ACC 556 OUTLET Focus Dreams-acc556outlet.com

1
ACC 556 OUTLET Focus Dreams-acc556outlet.com

• FOR MORE CLASSES VISIT
• www.acc556outlet.com

2
ACC 556 All Chapter Quizzes   FOR MORE CLASSES
VISIT www.acc556outlet.com  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)ACC 556 Chapter 7 Quiz (100 Score)
3
ACC 556 Chapter 1 Quiz (100 Score)   FOR MORE
CLASSES VISIT www.acc556outlet.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.
4
ACC 556 Chapter 2 Quiz (100 Score)   FOR MORE
CLASSES VISIT www.acc556outlet.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.
5
ACC 556 Chapter 3 Quiz (100 Score)   FOR MORE
CLASSES VISIT www.acc556outlet.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.
6
ACC 556 Chapter 4 Quiz (100 Score)   FOR MORE
CLASSES VISIT www.acc556outlet.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.
7
ACC 556 Chapter 5 Quiz (100 Score)   FOR MORE
CLASSES VISIT www.acc556outlet.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. Question 2  The terms 2/10, net/30 mean
that a 2 percent discount is allowed on payments
made within the 10 days discount period.
8
ACC 556 Chapter 6 Quiz (100 Score)   FOR MORE
CLASSES VISIT www.acc556outlet.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. Question 2   Goods held on consignment
should be included in the consignors ending
inventory
9
ACC 556 Chapter 7 Quiz (100 Score)   FOR MORE
CLASSES VISIT www.acc556outlet.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.
10
ACC 556 Chapter 8 Quiz (100 Score)   FOR MORE
CLASSES VISIT www.acc556outlet.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.
11
ACC 556 Chapter 9 Quiz (100 Score)   FOR MORE
CLASSES VISIT www.acc556outlet.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.
12
ACC 556 Chapter 10 Quiz (100 Score)   FOR MORE
CLASSES VISIT www.acc556outlet.com Chapter 10
Quiz Question 1  A current liability must be paid
out of current earnings. Question 2  Most notes
are not interest bearing. Question 3  Unerned
revenues are received before goods are delivered
or services are rendered.
13
ACC 556 Chapter 11 Quiz (100 Score)   FOR MORE
CLASSES VISIT www.acc556outlet.com Chapter 11
Quiz   Question 1   A current liability must be
paid out of current earnings. Question 2   Most
notes are not interest bearing
14
ACC 556 Chapter 12 Quiz (100 Score)   FOR MORE
CLASSES VISIT www.acc556outlet.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. Question 2  The
activity from the balance sheet to be presented
in the financing activities section of the
statement of cash flows is based on an analysis
of stockholders equity only.
15
ACC 556 Chapter 13 Quiz (100 Score)   FOR MORE
CLASSES VISIT www.acc556outlet.com Chapter 13
Quiz 1.    Price-earnings ratio2.    Return on
assets3.    Accounts receivable turnover
ratio4.    Earnings per share5.    Payout ratio
16
ACC 556 Chapter 21 Quiz (100 Score)   FOR MORE
CLASSES VISIT www.acc556outlet.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.
17
ACC 556 Chapter 22 Quiz (100 Score)   FOR MORE
CLASSES VISIT www.acc556outlet.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.
18
ACC 556 Final Part 1 (100 Correct Answers)   FOR
MORE CLASSES VISIT www.acc556outlet.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
19
ACC 556 Final Part 1 and 2   FOR MORE CLASSES
VISIT www.acc556outlet.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
20
ACC 556 Final Part 2 (100 Correct
Answers)   FOR MORE CLASSES VISIT www.acc556outlet
.com Final  Part 2 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.
21
ACC 556 Midterm Part 1 (100 Correct
Answers)   FOR MORE CLASSES VISIT www.acc556outlet
.com ACC 556 - Midterm part 1  
Question 1 Source documents can provide evidence t
hat a transaction has occurred  
Question 2 Expense recognition is tied to revenue 
recognition.
22
ACC 556 Midterm Part 1 and 2   FOR MORE CLASSES
VISIT www.acc556outlet.com ACC 556 - Midterm part 
1 Question 1 Source documents can provide eviden
ce that a transaction has occurred  
Question 2 Expense recognition is tied to revenue 
recognition.
23
ACC 556 Midterm Part 2 (100 Correct Answers)
  FOR MORE CLASSES VISIT www.acc556outlet.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
24
ACC 556 Week 6 Assignment 1 Financial Analysis
(4 Papers, Apple, Lowe's, Mc Donalds,
Walmart)   FOR MORE CLASSES VISIT www.acc556outlet
.com This Tutorial contains 4 Different Papers
(Apple, Lowe's, Mc Donalds, Walmart)ACC 556 Week
6 Assignment 1 Financial AnalysisAssignment
1 Financial Analysisworth 160 pointsUse the
Internet or Str databases to research one
25
ACC 556 Week 10 Assignment 2 Budget Planning and
Control (3 Papers)  FOR MORE CLASSES
VISIT www.acc556outlet.com This Tutorial contains
3 Different PapersAssignment 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.Write a three to four (3-4) page
paper in which you
26
ACC 556 OUTLET Focus Dreams-acc556outlet.com

• FOR MORE CLASSES VISIT
• www.acc556outlet.com