Accounting 201 Quiz 2
1. What are the two broad categories of users of accounting information? Give two
examples of users in each category.
Internal users: CEO, CFO, sales manager, inventory manager,
and so on
Accounting 201 Quiz 3
1. Classify each of the following as a current asset, long-term asset, current liability,
long-term liability, or equity:
a. Common stock
b. Finished goods inventory
c. Wages pa
Accounting 201 Quiz 1
1. You sell $50,000 in merchandise, receiving $30,000 in cash with the remaining
$20,000 due in 30 days. Write the journal entry to record the sale.