Petty cash fund - Study guides, Class notes & Summaries

Accounting 2401 Final Exam Study Guide ACCOUNTING 2401 FINAL EXAM STUDY GUIDE   Accounting 2401 Final Exam Study Guide Multiple Choice (2.5 points each) 1. During 2014, Parker Enterprises generated revenues of $90,000. The company’s expenses were as follows: cost of goods sold of $45,000, operating expenses of $18,000 and a loss on the sale of equipment of $3,000. Parker’s gross profit is a. $24,000. b. $27,000. c. $45,000. d. $90,000. 2. During 2014, Parker Ente...

ACCT 2102 Questions and Answers | Latest Version | 2024/2025 | 100% Verified What is the definition of a contingent liability? A contingent liability is a potential obligation that may arise depending on the outcome of a future event, such as a lawsuit. Explain the term "capital expenditures." Capital expenditures are funds used by a company to acquire or upgrade physical assets such as property, buildings, or equipment. What is an operating cycle? An operating cycle is th...

PATIENT TRUST FUNDS Must have a policy. May state that the facility will not handle monies in excess of $5,000.00. The facility may charge a reasonable fee not to exceed the ACTUAL COST of providing service. 1) Policy: This must be given resident upon admission. A statement that the facility will handle personnal funds if no other person is available. Periodic statement of accounts (Minimum: Quarterly) 2) Required Printed Information: Quarterly statements including all...

A primary benefit of performing a bank reconciliation is: accuracy of cash reported in the balance sheet. accuracy of liabilities reported in the balance sheet. accuracy of revenues reported in the income statement. accuracy of cash reported in the balance sheet. A bank reconciliation reconciles the difference between the bank's balance of cash and the company's balance of cash related to: errors and fraud. timing differences. both timing differences and errors and fraud represent differenc...

1. Which of the following is the primary benefit of numeric filing? A. Patient confidentiality is preserved B. Only the patients' names must be shown on the labels of the files C. Files may be stored either vertically or horizontally D. Color-coding is not necessary E. Less storage space is required - ANSWER A. 2. If a patient is unresponsive, which of the following should be assessed first? A. Blood pressure B. Pulse C. Pupils D. Muscle tone E. CAB (Circulation, Airway, and B...

Johnson thought the employer cheated him on his paycheck. He decided to take the money he was owed from the company petty cash fund. Johnson's actions should be viewed as a _____________ matter. A) Civil B) Criminal - answer-B) Criminal Two employees of the zoo were arguing about the treatment of the animals. They started fighting. An officer responded to the site and stopped the fight. He cited each of the employees for disturbing the peace. The officer's actions reflected the _______...

State of Michigan nursing home administrator test 2024 questions with complete solutions 1) Policy: ANS-Must have a policy. May state that the facility will not handle monies in excess of $5,000.00. The facility may charge a reasonable fee not to exceed the ACTUAL COST of providing service. 2) Required Printed Information: ANS-This must be given resident upon admission. A statement that the facility will handle personnal funds if no other person is available. Periodic statement of ac...

PATIENT TRUST FUNDS 1) Policy: Must have a policy. May state that the facility will not handle monies in excess of $5,000.00. The facility may charge a reasonable fee not to exceed the ACTUAL COST of providing service. 2) Required Printed Information: This must be given resident upon admission. A statement that the facility will handle personnal funds if no other person is available. Periodic statement of accounts (Minimum: Quarterly) 3) Procedure: American Institute o...

State of Michigan Nursing Home Administrator Exam Already Rated A+ 1. Policy: ️Must have a policy. May state that the facility will not handle monies in excess of $5,000.00. The facility may charge a reasonable fee not to exceed the ACTUAL COST of providing service. 2. Required Printed Information: ️This must be given to resident upon admission. A statement that the facility will handle personal funds if no other person is available. Periodic statement of accounts (Mini...

ACCO 310 - financial reporting I MULTIPLE CHOICE—Conceptual final exam actual practice verified 2024 questions and answers Concordia University 1. The essential characteristic(s) of accounting is (are) a. communication of financial information to interested persons. b. communication of financial information about economic entities. c. identification, measurement, and communication of financial information. d. all of these. 2. Financial accounting is concerned with the process that cul...