ACC 2344 advance acc

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Harding University (Harding)
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16 pages
- ch14
- Harding
- advance acc
- ACC 2344 - Summer 2014
- ch14 Student: _ 1. The Securities and Exchange Commission is responsible for: A. B. C. D. Option A Option B Option C Option D 2. Which regulation created the Securities and Exchange Commission? A. Securities Act of 1933 B. Securities Exchange Act of 1934
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ch14
18 pages
- ch15
- Harding
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- ACC 2344 - Summer 2014
- Chapter 15 Managing for Results TRUE/FALSE (CHAPTER 15) 1. Zero-base budgeting requires the periodic review of all programs, not just new ones. 2. It is difficult for accountants to have a role beyond auditing the financial statements of governments and n
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ch15
18 pages
- ch17
- Harding
- advance acc
- ACC 2344 - Summer 2014
- ch17 Student: _ 1. Which organization has the authority to establish generally accepted accounting principles for state and local government entities? A. The National Council on Governmental Accounting B. The Governmental Accounting Standards Board C. The
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ch17
28 pages
- Solutions Ch 06 6e
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- ACC 2344 - Summer 2014
- Chapter 6 Accounting for Capital Projects and Debt Service Questions for Review and Discussion 1. Budgets, and hence budget comparisons, are not as essential for capital projects and debt service funds because they are often on a project, rather than an a
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Solutions Ch 06 6e
28 pages
- ch06
- Harding
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- ACC 2344 - Summer 2014
- Chapter 6 Accounting for Capital Projects and Debt Service TRUE/FALSE (CHAPTER 6) 1. The resources to service all general long-term debt of governments are typically accounted for in debt service funds. 2. When governments establish capital projects funds
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ch06
17 pages
- ch02
- Harding
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- ACC 2344 - Summer 2014
- ch02 Student: 1. If Push Company owned 51 percent of the outstanding common stock of Shove Company, which reporting method would be appropriate? A. Cost method B. Consolidation C. Equity method D. Merger method 2. Usually, an investment of 20 to 50 percen
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ch02
32 pages
- ch10
- Harding
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- ACC 2344 - Summer 2014
- Chapter 10 Fiduciary Funds and Permanent Funds TRUE/FALSE (CHAPTER 10) 1. Per GASB Statement No. 34, permanent funds are classified as fiduciary funds. 2. In accounting for permanent funds only the income can be spent; the principal must be preserved inta
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ch10
20 pages
- ch17
- Harding
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- ACC 2344 - Summer 2014
- Chapter 17 Federal Government Accounting TRUE/FALSE (CHAPTER 17) 1. If the U.S. Department of the Treasury, GAO, or OMB objects to a FASAB standard, it is returned to the FASAB for reconsideration. 2. Federal operations consist of five fund typesthe gener
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ch17
35 pages
- ch11
- Harding
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- ACC 2344 - Summer 2014
- ch11 Student: 1. If 1 British pound can be exchanged for 180 cents of U.S. currency, what fraction should be used to compute the indirect quotation of the exchange rate expressed in British pounds? A. 1/180 B. 1/.56 C. 1.8/1 D. 1/1.8 2. Suppose the direct
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ch11
41 pages
- ch05
- Harding
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- ACC 2344 - Summer 2014
- ch05 Student: 1. Bristle Corporation acquired 75 percent of Silver Corporation's common stock on December 31, 20X8, for $300,000. The fair value of the noncontrolling interest at that date was determined to be $100,000. Silver's balance sheet immediately
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ch05
30 pages
- Solutions Ch 05 6e
- Harding
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- ACC 2344 - Summer 2014
- Chapter 5 Recognizing Expenditures in Governmental Funds Questions for Review and Discussion 1. Expenditures are decreases in net financial resources whereas expenses are reductions in overall net assets. Expenditures are governmental fund equivalents of
