ACC EXAM 1 Complete Questions And Correct Verified Answers.
1 view 0 purchase
Course
ACC.
Institution
ACC.
2 organizations that are simple to establish - correct answer sole proprietorship & partnership
organization that is easy to transfer ownership - correct answer corporations
organizations that has no personal liablility - correct answer corporations
2 internal users of finan...
2 organizations that are simple to establish - correct answer sole proprietorship & partnership
organization that is easy to transfer ownership - correct answer corporations
organizations that has no personal liablility - correct answer corporations
2 internal users of financial statements - correct answer directors and marketing managers
3 external users of the financial statements - correct answer creditors investors labor unions
customers irs epa sec
2 ways a corporation makes money - correct answer borrowing money and selling shares of stock
activities that are considered financing - correct answer selling common stock and issuing a loan with
a bank
name of account when an increase in assets (cash or accounts receivable) resulting from the sale of a
product or service - correct answer revenue
the cost of assets consumed or services used in the process of generating revenues - correct answer
expenses
resources owned or used by the business - correct answer assets
the right to receive money in the future - correct answer accounts receivable
when expenses exceed revenues - correct answer net loss
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Rechga. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
