UNIVERSITY COLLEGE PRINCIPLES OF ACCOUNTING I ACCT220 FUN QUIZ FOUR: CHAPTER FOUR I. Multiple Choice. Select the best lettered answer for the number question or best lettered completion for the numbered partial statement. Record the letter next to the number. 1. _____ The account‚ Supplies‚ will appear in the following debit columns of the worksheet. a. Trial balance b. Adjusted trial balance c. Balance sheet d. All of these answer choices are correct 2. _____ If Income Summary has
Premium Balance sheet Generally Accepted Accounting Principles Accounts receivable
CHAPTER 1 Partnership Formation and Operations EXERCISES Exercise 1 –1 |1.a |Campos‚ Capital |14‚000 | | | | Allowance for Uncollectible Accounts | |14‚000 | | | | | | |
Premium Generally Accepted Accounting Principles Balance sheet Accounts receivable
Quiz Chapter 6 1. One of the objectives of export tariffs is to: A. improve the efficiency of utilization of resources. B. curb the competition offered by foreign firms to domestic firms. C. reduce exports from a sector‚ often for political reasons. D. maintain a positive trade deficit. 2. _____ take many forms including cash grants‚ low-interest loans‚ tax breaks‚ and government equity participation in domestic firms. A. Ad valorem tariffs B. Subsidies C. Quota rents D. Specific
Premium International trade Protectionism
Industrial products are purchased for further processing or to be used in conducting a business. There are also differences in quantity. Consumer goods are usually much smaller in quantity. The type of materials used by each class also differs. 2. The four key characteristics of services are intangibility‚ inseparability‚ variability‚ and perishability. Service Intangibility lacks tangible assets which can be seen‚ touched‚ smelt‚ heard‚ or tasted prior to purchase. Examples of such would be
Premium Marketing Pricing
CHAPTER 1 The Fundamentals of Managerial Economics McGraw-Hill/Irwin Copyright © 2014 by The McGraw-Hill Companies‚ Inc. All rights reserved. Chapter One Chapter Overview • Introduction – The manager – Economics – Managerial economics defined • Economics of Effective Management – Identifying goals and constraints – Recognize the nature and importance of profits – Understand incentives – Understand markets – Recognize the time value of money – Use marginal analysis • Learning managerial economics
Premium Economics Costs Microeconomics
merely the framer of the nursing profession; she was also a pioneer of social entrepreneurship‚ even before J. G. Simon established the term of a non-‐profit organization. Symptoms • Nurses were not considered professionals in the mid 1800s and even had a bad stigma. Hospitals placed their patients in
Premium Nurse Nursing Florence Nightingale
1. What do the majority of rail movements involve? Low value‚ heavy commodities 2. The basic unit of measurement for railroad freight handling is known as the: Carload 3. Which type of railroad car has the greatest numbers in service? Covered hopper 4. Who are the owners the greatest percentage of rolling stock in use? Class I railroads 5. What is the standard track gauge in the U.S? 4’ 8.5" 6. Which of the following helped lead to the erosion of rail dominance in U.S. transportation? Government
Premium Rail transport Locomotive Class I railroad
Chapter 10 Plant Assets‚ Natural Resources‚ and Intangibles QUESTIONS 1. A plant asset is tangible; it is used in the production or sale of other assets or services; and it has a useful life longer than one accounting period. 2. The cost of a plant asset includes all normal and reasonable expenditures necessary to get the asset in place and ready for its intended use. 3. Land is an asset with an unlimited life and‚ therefore‚ is not subject to depreciation. Land improvements have
Premium Depreciation Asset Generally Accepted Accounting Principles
Chapter 2: The Financial System Financial system Matching those who have savings with those who want to borrow With or without the use of financial intermediaries The securities‚ intermediaries‚ and markets that exist to match savers and borrowers Essential part of a well- functioning economy The Financial System Financial Securities Financial security A contract in which a borrower Who seeks to obtain money from someone Promises to compensate the
Premium Bond Debt Stock market
Multiple Choice Questions 1. Which of the following entities would not require accounting information pertaining to their economic activities? a. Social clubs. b. Not-for-profit entities. c. State governments. D. All of these require accounting information. e. None of these requires accounting information. Difficulty: Easy 2. Which of the following is not an objective of financial reporting described in FASB Concepts Statement No. 1? a. To provide information about how management of
Premium Financial audit Auditing International Financial Reporting Standards