ACC 300 Final Exam 1

  * Marked fields are required.
Price $25.00

ACC 300 Sample Final, Click for SET 2, SET 3, SET4, 04 SETS

  • Which of the following statements is true?
  • Which of the following financial statements is divided into major categories of operating, investing, and financing activities?
  • If the retained earnings account increases from the beginning of the year to the end of the year, then
  • Notes to the financial statements include which of the following:
  • If services are rendered on account, then
  • An investment by the stockholders in a business increases
  • Using accrual accounting, expenses are recorded and reported only:
  • The Vintage Laundry Company purchased $6,500 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the laundry supplies indicated only $2,000 on hand.........
  • A small company may be able to justify using a cash basis of accounting if they have:
  • Stockholders’ equity can be described as claims of
  • Common stock is reported on the
  • On July 1 the Fisher Shoe Store paid $15,000 to Acme Realty for 6 months rent beginning July 1. Prepaid Rent was debited for the full amount. If financial statements are prepared on ........
  • Use the following data to calculate the current ratio. Koonce Office Supplies, Balance Sheet, December 31, 2012
  • When a change in depreciation method occurs:
  • Which of the following statements is true with respect to financial statement reporting for all cases when a company changes from one acceptable accounting method to another?
  • Use the following data to determine the total dollar amount of assets to be classified as current assets.
    Koonce Office Supplies, Balance Sheet, December 31, 2012
  • Which of the following would be considered a change in accounting principle?
  • In horizontal analysis, each item is expressed as a percentage of the
  • From an internal control standpoint, the asset most susceptible to improper diversion and use is
  • The reconciliation of the cash register tape with the cash in the register is an example of
  • Deposits in transit........
  • Which of the following items on a bank reconciliation would require an adjusting entry on the company’s books?
  • A very small company would have the most difficulty in implementing which of the following internal control activities?
  • Notification by the bank that a deposited customer check was returned NSF requires that the company make the following adjusting entry:
  • Which of the following is a debt security?
  • Reed Company acquires 80 Holmes 10%, 5 year, $1,000 bonds on January 1, 2012 for $82,000. This includes a brokerage commission of $2,000......
  • Why do pension and mutual funds invest in debt and equity securities?
  • Reed Company acquires 80 Holmes 10%, 5 year, $1,000 bonds on January 1, 2012 for $82,000. This includes a brokerage commission of $2,000. Assume Holmes pays interest semiannually and the July 1 entry was done correctly.................
  • A company that owns more than 50% of the common stock of another company is known as the
  • If a parent company has two wholly owned subsidiaries, how many legal and economic entities are there from the viewpoint of the shareholders of the parent company?
Reviews (0) Write a Review
No Reviews. Write a Review