Accounting 101 Study guides, Class notes & Summaries

Accounting 101 Exam 1 Questions and answers latest update 2024

Accounting 101 Final Exam Study Guide 2022-23 Questions with Correct Answers |100% Verified

Know the 3 forms of business entities correct answers Sole proprietorship- A single owner Partnership- has two or more parties as co-owners each is an owner Corporation- Owned by stockholders, or shareholders, who own stock representing share of ownership in the corporation. Definition of Revenues correct answers Increase in retained earnings from delivering goods or services to customers or clients. Definition of Expenses correct answers Decrease in retained earnings that results from o...

University of South Florida ACCOUNTING 101 Quickbooks 2019 Recertification Exam updated 2023/University of South Florida ACCOUNTING 101 Quickbooks 2019 Recertification Exam updated 2023/University of South Florida ACCOUNTING 101 Quickbooks 2019 Recertification Exam updated 2023

Financial Accounting & Reporting 101 FAR section of the CPA 2024 exam.

ACCOUNTING 101 EXAM 3 QUESTIONS & ANSWERS (2023/2024)(VERIFIED ANSWERS)

3 Types of business correct answers Sole Proprietorship, Partnership, Corporation Sole Proprietorship correct answers One of the three types of business. It is a business owned by one person. Pros: You are in control, simple to establish, tax advantages Cons: Proprietor is liable, financing may be difficult, Transfer of ownership may be difficult. Partnership correct answers One of the three types of business. It is a business owned by two people. Pros: The two people are completely in...

Assets = correct answers Liabilities + Share-owners' Equity Assets correct answers econ. resources of a company that benefit future operations. Some assets like Accounts Receivable are amounts owed to the company. Other assets can be characterized as deferred expenses. Liabilities correct answers are obligations to pay cash, transfer assets, or provide services to other entities. (ANYTHING PAYABLE) Shareholders' Equity correct answers Owners' investment in the business. Theoretically...

Accounting 101 - Exam 1 Questions and answers latest update 2024