Acct 350 Study guides, Class notes & Summaries

ACCT 350 actual Final exam Davenport University CC13-1 (book/static) What are the five types of tests auditors use to determine whether financial statements are fairly stated? Identify which tests are performed to reduce control risk and which tests are performed to reduce planned detection risk. What are the five types of tests auditors use to determine whether financial statements are fairly stated? Types of tests 1. 2. 3. 4. 5. Identify which tests are performed to reduce cont...

ACCT 350 - Final Exam Review Exam with Questions and Answers Select the true answer. To prevent fraud, the entity may choose to: A. Develop a written code of ethics B. Use background checks when hiring employees C. Prosecute discovered fraud, as an example to other employees D. All of the above are true ANSWER D Building up balances in bank accounts based upon floating checks drawn against similar accounts in other banks is best called: a. Skimming. b. Kiting. c. Money laundering....

Chapter 03 1. Which of the following is/are not true about a proper journal entry? a. An explanation is needed immediately after each debit and immediately after each credit. b. All credits are indented. c. A debit is never indented, even if a liability or owner's equity account is involved. d. All debits are listed before the first credit. e. In a compound entry, the largest amounts are listed first. ANSWER: POINTS: DIFFICULTY: LEARNING OBJECTIVES: NATIONAL STANDARDS: STATE STANDARD...

Continuing Education Requires: - ANSWER10 hours every biennial renewal (by March 1st/odd years) CEU Credit Requirements - ANSWERMax of 3 hrs in merchandising At least 2 hrs preneed At least 3 hrs ethics & NJ L,R,R Course or program on OSHA Excess CEUs cannot be carried over to the next year. T or F - ANSWERTrue Are CEUs required in 1st license renewal period? - ANSWERNope Courses approved by Board for CEUs - ANSWERcollege courses cont. ed. courses correspondence/tutorials sem...

ACCT 101B FINAL REVIEW – KEY ACCT 101B FINAL REVIEW – KEY   ACCT 101B FINAL REVIEW – KEY CH. 17 An example of a cost which would not be assigned to an overhead cost pool is b. freight-out. A variable cost is a cost that c. varies in total in proportion to changes in the level of activity. A cost which remains constant per unit at various levels of activity is a a. variable cost. A company has total fixed costs of $160,000 and a contribution margin ratio of 20%. The...

ACCT 1080 EXAM 3 (ACCT1080) Key Terms & Definitions: • Direct Write-off Method and Allowance Method. Which does GAAP require? • Cash Ratio. What does a higher number indicate? • Maturity Value of a Note is.. • Acid Test Ratio • Days Sales in Receivables • A/R Turnover Ratio SAMPLE PROBLEMS: Chapter 7 Accounting Information Systems Learning Objective 7-1 An accounting information system (AIS) collects, records, stores, and processes accounting data to produce info...

TCRN Exam 320 Questions with Verified Answers Most common mechanism of injury - CORRECT ANSWER Falls Forms of energy - CORRECT ANSWER -mechanical -gravitational -thermal -chemical Types of trauma - CORRECT ANSWER -blunt -penetrating -burn -other Blunt trauma - CORRECT ANSWER accounts most injuries sustained frontal impact -aortic & cardiac injury, rib fxs, liver & spleen -dash board posterior hip fx/dislocation, femur, knee injury lateral impact -head/facial, c spine,...

ACCT 1080 EXAM 3 ACCT1080 VERIFIED Q & A 2022-2023 ACCT 1080 EXAM 3 (ACCT1080) Key Terms & Definitions: • Direct Write-off Method and Allowance Method. Which does GAAP require? • Cash Ratio. What does a higher number indicate? • Maturity Value of a Note is.. • Acid Test Ratio • Days Sales in Receivables • A/R Turnover Ratio SAMPLE PROBLEMS: Chapter 7 Accounting Information Systems Learning Objective 7-1 An accounting information system (AIS) collect...

ACCT 350 actual Final exam Davenport University

ACCT 3332 Final Exam 2022 with complete solution P. Chang & Co. exchanged land and $9,000 cash for equipment. The book value and the fair value of the land were $106,000 and $90,000, respectively. Chang would record equipment at and record a gain/(loss) of: Equipment Gain (loss) $99,000 $(16,000) $90,000 $(25,000) $108,000 $16,000 $106,000 $(9,000) -Answer- $99,000 $(16,000) Kross Co. exchanged land and $18,000 cash for equipment. The book value and the fair value of the land were $...