INTRODUCTION TO ACCOUNTING AND BUSINESS QUESTION INFORMATION Number |Objective |Description |Difficulty |Time |AACSB |AICPA |SS |GL | |EO1-1 |1-1 | |Easy |5 min |Analytic |BB-Industry | | | |EO1-2 |1-1 | |Easy |5 min |Analytic |BB-Industry | | | |EO1-3 |1-1 | |Easy |5 min |Analytic |BB-Industry | | | |EO1-4 |1-1 | |Easy |5 min |Analytic |BB-Industry | | | |EO1-5 |1-1 | |Easy |5 min |Analytic |BB-Industry | | | |EO1-6 |1-2 | |Easy |5 min |Analytic |FN-Measurement | | | |EO1-7
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Review sheet Test 2 Chapters 4 & 5 (33 Multiple choice) Chapter 4 ▪ Definitions or calculations presentation on financial statements- Net Sales‚ COGS‚ gross profit‚ selling and administrative expenses o Sale - sale discount = Net sales o Net sale – COGS = Gross profit o Sale discount + net sale= sale o Sale – net sale = sale dis o Net sale – gross profit= COGS New asset -> inventory Expense -> COGS Revenue -> sales Contra revenue (debit)
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1. Accounting is an information and measurement system that: A. Identifies business activities. B. Records business activities. C. Communicates business activities. D. Helps people make better decisions. E. All of these. 2. Technology A. Has replaced accounting. B. Has not changed the work that accountants do. C. Has closely linked accounting with consulting‚ planning‚ and other financial services. D. In accounting has replaced the need for decision makers. E. In accounting is only
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11-3 Marvin Enterprises Decides to Exploit a New Technology—an E... https://connect.mcgraw-hill.com/sites/007131430x/student_view0/ebo... Principles of Corporate Finance Global Edition Ebook 10/e Content Chapter11: Investment‚ Strategy‚ and Economic Rents p. 307 309 308 311 To illustrate some of the problems involved in predicting economic rents‚ let us leap forward several years and look at the decision by Marvin Enterprises to exploit a new technology. 18 One of the most unexpected
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Balancing Chemical Equations Answer Key Vocabulary: coefficient‚ combination‚ compound‚ decomposition‚ double replacement‚ element‚ molecule‚ product‚ reactant‚ single replacement‚ subscript Prior Knowledge Questions (Do these BEFORE using the Gizmo.) [Note: The purpose of these questions is to activate prior knowledge and get students thinking. Students are not expected to know the answers to the Prior Knowledge Questions.] The scouts are making s’mores out of toasted marshmallows‚ chocolate
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http://smallbusiness.chron.com/difference-between-traditional-accounting-computerized- accounting-4021.html INTRODUCTION: Before the advent of fast and cheap computers‚ accounting traditionally was processed manually with all transactions recorded in columnar papers and kept in voluminous binders. Once computers became popular and software affordable‚ accounting tasks moved into this medium‚ where concepts stayed the same but mechanics changed from papers to programs. AIMS AND OBJECTIVE:
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profit. Income refers to the increase in economic benefit during the accounting period in the form of inflow or enhancement of assets or decrease of liabilities that result in increase in equity. There are two types of income. First‚ sales revenue refers to income earned in the course of business activity for example a coffee house selling coffees. Second‚ gain refers to income that does not arise from the
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the child weight (Y). Included you will find a table containing the information on 5 of the children. Use the table to answer the following: Child Number of meals consumed per day (X) child weight (Y) X² Y² XY Ahmad 11 8 121 64 88 Ali 16 11 256 121 176 Osama 12 9 144 81 108 Husien 19 13 361 169 247 Total 58 41 882 435 619 a. Determine the simple linear regression equation. b. Determine the correlation coefficient. Interpret it in words. c. What is the
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1.1 Value Chain Analysis Applied to the Timber and Timber Products Industry. Exhibit 1.A below contains a depiction of the value chain. The links in the value chain are as follows: 1. Timber Tracts: Plant and maintain timber tracts (Weyerhaeuser) 2. Logging: Harvests timber (Weyerhaeuser) 3a. Sawmills: Cut timber into various grades of wood (Weyerhaeuser) 3b. Pulp and Paper Manufacturing: Grinds timber into pulp and converts the pulp into various grades of paper and
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1) As you have learned in this week’s readings the Accounting Equation is Assets = Liabilities + Owners’ Equity. Is the accounting equation true in all instances? Provide sample transactions from your own experiences to demonstrate the validity of the Accounting Equation. 2) What does the term account mean? What are the different classifications of accounts? How do the rules for debits and credits impact accounts? Please provide an example of how debits and credits impact accounts.
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