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Solutions Ch 05 6e
17 pages
- ch16
- Harding
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- ACC 2344 - Summer 2014
- Chapter 16 Auditing Governments and Not-for-Profit Organizations TRUE/FALSE (CHAPTER 16) 1. A cognizant agency can be an employee of either a federal agency or an independent accounting firm. 2. The Single Audit Act of 1984 was passed to eliminate the cos
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ch16
23 pages
- Granof_6e_Sols_ch12
- Harding
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- ACC 2344 - Summer 2014
- Chapter 12 Not-for-Profit Organizations Questions for Review and Discussion 1. (a) Resources restricted as to purpose: must be used for research; conferences; acquisition of plant and equipment; (b) Resources restricted as to time: a term endowment the pr
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Granof_6e_Sols_ch12
76 pages
- CHAPTER 6--DEDUCTIONS AND L
- Harding
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- ACC 2344 - Summer 2014
- CHAPTER 6-DEDUCTIONS AND LOSSES: IN GENERAL CHAPTER 6-DEDUCTIONS AND LOSSES: IN GENERAL Student: _ 1. Deductions are allowed unless a specific provision in the tax law provides otherwise. True False 2. Mitch is in the 28% tax bracket. He may receive a dif
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CHAPTER 6--DEDUCTIONS AND L
10 pages
- 6. CHAPTER 8--DEPRECIATION, CO
- Harding
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- ACC 2344 - Summer 2014
- 6. CHAPTER 8 51. Grape Corporation purchased a machine in December of the current year. This was the only asset purchased during the current year. The machine was placed in service in January of the following year. No assets were purchased in the followin
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6. CHAPTER 8--DEPRECIATION, CO
79 pages
- CHAPTER 20--CORPORATIONS AN
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- ACC 2344 - Summer 2014
- CHAPTER 20-CORPORATIONS AND PARTNERSHIPS CHAPTER 20-CORPORATIONS AND PARTNERSHIPS Student: _ 1. In determining whether an entity is to be recognized as a corporation for Federal income tax purposes, classification under state law is not conclusive. True F
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CHAPTER 20--CORPORATIONS AN
53 pages
- CHAPTER 13--TAX CREDITS AND
- Harding
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- ACC 2344 - Summer 2014
- CHAPTER 13-TAX CREDITS AND PAYMENT PROCEDURES CHAPTER 13-TAX CREDITS AND PAYMENT PROCEDURES Student: _ 1. The tax benefit received from a tax credit is never affected by the tax rate of the taxpayer. True False 2. The tax benefits resulting from tax credi
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CHAPTER 13--TAX CREDITS AND
72 pages
- 2. CHAPTER 15--PROPERTY TRANSA
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- ACC 2344 - Summer 2014
- CHAPTER 15-PROPERTY TRANSACTIONS: NONTAXABLE EXCHANGES CHAPTER 15-PROPERTY TRANSACTIONS: NONTAXABLE EXCHANGES Student: _ 1. Gains and losses on nontaxable exchanges are deferred because the tax law recognizes that nontaxable exchanges result in a change i
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2. CHAPTER 15--PROPERTY TRANSA
8 pages
- 3. CHAPTER 16--PROPERTY TRANSA
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- ACC 2344 - Summer 2014
- 3 CHAPTER 16 26. The tax law requires that capital gains and losses be separated from other types of gains and losses. Among the reasons for this treatment are: A. Long-term capital gains may be taxed at a lower rate than ordinary gains. B. Capital losses
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3. CHAPTER 16--PROPERTY TRANSA
36 pages
- 3. CHAPTER 16--PROPERTY TRANSA
- Harding
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- ACC 2344 - Summer 2014
- CHAPTER 16-PROPERTY TRANSACTIONS: CAPITAL GAINS AND LOSSES CHAPTER 16-PROPERTY TRANSACTIONS: CAPITAL GAINS AND LOSSES Student: _ 1. The tax law requires that capital gains and losses be separated from other types of gains and losses because an alternative
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3. CHAPTER 16--PROPERTY TRANSA
78 pages
- CHAPTER 14--PROPERTY TRANSA
- Harding
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- ACC 2344 - Summer 2014
- CHAPTER 14-PROPERTY TRANSACTIONS: DETERMINATION OF GAIN OR LOSS AND BASIS CHAPTER 14-PROPERTY TRANSACTIONS: DETERMINATION OF GAIN OR LOSS AND BASIS CONSIDERATIONS CONSIDERATIONS Student: _ 1. Realized gain or loss is measured by the difference between the
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CHAPTER 14--PROPERTY TRANSA
