Bookkeeping terms - Study guides, Class notes & Summaries

bookkeeping level 2 terms

CHAPTER 1 ACCOUNTING IN ACTION CHAPTER LEARNING OBJECTIVES 1. Identify the activities and users associated with accounting. Accounting is an information system that identifies, records, and communicates the economic events of an organization to interested users. The major users and uses of accounting are as follows: (a) Management uses accounting information to plan, organize, and run the business. (b) Investors (owners) decide whether to buy, hold, or sell their financial interests on th...

Fundamental Accounting Principles Wild Shaw 20th Edition Test Bank   Fundamental Accounting Principles Wild Shaw 20th Edition Test Bank Chapter 01 Accounting in Business True / False Questions 1. Accounting is an information and measurement system that identifies, records, and communicates relevant, reliable, and comparable information about an organization's business activities. True False 2. Bookkeeping is the recording of transactions and events and is only ...

Bookkeeping/Accounting Terms Accounting - Answer- The process of recording and communicating financial information that is intended to be useful in making economic decisions. Entity assumption - Answer- A business is considered a separate entity distinguishable from its owners, creditors, employees, and all other entities. Asset - Answer- Resources owned by a business that have money value. Cost principle - Answer- Business transactions are entered in the accounting system at cost wh...

NJ REAL ESTATE ACTUAL EXAM QUESTIONS WITH CORRECT ANSWERS A contract of sale prepared by a licensee MUST include an attorney review clause if it pertains to which of the following types of properties? a. any commercial real estate b. an apartment building c. a six family dwelling unit d. a single family residential vacant lot - Answer-d. a single family residential vacant lot A seller is interested in providing financing to the buyer of her homes, but she wants to retain title until th...

CPA MANAGEMENT ACCOUNTING CERTIFIED PUBLIC ACCOUNTANTS PART 1 SECTION 2 A + latest updated version . MANAGEMENT ACCOUNTING GENERAL OBJECTIVE This paper is intended to equip the candidate with knowledge, skills and attitudes that will enable him/her to apply management accounting principles and concepts in business LEARNING OUTCOMES A candidate who passes this paper should be able to: - Estimate the cost of goods and services - Analyse product costs for manufacturing and non-manufacturi...

Auditing and Assurance Services, 16e (Arens/Elder/Beasley) Chapter 2 The CPA Profession 2.1 Learning Objective 2-1 1) The legal right to perform audits is granted to a CPA firm by regulation of A) each state. B) the Financial Accounting Standards Board (FASB). C) the American Institute of Certified Public Accountants (AICPA). D) the Auditing Standards Board. Answer: A Terms: Legal rights to perform audits Diff: Moderate Objective: LO 2-1 AACSB: Reflective thinking 2) Which of the fo...

Discuss the advantage of intrinsic motivation in the class - Students will find satisfaction in activity at completion of a task. Compare and contrast career opportunities for musicians in classical performance and popular music performance - Classical: symphony orchestra, concert bands, and operas. Popular: theaters, house band, etc. both: semi/permanent gigs, gigs/one time performance, teaching, union resources Describe factors that affect student participation in a school music program ...

Pedagogy, Professional Issues, and Technology Music Praxis 5113 Latest Versions Graded A+ Discuss the advantage of intrinsic motivation in the class Students will find satisfaction in activity at completion of a task. Compare and contrast career opportunities for musicians in classical performance and popular music performance Classical: symphony orchestra, concert bands, and operas. Popular: theaters, house band, etc. both: semi/permanent gigs, gigs/one time performance, teaching, ...

CHAPTER 1Accounting Present and Past CHAPTER OUTLINE: I. What Is Accounting? A. Definition B. Uses of Accounting Information C. Classifications 1. Financial Accounting 2. Managerial Accounting / Cost Accounting 3. Auditing — Public Accounting 4. Internal Auditing 5. Governmental and Not-for-Profit Accounting 6. Income Tax Accounting II. How Has Accounting Developed? A. Early History B. The Accounting Profession in the United States C. Financial Accounting Stan...