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
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Chapter 3 Multiple Choice 1. What is externality a. Looking at a problem from an external view b. A private behavior that has broader social consequences* pg 56 c. Weighing the costs and the benefits of a decision d. F 2. Who deals with externalities in a market economy a. The government* pg 56 b. Local businesses c. Volunteers d. Individuals 3. Which one of these can you have property rights on a. House b. Car c. Inventions d. All of the above* pg 66 4. What is the average cost of bringing a new
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Chapter 3 Reading Questions: 1. Core Case Study: “Have you thanked your insects today?”- Explain why insects are significant. Many of the earth’s plant species depend upon insects to pollinate them. Carnivorous insects‚ such as the praying mantis‚ control the ‘pest’ insect population. 2. What percentage of the species on this planet consists of insects? Animals? Plants? 53% are insects; 20% are other animals; 18% are plants. 3. Give three examples of how we benefit from microbes. Soil bacteria
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Prob. 1–5B 1. Assets = Liabilities + Stockholders’ Equity Accounts Accounts Cash + Receivable + Supplies + Land = Payable + Capital + Retained Stock Earnings $25‚000 + $30‚000 + $5‚000 + $50‚000 = $18‚000 + Capital + Retained Stock Earnings $110‚000 = $18‚000 + $35‚000 + Retained Earnings $57‚000 = Retained Earnings Prob. 1–5B (Continued) 2. Stockholders’ Assets = Liabilities + Equity Accounts Accounts Capital
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Chapter 3 Module Review Questions 4/17/2012 1. Which features of organizations do managers need to know about to build and use information systems successfully? What is the impact of information systems on organizations? * Define an organization and compare the technical definition of organizations with the behavioral definition. The technical definition of an organization is a stable‚ formal social structure that takes resources from the environment and develops them to outputs. The
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Chapter 5: National-Income Accounting Multiple Choice Questions MEASURES OF OUTPUT 1. The primary purpose of the national-income accounts is to assist: A) Market investors in making more profitable investments. B) Wage earners in maximizing their incomes. C) Economic historians to better understand the economic past. D) Government policy makers in formulating economic policies and evaluating performance. Answer: D Type: Definition Page: 93 2. Prices
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Upper Hutt College Year 13 Biology Slater Study Achievement standard: biology 3.1 Introduction to experiment: In this investigation of the ecological niche of the woodlouse‚ I chose to experiment the amount of soil moisture that the slaters tend to prefer. I chose this aspect‚ as moisture is a vital part in the survival of this small creature. Internet sources provided information of the woodlice that shows that they are from crustacean descent and formerly aquatic even though
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ACCT 1150 Jex Chapter 1 End of Chapter Questions True/False 1. True 2. True 3. False 4. False 5. False 6. False 7. True 8. True 9. True 10. False Multiple Choice 1. C. qbw 2. B. Chart of Accounts 3. A. Are keyboard command shortcuts 4. A. Give commands to QuickBooks 5. B. An adding machine tape 6. A. Allows you to give commands to QuickBooks according to the type of transaction being entered 7. B. A picture 8. B. Help 9. D. A backup file 10. The title bar Fill-In
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Chapter 14 Financial Statement Analysis True / False Questions 1. Vertical analysis compares the results of financial information with a business in the same industry for a number of consecutive periods of time. True False 2. The quick ratio is especially useful in evaluating the liquidity of a company with fast moving inventories. True False 3. Deducting the cost of goods sold from net income gives us operating income. True False 4. The gross profit rate is
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Report on the distribution of slaters in different level of soil pH Introduction Slater (woodlouse)‚ Biological name Porcellio scaber‚ is probably the most common species in New Zealand. They belong to the biological class Crustacea. Their size is about 17mm in length. They have rough exoskeleton and usually in dark grey colour. They have 7 pairs of legs‚ each pair is attached to the underneath of each thorax segment. Their body consists into three sections: head‚ thorax and abdomen‚ these are
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