61 pages
- CHAPTER 5--GROSS INCOME EXC
- Harding
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- ACC 2344 - Summer 2014
- CHAPTER 5-GROSS INCOME: EXCLUSIONS CHAPTER 5-GROSS INCOME: EXCLUSIONS Student: _ 1. For a person who is in the 35% marginal tax bracket, $1,000 of tax-exempt income is equivalent to $1,350 of income that is subject to tax. True False 2. John told his neph
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CHAPTER 5--GROSS INCOME EXC
9 pages
- 5. CHAPTER 10--DEDUCTIONS AND
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- ACC 2344 - Summer 2014
- 5. CHAPTER 10 57. Edna had an accident while competing in a rodeo. She sustained facial injuries that required cosmetic surgery. While having the surgery done to restore her appearance, she had additional surgery done to reshape her chin, which was not in
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5. CHAPTER 10--DEDUCTIONS AND
95 pages
- 4. CHAPTER 7--DEDUCTIONS AND L
- Harding
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- ACC 2344 - Summer 2014
- CHAPTER 7-DEDUCTIONS AND LOSSES: CERTAIN BUSINESS EXPENSES AND CHAPTER 7-DEDUCTIONS AND LOSSES: CERTAIN BUSINESS EXPENSES AND LOSSES LOSSES Student: _ 1. James is in the business of debt collection. He purchased a $20,000 account receivable from Green Cor
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4. CHAPTER 7--DEDUCTIONS AND L
75 pages
- CHAPTER 19--DEFERRED COMPEN
- Harding
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- ACC 2344 - Summer 2014
- CHAPTER 19-DEFERRED COMPENSATION CHAPTER 19-DEFERRED COMPENSATION Student: _ 1. After 2008, income averaging is allowed for Federal income tax purposes. True False 2. Qualified plans have higher startup and administrative costs than nonqualified plans. Tr
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CHAPTER 19--DEFERRED COMPEN
13 pages
- 4. CHAPTER 7--DEDUCTIONS AND L
- Harding
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- ACC 2344 - Summer 2014
- 4. CHAPTER 7 51. Peggy is in the business of factoring accounts receivable. Last year, she purchased a $30,000 account receivable for $25,000. This year, the account was settled for $25,000. How much loss can Peggy deduct and in which year? A. $5,000 for
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4. CHAPTER 7--DEDUCTIONS AND L
56 pages
- CHAPTER 4--GROSS INCOME CON
- Harding
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- ACC 2344 - Summer 2014
- CHAPTER 4-GROSS INCOME: CONCEPTS AND INCLUSIONS CHAPTER 4-GROSS INCOME: CONCEPTS AND INCLUSIONS Student: _ 1. The realization requirement gives an incentive to own assets that have increased in value and to sell assets whose value has decreased. True Fals
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CHAPTER 4--GROSS INCOME CON
34 pages
- CHAPTER 17--PROPERTY TRANSA
- Harding
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- ACC 2344 - Summer 2014
- CHAPTER 17-PROPERTY TRANSACTIONS: SECTION 1231 AND RECAPTURE CHAPTER 17-PROPERTY TRANSACTIONS: SECTION 1231 AND RECAPTURE PROVISIONS PROVISIONS Student: _ 1. Section 1231 applies to the sale or exchange of business properties, but not to personal use acti
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CHAPTER 17--PROPERTY TRANSA
55 pages
- CHAPTER 1--AN INTRODUCTION
- Harding
- advance acc
- ACC 2344 - Summer 2014
- CHAPTER 1-AN INTRODUCTION TO TAXATION AND UNDERSTANDING THE FEDERAL TAX CHAPTER 1-AN INTRODUCTION TO TAXATION AND UNDERSTANDING THE FEDERAL TAX LAW LAW Student: _ 1. The ratification of the Sixteenth Amendment to the U.S. Constitution was necessary to val
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CHAPTER 1--AN INTRODUCTION
65 pages
- CHAPTER 9--DEDUCTIONS EMPLO
- Harding
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- ACC 2344 - Summer 2014
- CHAPTER 9-DEDUCTIONS: EMPLOYEE AND SELF-EMPLOYED-RELATED CHAPTER 9-DEDUCTIONS: EMPLOYEE AND SELF-EMPLOYED-RELATED EXPENSES EXPENSES Student: _ 1. One indicia of independent contractor (rather than employee) status is when the individual performing the ser
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CHAPTER 9--DEDUCTIONS EMPLO

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May 17, 2016
| Would highly recommend.
Pretty easy, overall.

Course Overview:

I thought his course was actually pretty difficult.

Course highlights:

Piece of advice: read the chapters in advance, and know everything like the back of your hand, otherwise be prepared for hellacious exams. His curve really isn't that great…

Hours per week:

0-2 hours

Advice for students:

Tough course, great teacher, very friendly and funny..
- Course Term: Winter 2014