ACC 556 ASSIST Education Terms/acc556assist.com

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ACC 556 ASSIST Education Terms/acc556assist.com
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 All Chapter Quizzes FOR MORE CLASSES
VISIT www.acc556assist.com Please check the
details of Quizzes given under our product
section individually (all questions are mentioned
there)  ACC 556 Chapter 1 Quiz (100 Score)ACC
556 Chapter 2 Quiz (100 Score)ACC 556 Chapter 3
Quiz (100 Score)ACC 556 Chapter 4 Quiz (100
Score)ACC 556 Chapter 5 Quiz (100 Score)ACC
556 Chapter 6 Quiz (100 Score)
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Chapter 1 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com Chapter 1
Quiz Question 1 A business organized as a
separate legal entity owned by stockholders is a
partnership. Question 2   Accounting communicates
financial information about a business to both
internal and external users.
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Chapter 2 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com Chapter 2
Quiz Question 1   Cash and supplies are both
classified as current assets. Question
2   Earnings per share measures the net income
earned on each share of common stock.
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Chapter 3 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com Chapter 3
Quiz  Question 1 Economic events that require
recording in the financial statements are called
accounting transactions  Question 2 An account
is often referred to as a T-account because of
the way it is constructed.
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Chapter 4 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com Chapter 4
Quiz Question 1 The revenue recognition principle
dictates that revenue be recognized in the
accounting period in which the performance
obligation is satisfied. Question 2 An adjusting
entry to a prepaid expense is required to
recognize expired expenses.
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Chapter 5 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com Chapter 5
Quiz   Question 1   An advantage of using the
periodic inventory system is that it requires
less record keeping than the perpetual inventory
system.
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Chapter 6 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com Chapter 6
Quiz Question 1   Raw materials inventories are
the goods that a manufacturing company has
completed and are ready to be sold to customers.
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Chapter 7 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com Chapter 7
Quiz Question 1   The most important element of
the fraud triangle is rationalization. Question
2   Requiring employees to take vacations is a
weakness in the system of internal controls
because it does not promote operational
efficiency.
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Chapter 8 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com Chapter 8
Quiz Question 1   An aging of accounts receivable
schedule is based on the premise that the longer
the period an account remains unpaid, the greater
the probability that it will eventually be
collected.
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Chapter 9 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com Chapter 9
Quiz Question 1   The statement of cash flows is
a required statement that must be prepared along
with an income statement, balance sheet, and
retained earnings statement.
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Chapter 10 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com Chapter 10
Quiz Question 1   A current liability must be
paid out of current earnings. Question 2   Most
notes are not interest bearing.
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Chapter 11 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com Chapter 11
Quiz   Question 1   A current liability must be
paid out of current earnings. Question 2   Most
notes are not interest bearing  
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Chapter 12 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com Chapter 12
Quiz Question 1   The statement of cash flows is
a required statement that must be prepared along
with an income statement, balance sheet, and
retained earnings statement.
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Chapter 13 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com Chapter 13
Quiz 1.    Price-earnings ratio2.    Return on
assets3.    Accounts receivable turnover
ratio4.    Earnings per share5.    Payout
ratio6.    Current cash debt coverage
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Chapter 21 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com Chapter 21
Quiz Question 1   A benefit of budgeting is that
it provides definite objectives for evaluating
performance. Question 2   Effective budgeting
requires clearly defined lines of authority and
responsibility.
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Chapter 22 Quiz (100 Score) FOR MORE
CLASSES VISIT www.acc556assist.com Chapter 22
Quiz Question 1   Budget reports comparing actual
results with planned objectives should be
prepared only once a year. Question 2   A static
budget is changed only when actual activity is
different from the level of activity expected.
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Final Part 1 (100 Correct Answers) FOR
MORE CLASSES VISIT www.acc556assist.com Final 
Part 1 Question 1   Under the corporate form of
business organization Question 2   Accountants do
not attempt to measure the change in a plant
asset's market value during ownership because
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Final Part 1 and 2 FOR MORE CLASSES
VISIT www.acc556assist.com Final  Part
1 Question 1   Under the corporate form of
business organization Question 2   Accountants do
not attempt to measure the change in a plant
asset's market value during ownership
because Question 3   Budget reports provide the
feedback needed by management to see whether
actual operations are on course.
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Final Part 2 (100 Correct Answers) FOR
MORE CLASSES VISIT www.acc556assist.com Final 
Part Question 1   A manager of a cost center is
evaluated mainly on Question 2   Bogey Co.
recorded operating data for its Cheap division
for the year. Bogey requires its return to be
10. 
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Midterm Part 1 (100 Correct Answers)
FOR MORE CLASSES VISIT www.acc556assist.com ACC 
556 - Midterm part 1   Question 1 Source documen
ts can provide evidence that a transaction has occ
urred   Question 2 Expense recognition is tied t
o revenue recognition.
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Midterm Part 1 and 2 FOR MORE CLASSES
VISIT www.acc556assist.com ACC 556 - Midterm part
 1 Question 1 Source documents can provide evide
nce that a transaction has occurred  
Question 2 Expense recognition is tied to revenue 
recognition.   Question 3 To obtain maximum bene
fit from a bank reconciliation, the reconciliation
 should be prepared by the employee authorized to 
sign checks.  
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Midterm Part 2 (100 Correct Answers)
FOR MORE CLASSES VISIT www.acc556assist.com ACC
556 - Midterm part 2 Question 1?Which of these
would cause the inventory turnover ratio to
increase the most?Question 2?Bad Debt Expense
is consideredQuestion 3A trial balance
proves
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Week 6 Assignment 1 Financial Analysis (4
Papers, Apple, Lowe's, Mc Donalds, Walmart) FOR
MORE CLASSES VISIT www.acc556assist.com ACC 556
Week 6 Assignment 1 Financial Analysis Assignment
1 Financial Analysis worth 160 points Use the
Internet or Str databases to research one (1)
publicly traded company and review its last
annual report. Use an investors view to perform
financial analysis and discuss various non-
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ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 ASSIST Education Terms/acc556assist.com
ACC 556 Week 10 Assignment 2 Budget Planning and
Control (3 Papers) FOR MORE CLASSES VISIT
www.acc556assist.comAssignment 2 Budget
Planning and ControlDue Week 10 and worth 160
pointsUse the Internet and / or databases to
research budget planning and control. Imagine
that the company that you currently work for,
have previously worked for, or would like to work
for in the future has tasked you with preparing a
budget plan.
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ACC 556 ASSIST Education Terms/acc556assist.com