ACC EXAM 1 PART 2 QUESTIONS & ANSWERS 2024/2025
Standard Categories Assets - ANSWERS1. current assets
2. long term investments
3. property, plans and equipment
4. intangible assets
current assets order of liquidity - ANSWERS1. cash
2. debt investments
3. accounts receivable
4. invento...
Standard Categories Assets - ANSWERS1. current assets
2. long term investments
3. property, plans and equipment
4. intangible assets
current assets order of liquidity - ANSWERS1. cash
2. debt investments
3. accounts receivable
4. inventory
5. supplies
6. prepaid insurance
long term assets order - ANSWERS1. long term investments
2. PPE
3. intangible assets
Working Capital - ANSWERScurrent assets - current liabilities
Current Ratio - ANSWERScurrent assets divided by current liabilities
debt to assets ratio - ANSWERStotal liabilities/total assets
Stockholders invested 35000 in exchange for common stock of the corporation - ANSWERScash: 35000
common stock: 35000
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