Peregrine exam 2 - Study guides, Class notes & Summaries

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What is a general ledger? - ANSWER A general ledger account is an account or record used to sort, store and summarize a company's transactions. asset accounts such as Cash, Accounts Receivable, Inventory, Investments, Land, and Equipment liability accounts including Notes Payable, Accounts Payable, Accrued Expenses Payable, and Customer Deposits stockholders' equity accounts such as Common Stock, Retained Earnings, Treasury Stock, and Accumulated Other Comprehensive Income

PEREGRINE EXAM 2024/2025 LATEST VERSION | INCLUDES 2 RECENTLY TESTED EXAMS, A TEST BANK AND A STUDY GUIDE | GRADED A+ PEREGRINE EXAM 2024/2025 LATEST VERSION | INCLUDES 2 RECENTLY TESTED EXAMS, A TEST BANK AND A STUDY GUIDE | GRADED A+ PEREGRINE EXAM 2024/2025 LATEST VERSION | INCLUDES 2 RECENTLY TESTED EXAMS, A TEST BANK AND A STUDY GUIDE | GRADED A+

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Accounting Peregrine Exam Questions with Complete Answers Conservatism Principle - Answer-the approach of choosing an accounting method that will least likely overstate assets and net income Basic Financial Statements - Answer-income statement, balance sheet, cash flow statement Assets - Answer-resources owned by a business current assets - Answer-items that can or will be converted into cash within one year Long-term investments - Answer-are generally (1) investments in stock...

1 / 6 Peregrine Exam 2024 Which of the following is NOT a strategic alternative to laying off employees? KJ built his taco truck out of $75,000,000 worth of titanium and duct tape. He uses $10.25 of organic bok choy, $6.75 of Wisconsin cheddar cheese, and $25.25 of foie gras in each taco. If he sells tacos at $475 each, what is his break-even quantity? implementing a restricted hiring policy downsizing the workforce lowering employment standards mandating reduced hours Lowering Emplo...

What is a general ledger? - ANSWER A general ledger account is an account or record used to sort, store and summarize a company's transactions. asset accounts such as Cash, Accounts Receivable, Inventory, Investments, Land, and Equipment liability accounts including Notes Payable, Accounts Payable, Accrued Expenses Payable, and Customer Deposits stockholders' equity accounts such as Common Stock, Retained Earnings, Treasury Stock, and Accumulated Other Comprehensive Income What ...