False/Multiple Guess/Fill in the blank Identify the choice that best completes the statement or answers the question. Carefully and completely fill out this test with the answer that best fits the question. For each answer‚ clearly circle your choice from the options provided (a‚ b‚ c‚ d‚ etc.). Dont make me guess‚ I wont award credit if it isnt obvious. 1. What type of data is found in the general ledger a.a chronological record of all transactionsb.the balance of each account in the chart of accountsc
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Accounting today is used by most people in the world in one way or another. Accounting is a system for identifying‚ reading‚ measuring‚ and interpreting the results of economic activities. Accounting is not only used in the business world but rather it is used by everyone in all types of situations. For example‚ trying to get a bank loan or trying to apply for a credit card the applicant must provide the company with their personal accounting information to get approved. Personal accounting information
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QUESTION 1 1. Annie’s Attic has the following account balances for the dates given: Cash‚ Sept 1 $40‚000 Cash‚ Sept 30 60‚000 Accounts receivable‚ Sept 1 10‚000 Accounts receivable‚ Sept 30 14‚000 Owner’s equity‚ Sept 1 ? Owner’s equity‚ Sept 30 ? Supplies‚ Sept 1 30‚000 Supplies Sept 30 24‚000 Accounts payable‚ Sept 1 6‚000 Accounts payable‚ Sept 30 ? Net income for September 20‚000 What would owner’s equity be on September 1? 5 points QUESTION 2 1. Annie’s Attic has the following account
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feedback. This process is constantly used by everyone at all times. Communication is vital to the community‚ society‚ and the world. Public speaking is one of the more difficult forms of communication. It is a complex process that can be either beneficial or embarrassing. The exchange of ideas is highly dependent on your perception. Perception is an attitude or understanding based on what is observed or thought. Perception is known as the support beam of communication. It all depends on how you perceive
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A common misconception is that our gender and our sex are the same thing however our gender refers to the socially and culturally constructed differences between a male or female and fashion is a means to reject‚ alter‚ express‚ define or confirm ones gender. Sexuality is a big part of gender‚ people often assume if you are a female you are automatically feminine‚ this isn’t the case. Some males identify as women and therefore they dress and behave as what society identifies as a woman‚ however many
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1. Several types of entities provide financial information to a variety of external users. Our primary focus in this book is on the financial information that profit-oriented companies provide to present and potential investors and to creditors. These profit-oriented companies also provide financial information that is used by financial intermediaries such as financial analysts‚ stockbrokers‚ mutual fund managers‚ and credit rating agencies. Not-for-profit organizations also provide financial
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Vocabulary Quiz Name _______________ Chapter 1 1. An accounting principle that states that assets should be recorded at their cost. 2. Debts and obligations of a business. 3. Resources owned by a business. 4. The amount by which expenses exceed revenues. 5. An association of two or more persons to carry on as co-owners of a business for
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measures that an entity adopts to: * safeguard assets * encourage adherence to company policies * promote operational efficiency * ensure accurate and reliable accounting records. It is either an administrative control or an accounting control Characteristics of an effective internal control system include: * Competent‚ reliable‚ and ethical personnel * Assignment of responsibilities * Proper authorisation * Separation of duties Internal Controls for e-Commerce
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Gravity Lab Objective: The objective of this lab assignment is todetermine if objects with different mass fall at the same rate or vatying rate in the presence of ar and in a vacuum. Problem: Whateffect does Earth’s gravitational force have on objects of different masses? Hypothesis: If the sand paper falls at the same rate as the paper towel than it will end in the ground first. Objective: The objective of this lab assignment is to determine if objects with different masses fall at the same
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ACCOUNTING THEORIES 1. What is the difference between a positive theory of accounting and a normative theory of accounting? 2. What do we mean when we say that ‘theories are abstractions of reality’? Do you agree that theories of accounting are necessarily abstractions of reality? 3. Identify and explain 5 different criteria we might use to establish a theory as being suitable for use in our research. 4. Is the study of financial accounting theory a waste of time for accounting
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