Acc 202 - Study guides, Class notes & Summaries

Acc 201 CSULB midterm 1Determines whether the company complied with tax laws - correct answer Internal Revenue Service Determines whether the company can pay its obligations - correct answer Creditors Determines whether an advertising proposal will be cost-effective - correct answer Marketing managers Determines whether the company's net income will result in a stock price increase - correct answer Investors in common stock Determines whether company should employ debt or equity fin...

Exam 1 ACC 241 ASU 2024 QUESTIONS AND ANSWERS 100%VERIFIEDExam 1 ACC 241 ASU 2024 QUESTIONS AND ANSWERS 100%VERIFIEDExam 1 ACC 241 ASU 2024 QUESTIONS AND ANSWERS 100%VERIFIEDExam 1 ACC 241 ASU 2024 QUESTIONS AND ANSWERS 100%VERIFIED Unit‐level activities - ANSWER - activities occur every time a service is performed or a product is made. The costs of direct materials, direct labor, and machine maintenance are examples of unit‐level activities. Batch‐level activities - ANSWER - level...

company shows a balance in Salaries and Wages Payable of $50,000 at the end of the month. The next payroll amounting to $75,000 is to be paid in the following month. What will be the journal entry to record the payment of salaries? - Answer Debit Salaries and Wages Payable 50,000, Debit Salaries and Wages Expense 25,000; Credit Cash 75,000 Given the following adjusted trial balance: Cash $831 Accounts receivable 1,049 Inventory 1,562 Prepaid rent 43 Equipment 150 Accumulated depreciat...

Accounts payable - the amount a company owes to suppliers for goods and services purchased with credit Advantages of a corporation - limited liability, ability to raise capital and transfer ownership authorized shares - shares of common stock that a firm's corporate charter allows it to issue callable bonds - bonds that the issuing company can redeem (buy back) at a stated dollar amount prior to maturity contingent gain - an existing uncertain situation that might result in a gain Contin...

SOUTHERN NEW HAMPSHIRE UNIVERSITY 2024 SOPHIA LEARNING - MANAGERIAL ACCOUNTING MODULES: QUESTIONS AND ANSWERS SOLVED 100% A- Compare managerial accounting concepts and financial accounting concepts. a.) Purchasing manager b.) Production manager c.) Bank manager d.) Budget manager Correct * c: Banks and credit unions are external users that rely on financial information, such as audited financial statements, to lend money. B- Which of the following is an example of an internal deci...

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Sole Proprietorship - A business owned by one person Simple to set up and gives you control over business Partnership - A business owned by two or more persons associated as partners. Typically a partnership agreement sets forth terms, such as initial investment, duties of each partner, division of profits or losses, and the settlement ti be made upon dissolving partnershup Corporation - A business organized as a separate legal entity under state cooperation and having ownership divided i...

Acc 201 CSULB midterm 1Determines whether the company complied with tax laws - correct answer Internal Revenue Service Determines whether the company can pay its obligations - correct answer Creditors Determines whether an advertising proposal will be cost-effective - correct answer Marketing managers Determines whether the company's net income will result in a stock price increase - correct answer Investors in common stock Determines whether company should employ debt or equity fin...

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