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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Individual Assignment: Week 4 QNT 561 November 1‚ 2010 Lee Chang Question 5 In the following situations‚ decide whether you would use a personal interview‚ telephone survey‚ or self-administered questionnaire. Give your reasons. a) A survey of the residents of a new subdivision on why they happened to select that area in which to live. You also wish to secure some information about what they like and do not like about life in the subdivision. In this situation I would use a personal
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Week Four Team Paper xxxxxxxxxxxxxx QNT/561 August 1‚ 2012 xxxxxxxxx Week 4 Team Paper Best Buy is a company that has 40 years of history with a very accomplished sense of success. In 1966 Best Buy was a small electronics store in that originated in St. Paul Minnesota by Richard Schulze and an acquainted business partner. Considering that technology changes so rapidly‚ Best Buy has had to transform from just being the little electronics store down the way into a competitive
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This file includes ECO 561 Week 3 Reflection Discuss this week’s objectives with your team. Your discussion should include the topics you feel comfortable with‚ any topics you struggled with‚ and how the weekly topics relate to application in your field. Prepare a 1- to 3-page paper detailing the findings of your discussion? Economics - General Economics Discuss this week’s objectives with your team. Your discussion should include the topics you feel comfortable with‚ any
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Comparing IFRS to GAAP Essay ACC/290 November 24‚ 2014 Comparing IFRS to GAAP Paper Although the International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP) have a lot of similar guidelines and expectations‚ they also differ in many ways. The IFRS employs more of a “principles based” accounting standards whereas GAAP utilizes more of a “rules based” approach. Even though there are differences between terminology‚ revenue recognition‚ gains and/or losses
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------------------------------------------------- 1) The Sarbanes-Oxley Act requires that all publicly traded companies maintain a system of internal controls. Internal controls can be defined as a plan to A.safeguard assets B.monitor balance sheets C.control liabilities D.evaluate capital stock ------------------------------------------------- 2) The purchase of treasury stock A. decreases common stock authorized B. decreases common stock issued C. decreases common stock outstanding D
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In this document of ACC 491 Week 1 Discussion Question 2 you will find the next information: The Sarbanes-Oxley Act of 2002 has been described as the most far-reaching legislation affecting business since the passage of the 1933 Securities Act. What are the specific portions of the legislation that affect the external audit profession‚ and how do they affect the profession? How does the legislation affect the internal audit profession? What are some activities that are implied in the legislation
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Resource: WileyPLUS • Brief Exercise BE15-5 • Exercise E16-1 Exercise E17-9 Question 1 In January‚ Reyes Tool & Dye requisitions raw materials for production as follows: Job 1 $900‚ Job 2 $1‚200‚ Job 3 $700‚ and general factory use $600. During January‚ time tickets show that the factory labor of $5‚000 was used as follows: Job 1 $1‚200‚ Job 2 $1‚600 Job 3 $1‚400‚ and general factory use $800. Prepare the job cost sheets for each of the three jobs. (If answer is zero‚ please enter 0
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Resource: WileyPLUS Exercise E20-2 Exercise E20-5 Brief Exercise BE21-4 Exercise E22-5 Question 1 Zeller Electronics Inc. produces and sells two models of pocket calculators‚ XQ-103 and XQ-104. The calculators sell for $12 and $25‚ respectively. Because of the intense competition Zeller faces‚ management budgets sales semiannually. Its projections for the first 2 quarters of 2010 are as follows. Unit Sales Product Quarter 1 Quarter 2 XQ- 103 20‚000 25‚000 XQ-104 12‚000
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Ch 1. Accounting Information and Decision Making Financial accounting: Measurement and communication‚ measures business activities of a company & communicate to external parties Managerial Accounting: methods accountants use to provide info to managers (acct 210) Who needs to make decisions about companies? Investors Creditors-lend money Customers-big customers (i.e. Apple buys memory chips from Samsung) Suppliers-ability to pay Managers-production/expansion Employees-employment opportunities
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