EXAM SAMPLE EXAM 1. The accounting process does not include: a. b. c. 2. d. e. labor unions all of the above statement of owner’s equity income statement balance sheet d. e. both b and c all of the above This account does not appear on the income statement: a. b. c. 6. lenders prospective owners customers Expenses can be found in the: a. b. c. 5. balance sheet balance sheet and journals balance sheet and income statement income statement
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LECTURE 1 PARTNERSHIP ACCOUNTS 1.1 LECTURE OUTLINE 1.1 The provision of the Partnership Act 1.1.1 Formation/ membership limits 1.1.2 Rights of partners 1.1.3 Obligations of partners 1.1.4 Dissolutions of partnerships Business/ Firm 1.1.5 Privileges of partners 1.2 Realignments 1.2.1 Treatment of goodwill in partnership Admission of new partners 1.2.2 Admission of new partners Retirement of partners 1.2.3 Retirement of partners 1.3 Dissolution of partnerships 1.3.1 Piece-meal Dissolutions
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Do you agree with Milton Friedman’s (1970) claim that : « the only responsibility of business is to increase its profits » ? Milton Friedman was an American economist‚ statistician and writer‚ who had a massive impact on the research agenda of the economics profession. His famous words “the only responsibility of business is to increase its profits” (Friedman‚ Milton. 1970) led to many controversial debates on whether businesses should have ethics or if profit should be their main goal. Corporate
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important source of information. I do agree with those who say that Internet provides people with a lot of valuable information. First of all‚ the Internet is a big library‚ where you can find whatever information you like. Secondly the Internet helps you to communicate‚ which means to trade with the newest information with your friends and society. Thirdly the Internet gives you opportunity to purchase whatever you want without even going to the shop. Imagine you can find a book without even going
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Friar Lawrence is the only character to blame for the deaths of Romeo and Juliet. Do you agree? Romeo and Juliet is a tragic love story between two ’star-crossed lovers‚" written in 1596 by William Shakespeare. It is set in the town of Verona‚ Italy‚ where two households - the Montagues and Capulets- are involved in an ancient feud. One character who was in the middle of it all was Friar Lawrence‚ whose actions are put to blame for the death of Romeo and Juliet. Shortly after Romeo and Juliet
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The Chart of Accounts The increases and decreases in accounting element as affected by a business transaction are recorded in a device called account name‚ account title or account. Each accounting element is composed of several accounts which describe the related economic transactions and events. To maintain uniform account name‚ the business must have a listing of all the accounts it uses to record economic transactions. This listing of all accounts is called “Chart of Accounts.” The Chart of
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‘Snowball would have made a better leader than Napoleon.’ Do you agree? ‘Animal Farm’ is a novel based on the Russian Revolution‚ about a group of animals wanting to rebel against man. Snowball a smart‚ fair and strong leader gets ruled over by Napoleon‚ an unfair and selfish leader. This was the first error in the rebellion. Snowball would have defiantly made a better leader than Napoleon. The reasons for this are that he educated the animals‚ had future economic plans and knew how to keep a
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Something that I learned to do non academic is a to play cymbals. Why cymbals you may ask? Well I was never really interested in band even though I was in it for a year. I wasn’t interested in playing a wood‚ horn‚ or drum. I never knew that my school had cymbals cause my class period there were none. The first time that I ever seen actual cymbal players was at TSU football game. I saw how they twirled and danced as they played the instruments. My cousin was in the drum line he bounced around to
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INTRODUCTION ABOUT COMPANY TAKEN (i.e. AMRUTANJAN HEALTH CARE LIMITED: Particulars AMRUTANJAN HEALTH CARE Year of establishment 1936 Revenue for the current year 26.1749(USD in millions) Market Capitalization 1686.607351( RS. in millions) Industry Pharmaceuticals Total Income 1393.532573(Million rupees on year ending march 2013) Net Profit 121.196237 INTRDUCTION: There are two types of prospective financial statements. 1. Projected financial statement 2. Forecasted financial statement
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The Chronicle Review October 3‚ 2010 What Are You Going to Do With That? Katherine Streeter for The Chronicle Review By William Deresiewicz The essay below is adapted from a talk delivered to a freshman class at Stanford University in May. The question my title poses‚ of course‚ is the one that is classically aimed at humanities majors. What practical value could there possibly be in studying literature or art or philosophy? So you must be wondering why I’m bothering to raise it here‚ at
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