Acc 200 - Study guides, Class notes & Summaries

ACC 200 Exam (NCSU Test #2 Managerial ACC (ch 1-5)); Questions & Answers 100% Verified Planning Activities Correct answer-Involve the development of both short- term and longterm objectives and goals, and the identification of the resources needed to achieve them. Operating Activities Correct answer-Involve the activities that management must do to run the business on a day-to- day basis. Controlling Activities Correct answer-Involve the motivation and monitoring of employees and othe...

ACC 200 Exam; Questions & Answers 100% Verified What are the three types of businesses? Correct answer-Service, Merchandising, Manufacturing What does a service business do? Correct answer-Provides services to customers (does not sell goods). What does a merchandising business do? Correct answer-Buys finished goods and sells them to customers. What does a manufacturing business do? Correct answer-Makes/manufactures the products they sell

UIUC Acc 200 Exam 2 Questions and Answers Already Passed Managerial accounting, in contrast to financial accounting, primarily focuses on: A) Assessing the overall financial health of the organization. B) Adhering to established accounting principles. C) Looking ahead to future strategies. D) Providing information to investors and creditors. E) Determining precise outcomes. Looking ahead to future strategies Activities included in a widely accepted definition of the management pr...

ACC 200 Final Exam; Questions & Answers 100% Verified Receivables turnover ratio Correct answer-net credit sales / average accounts receivables Inventory turnover ratio Correct answer-costs of goods sold / average inventory Current ratio Correct answer-current assets / current liabilities Debt to equity ratio Correct answer-total liabilities / stockholders' equity Times interest earned ratio Correct answer-net income + interest expense + tax expense / interest expense

Acc 200 SB9A Questions and Answers 100% Pass 1. Regarding the financial impacts of recognizing cost of goods sold: Reduces current assets. Reduces net income. Increases expenses. Explanation: Recognition of cost of goods sold lowers the value of inventory on the balance sheet, thereby reducing net income by increasing expenses. 2. In a company with a 40 percent gross profit ratio, given Net sales = $200,000 and Cost of goods available for sale = $170,000, which statements are...

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ACC 200 Exam 1 BYU Independent Study questions and answers 2025 already graded A+