ACCOUNTING Some basic knowledge about accounting: - Accouting is a study of the concepts and techniques used in such reporting. - Accounting information serve for each entity with particular task: Taxing authorities‚ stockholders‚ workers and potential employess‚ … - Definition of accouting: the art of recording‚ classifying‚ summarizing‚ interpreting. 1. Fields of accounting ❖ Based on recording methods: Accounting information is deal with in 2 systems: + single entry
Premium
ACCOUNTING EXAM 2 STUDY GUIDE Chapter 5 1. Know the following terms: merchandise inventory‚ sales‚ sales returns and allowances‚ sales discounts‚ net sales‚ cost of merchandise sold‚ gross profit‚ operating expenses‚ operating cycle‚ purchase discounts‚ purchase returns and allowances‚ FOB shipping point‚ FOB destination‚ and inventory shrinkage. 2. Be able to prepare a multiple step income statement. 3. Be able to prepare the journal entries for the seller and buyer including
Premium Generally Accepted Accounting Principles Finance Management
decreases in individual items in comparative financial statements is called a. vertical analysis b. solvency analysis c. profitability analysis d. horizontal analysis 2. Which of the following below generally is the most useful in analyzing companies of different sizes a. comparative statements b. common-sized financial statements c. price-level accounting d. audit report 3. The percent of fixed assets to total assets is an example
Premium Balance sheet Generally Accepted Accounting Principles
A.P. U.S. History Chapter 3 Pages 68-83 Expansion and Native Americans 1. What caused a massive decrease in the numbers of New England Native Americans? Huge amounts of people fell to conflict and even more to disease. 2. What actions were taken by New Englanders to further the demise of Native tribes? The New Englanders regularly raided and massacre the native peoples around their towns 3. What were the causes of the Pequot War? The results? The cause of the Pequot war was a
Premium Native Americans in the United States United States New Jersey
5 tons 1800 Barley 2.2 tons 2200 Constraints: Thus mathematical model is: Maximize: Subject to: Solving the problem using solver of MS Excel we get the solution as follows: Variable Solution 547.21 544.90 422.71 311.34 373.84 65.52 65.52 0.00 Variable Max. Profit Solution 0.00 0.00 586.66 376.95 35.33 0.53 0.53 315862.07 Crop Plan Parcel Cultivation Area (Acre) Wheat Alfalfa Barley Total Area Southeast 547.21 65.52 586.66 1199.39 North 544
Premium Optimization Agriculture Maxima and minima
Group: 5Vi Number: 1550633 Name: Estefania Gutierrez Sanmiguel Team: 4 Review Questions Chapter 3 1 What roles do GAAP‚ the FASB‚ and the PCAOB play in the financial reporting activities of public companies? 2 Describe the purpose of each of the four major financial statements. The purposes of each of the 4 major financial statements are: Income Statement—the purpose of the income statement is to provide a financial summary of the firm’s operating results during a specified time period. It includes
Premium Financial ratio Financial ratios Generally Accepted Accounting Principles
Difficulty: Easy Learning Objective: 1-3 2. General partners have limited personal liability for business debts in a limited partnership. FALSE AACSB: Communication Abilities Bloom’s: Knowledge Difficulty: Medium Learning Objective: 1-3 3. The separation of ownership and management is one distinctive feature of corporations. TRUE AACSB: Reflective Thinking Skills Bloom’s: Understanding Difficulty: Easy Learning Objective: 1-3 4. A major disadvantage of partnerships
Premium Corporation Corporate finance Stock market
Income and substitution effects The inverse relationship between price and quantity demanded results from both an income effect and a substitution effect. A change in price causes a change in both the relative price of the product and the purchasing power of the consumer’s income. Either one of these changes taken in isolation would bring about a change in the quantity demanded. One can think of the total change in quantity demanded brought about by a change in price as being the sum of these two
Premium Consumer theory
MEANING OF ACCOUNTING: Accounting is the process of recording‚ classifying‚ summarizing‚ analyzing and interpreting the financial transactions of the business for the benefit of management and those parties who are interested in business such as shareholders‚ creditors‚ bankers‚ customers‚ employees and government. Thus‚ it is concerned with financial reporting and decision making aspects of the business. The American Institute of Certified Public Accountants Committee on Terminology proposed in
Premium Balance sheet Income statement Economics
World Civilizations Chapter 3 Using the text‚ answer the following questions. Remember to use past tense and 3rd person. 1. How did the caste system develop? The Caste System developed in India by a separation of the people due to the social hierarchy and the economical differences between them. Depending on their caste‚ the people were treated differently even though they lived side by side each other. The Caste system being developed allowed the “conquers” and the “conquered” to live
Premium India Hinduism Buddhism