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. Question 3  The
primary purpose of the statement of cash flows is
to provide information about the cash receipts
and cash payments of a company for a specific
period of time.
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. Question
3  Net cash provided by operating activities
takes into account that a company must invest in
capital expenditures just to maintain its current
level of operations.
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.  Question 3 Revenues
are a subdivision of stockholders equity.
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.
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  Question 3  If a company has no
beginning inventory and the unit cost of
inventory items does not change during the year,
the value assigned to the ending inventory will
be the same under LIFO and average cost flow
assumptions
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. Question 2   Allowance for Doubtful
Accounts is a contra account that is deducted
from Accounts Receivable on the balance sheet.
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. 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.
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   Unearned 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  Question
3  Uneaned revenues are received before goods are
delivered or services are rendered.
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
ratio6.    Current cash debt coverage
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. Question 3  Financial budgets
must be completed before the operating budgets
can be prepared.
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. Question 3  Management by exception
means that management will investigate areas
where actual results differ from planned results
if the items are material and controllable.
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. Sales                         
                        1,400,000
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.   Questio 3 To obtain maximum benef
it from a bank reconciliation, the reconciliation 
should be prepared by the employee authorized to s
ign checks.  
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 (1)
publicly traded company and review its last
annual report. Use an investors view to perform
financial analysis
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
26
ACC 556 OUTLET Focus Dreams-Acc556outlet.com
FOR MORE CLASSES VISIT www.acc556outlet.com