ACC 300 Final Exam Copy this link to your browser to download: http://www.finalexamguide.com/ACC-300-Final-Exam-2-151.htm The response to each question or statement is either True or False. 1. A business organized as a separate legal entity owned by stockholders is a partnership. 2. External users of accounting information are managers who plan‚ organize‚ and run a business. 3. Two primary external users of accounting information are investors and creditors. 4. Financing activities
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These are electronic‚ and can be accessed from www.aicpa.org. See link to Professional Resources‚ Accounting and Auditing. For X- reference‚ see back 3 pages of Text 1. 4. Gleim Support Materials (Must purchase one of the Three: a. Practice Questions and Explanations ($36+shipping): https://www.gleim.com/products/productdetails.php/EQE+AUD+BS-_-Auditing--Systems-EQE-Book--Test b. Gleim CPA Auditing & Attestation Book/Test Prep Online ($65+shipping) https://www.gleim.com/?promoID=BAY-ACC4330
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This document of ACC 490 Final Exam shows the solutions to the following problems: 1. Within the generally accepted auditing standards‚ the general standards relate primarily to 2. The essence of the due care? standards is that the auditor should not be quilty of 3) Gross negligence can best be defined as 4) Section 18 liability is relatively narrow in scope because it relates only to a false or misleading statement in documents "filed" with the 5) For a particular assertion
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Week One Content Outline: University of Phoenix Tools and Basic Concepts of Accounting OBJECTIVE: Use the tools available to University of Phoenix graduate students. Resource: University of Phoenix student Web site: https://ecampus.phoenix.edu Content University Library Center for Writing Excellence Student Web site OBJECTIVE: Identify the hierarchy of sources for generally accepted accounting principles. Resource: Ch. 1 of Intermediate Accounting Content Financial accounting
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Recording General Fund Operating Budget and Operating Transactions. The Town of Bedford Falls approved a General Fund operating budget for the fiscal year ending June 30‚ 2011. The budget provides for estimated revenues of $2‚700‚000 as follows: property taxes‚ $1‚900‚000; licenses and permits‚ $350‚000; fines and forfeits‚ $250‚000; and intergovernmental (state grants)‚ $200‚000. The budget approved appropriations of $2‚650‚000 as follows: General Government‚ $500‚000; Public Safety‚ $1‚600‚000;
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Week Two Exercise Assignment Revenue and Expenses 1. Recognition of concepts. Jim Armstrong operates a small company that books entertainers for theaters‚ parties‚ conventions‚ and so forth. The company’s fiscal year ends on June 30. Consider the following items and classify each as either (1) prepaid expense‚ (2) unearned revenue‚ (3) accrued expense‚ (4) accrued revenue‚ or (5) none of the foregoing. a. Interest owed on the company’s bank loan‚ to be paid in early July Prepaid expense
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ACC 300 Final Exam Copy this link to your browser to download: http://www.finalexamguide.com/ACC-300-Final-Exam-1-200.htm 1. Which of the following is not an asset: 2. Amy Co. acquired $500 worth of supplies on credit. Which of the following journal entries would be recorded? 3. Baker Company earned $10‚000 revenue for services provided. Which of the following is correct? 4. Candy Company collected $5‚000 from a customer on account. What journal entry will Candy Company record
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This paperwork - ACC 422 Week 3 Discussion Questions - consists of: DQ 1: What is the purpose of depreciation? Does the book value of a fixed asset (cost minus accumulated depreciation) communicate to a user what the asset is worth? Explain why or why not. Should the financial statements reflect the value of fixed assets? Explain why or why not. DQ 2: What is an intangible asset? Should all intangible assets be subject to amortization? Explain why or why not. Why are some
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Accounting Equations Paper ACC/300 Nakisha Susberry University of Phoenix Student 4/20/2013 The accounting equation is a formula that represents the relationship between the assets‚ liabilities‚ and owner ’s equity of a small business. Businesses use this to basically show what it owns what it owes and what its investors are investing. In order to understand these concepts it is important to have some knowledge of what is meant by each of the three basic components mentioned. “Assets
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Financial Statements ACC/290 September 14‚ 2012 Financial Statements This written essay will discuss the four basic financial statements used in accounting. It will describe the purpose of the four financial statements. How these statements would be useful to internal users‚ such as managers‚ and employees. How the external users‚ such as investors‚ and creditors would find these statements useful. Four Basic Financial Statements The four basic financial statements used in accounting
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