Chapter 3-1 The Accounting Information System Chapter 3-2 Financial Accounting‚ Fifth Edition Study Objectives 1. Analyze the effect of business transactions on the basic accounting equation. 2. Explain what an account is and how it helps in the recording process. 3. Define debits and credits and explain how they are used to record business transactions transactions. 4. Identify the basic steps in the recording process. 5. Explain what a journal is and
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Chapter 1 Question 1-18 Consumers Union is a nonprofit organization that provides information and counsel on consumer goods and services. A major part of its function is testing of different brands of consumer products that are purchased on the open market and then the reporting of results of the tests in Consumer Reports‚ a monthly publication. Examples of the types of products it tests are middle-sized automobiles‚ residential dehumidifiers‚ flat-screen TVs‚ and boys’ jeans. a.) In what ways
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store supplies inventory. finished goods inventory. raw materials inventory. work in process inventory. Inventory items on an assembly line in various stages of production are classified as Finished goods. Work in process. Merchandise inventory. Raw materials. Rudolf Diesel Company’s inventory records show the following data: Units Unit Cost Inventory‚ January 1 5‚000 $9.00 Purchases: June 18 4‚500 8.00 November 8 3‚000 7.00 A physical inventory on December 31 shows 3‚000 units on hand. Under the FIFO
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Assignment 9: Marketing (20 points) In Section 9‚ you learned about marketing. Now‚ you’ll apply what you learned. 1. Visit a Web site for a company that sells products online. Then go to that company’s corporate Web site. Compare the company’s product sales site with its corporate site. Describe at least 3 differences between them. (1-3 sentences. 3.0 points) The website of the company I visited was Ebay. Its corporate site and the product sales site differ in many ways‚ for example the
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Explain the principle of the separation of powers found in the US Constitution. The separation of powers is the main underlying principle of the US Constitution whereby political power is distributed amongst the three branches of government – the legislature‚ the executive and the judiciary. The branches act both independently and interdependently. The idea was originally of French political thinker Baron de Montesquieu‚ it was then incorporated by the Founding Fathers into the 1787 codified document
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POLLUTION Pollution is the introduction of contaminants into the natural environment that causes adverse change. Pollution can take the form of chemical substances or energy‚ such as noise‚ heat or light. Pollutants‚ the components of pollution‚ can be either foreign substances/energies or naturally occurring contaminants. Pollution is often classed as point source or nonpoint source pollution. Forms of pollution The major forms of pollution are listed below along with the particular contaminant
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Minding the store 1- There are nine specific ways to foster empowerment. Ken Hoffman didn’t follow these rules and thus failed to produce a sense of competence choice‚ impact value and security. The first rule that Ken Hoffman violated was articulating a clear vision and goals. When Ruth Cummings was made the branch manager‚ she was told to make the store one of the best in the system. He failed to share the vision of where the organization is going and how Ruth can contribute as an individual
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NFA note Chapter 1 Government by statute or under not for profit corporation laws are governmental if they posses one more of the following chateristics: their officers are popularly elected or a controlling majority of their governing body is appointed or approved by governmental officals‚ they possess the power to enact and enforce a tax levy‚ they hold the power to directly issue debt whose interest is exempt from federal taxation‚ or they face the potential that a government might dissolve
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Chapter 7 Foundations of Planning True/False Questions WHAT IS PLANNING? 1. Planning is concerned with how objectives are to be accomplished‚ not what is to be accomplished. (False; easy; p. 184) 2. If a manager refuses to write anything down or share his plans with others in the organization‚ he is not truly planning. (False; moderate; p. 184) WHY DO MANAGERS PLAN? 3. Planning provides direction to managers and nonmanagers alike. (True; easy; p. 185) 4. Even without planning‚ departments
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ACC 556 – Financial Accounting for Managers Chapter 1 Homework Due Week 1 and worth 10 points Directions: Answer the following four questions on a separate document. Explain how you reached the answer or show your work if a mathematical calculation is needed‚ or both. Submit your homework assignment using the homework assignment link in the course shell. E1-1 Here is a list of words or phrases discussed in this chapter: 1. 2. 3. Corporation Creditor Accounts receivable 4. 5. 6. Partnership Stockholder
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