Name: ________________________ Class: ___________________ Date: __________ Quiz 2 1) Cost-volume-profit analysis is used primarily by management: A) as a planning tool B) for control purposes C) to prepare external financial statements D) to attain accurate financial results Answer: A Diff: 1 Terms: cost-volume-profit (CVP) Objective: 1 AACSB: Communication 2) One of the first steps to take when using CVP analysis to help make decisions is: A) finding out where the total costs line intersects
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Greetings Inc. has operated for many years as a nationally recognized retailer of greeting cards and small gift items. It has 1‚500 stores throughout the United States located in high-traffic malls. As the stock price of many other companies soared‚ Greetings’ stock price remained flat. As a result of a heated 2007 shareholders’ meeting‚ the president of Greetings‚ Robert Burns‚ came under pressure from shareholders to grow Greetings’ stock value. As a consequence of this pressure‚ in 2008 Mr
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ACC 444 Exam 1 Guide Summary of Questions (approximate): Topic # Multiple Choice Questions (2 pts each) Total Points Business Process Overview 9 Computer Fraud & Abuse 16 Internal Control Systems 25 Total # questions 50 100 Study Guide While there couldbe questions from other topics discussed in class‚ themain emphasis will be on the following subject matter: Business Process Overview The “transaction cycles” approach The data processing model Computer
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Name ________________ Section time _______________ ACC 321 – Quiz 1 PART I: Multiple choice‚ 3 points each. (Transfer your answers to the proper question on the answer sheet and fill in only one circle per question.) 1. Which of the following is NOT a major challenge facing the accounting profession? a. Non-GAAP earnings. b. Fair value measurement. c. Accounting for fixed assets. d. Forward-looking information. 2. The objective of financial reporting places most
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Course Prefix/Number: Course Title: Lecture Hours/Week: Lab Hours/Week: Credit Hours/Semester: ACC 240 Computerized Accounting 3.0 0.0 3.0 Distance Learning Attendance/VA Statement Textbook Information COURSE DESCRIPTION This course is a study of using the computer to design and implement various accounting functions‚ including financial transactions‚ records‚ statements‚ reports and documents. COURSE PURPOSE The purpose of this course is to provide the student with a realistic
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Guillermo Furniture‚ a company that manufactures midgrade and high-end sofas‚ has just hired you as an accountant. The owner‚ Guillermo Navallez‚ has assigned you the tasks of determining which decisions provide the greatest returns. Resources: Guillermo Furniture Scenario and Data Sheets Read the Guillermo Furniture Scenario and review the Guillermo Furniture Data Sheets on the student website. Enter your name in cell A3 of the Income Information tab in the Guillermo Furniture Data Sheets
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Accounting 306 Exam 1 Notes Full Disclosure Principle – Calls for financial reporting of any financial facts significant enough to influence the judgment of an informed reader. Illustration 24-1: Financial Statements – Balance Sheet‚ Income Statement‚ Statement of Cash flows‚ and statement of changes in stockholders’ equity. Notes to financial statements – Accounting policies‚ contingencies‚ inventory methods‚ number of shares of stock outstanding‚ alternative measures. Supplementary Information
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1. Assignment 1A (10 points) (Question for Review 14‚ page 1-23 of your textbook Question: Summarize the procedure followed by the Human Resources Department in hiring new employees. The procedure that may be followed by the Human Resources Department in hiring new employees is: a. Receive request for new employee. b. Examine applications. c. Interview applicants. d. Administer tests. e. Check references. f. Select and notify successful applicant. g. Send information to Payroll Department
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Accounting software is very important when it comes to a company running smoothly. The Enterprise Resource planning software is for the largest organizations with sales exceeding $500 million and more than 500 employees. There are an estimated 17‚000 companies that fit this profile. A software system needs to meet the needs of the company and may need certain systems to benefit them the best. Companies may need to keep up with employees work hours‚ sales commission‚ and/or payroll. The ERP is for
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Jasmine Travis BUS3061 Professor Jerry Thomas July 17‚ 2014 1. Question 1: Proficient-level: There are several important functions performed in an organization‚ among which accounting is one of them. Define the accounting function and discuss how it differs from double-entry bookkeeping. Accountants analyze and interpret financial information‚ prepare financial statements‚ conduct audits‚ design accounting systems‚ prepare special business and financial studies‚ prepare forecasts and budgets
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