Journal entries chapter 5 - Study guides, Class notes & Summaries

Chapter 5—Adjusting Entries and the Work Sheet 1. The matching of assets and expenses of a business on a periodic basis is referred to as the matching concept. a. True b. False ANSWER: POINTS: DIFFICULTY: LEARNING OBJECTIVES: ACCREDITING STANDARDS: TOPICS: KEYWORDS: NOTES: False 1 Easy COLL.HEIN.17.18 - LO: 5-1 AICPA FN-Measurement BUSPROG: Communication ACBSP: APC-02-GAAP Bloom's: Evaluating 1 min. 2. The balance sheet reports earnings on a specific date. a. True b. False AN...

CHAPTER 3: REVIEW OF A COMPANY’S ACCOUNTING SYSTEM TB_Ch03_Wahlen_Intermediate_2e_Update 1. The primary purpose of an accounting system is to record, organize. summarize, and report useful information to external financial statement users and stakeholders, as well as to company management, who make operating, investing and financing decisions. a. True b. False ANSWER: POINTS: DIFFICULTY: LEARNING OBJECTIVES: NATIONAL STANDARDS: LOCAL STANDARDS: KEYWORDS: True 1 Easy ACCT.WHAL.16.3.1 ...

PA Notary Public questions and answers 100% guaranteed success. Minimum age to become a Notary in PA - correct answer. 18 years of age What is maximum amount of time to record bond, oath of office and commission at the Recorder of Deeds in the county which the notary maintains an office? - correct answer. 45 Days Under RULONA, what amount must surety bond from insurance company licensed in PA in? - correct answer. $10,000 RULONA requires a surety company pr...

Conceptual and Case Analysis Frameworks for Financial Reporting Multiple Choice Questions 1. Which of the following would NOT be a reason to obtain a greater understanding of accounting practices in other nations? A. Financial results are disclosed in different currencies. B. One needs to be aware of differing disclosure requirements from nation to nation, as this impacts the preparation of financial statements. C. Income-smoothing may have affected a foreign subsidiary's results; such smo...

CHAPTER 03 - THE ADJUSTING PROCESS 1. Even though GAAP requires the accrual basis of accounting, some businesses prefer using the cash basis of accounting. a. True b. False ANSWER: DIFFICULTY: LEARNING OBJECTIVES: ACCREDITING STANDARDS: True Moderate Bloom's: Remembering FNMN.WARD.16.03-01 - LO: 03-01 ACCT.ACBSP.APC.02 – GAAP ACCT.AICPA.FN.03 – Measurement BUSPROG: Analytic 2. Generally accepted accounting principles require accrual-basis accounting. a. True b. False ANSWER: DIFFI...

TEST BANK FOR PHARMACOLOGY CLEAR AND SIMPLE A GUIDE TO DRUG CLASSIFICATIONS AND DOSAGE CALCULATIONS 4TH EDITION BY CYNTHIA WATKINS | ALL CHAPTER 1-21| COMPLETE LATEST GUIDE. Chapter 1. History of Pharmacology MULTIPLE CHOICE 1. The Greek word pharmakon means which of the following? a. Medicine b. Poison c. Remedy d. Medicine, poison, and remedy ANS: D Rationale: The word pharmakon refers to the curing of illness, thus meaning medicine and remedy, as well as poison because early medicin...

Test Bank for Understanding the Accounting Cycle, 2nd Edition - Latest Update Master the Accounting Cycle and Guarantee Your Success! Are you studying accounting and want to ensure that you master the accounting cycle? The Test Bank for Understanding the Accounting Cycle, 2nd Edition is your essential resource for mastering key accounting concepts and ensuring success in your exams. Perfectly aligned with the latest updates to the 2nd edition, this test bank is designed to help students like...

Chapter 03 1. Which of the following is/are not true about a proper journal entry? a. An explanation is needed immediately after each debit and immediately after each credit. b. All credits are indented. c. A debit is never indented, even if a liability or owner's equity account is involved. d. All debits are listed before the first credit. e. In a compound entry, the largest amounts are listed first. ANSWER: POINTS: DIFFICULTY: LEARNING OBJECTIVES: NATIONAL STANDARDS: STATE STANDARD...

PA Notary Exam Questions and Answers Already Passed Minimum age to become a Notary in PA 18 years of age What is maximum amount of time to record bond, oath of office and commission at the Recorder of Deeds in the county which the notary maintains an office? 45 Days Under RULONA, what amount must surety bond from insurance company licensed in PA in? $10,000 RULONA requires a surety company provide the Department of State how many days notice before canceling the bond? 30 Days The department ...

AIS Chapter 2 Test Questions and Answers All Correct Which system is not part of the expenditure cycle? a. cash disbursements b. payroll c. production planning/control d. purchases/accounts payable - Answer-c. production planning/control 2. Which system produces information used for inventory valuation, budgeting, cost control, performance reporting, and make-buy decisions? a. sales order processing b. purchases/accounts payable c. cash disbursements d. cost accounting - A...