers to both sides of reconciliation) related journal entries for book side of reconciliation Cash Management
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This test prep was uploaded on 04/07/2008 for the course ACCT 200 taught by Professor Cohen during the Spring '07 term at University of Arizona- Tucson.

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Exam 2 - Accounting 200 Review - Exam 2 40 multiple choice...

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