Related Topics
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What is stockholders equity?
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Whats revenue?
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What are expenses?
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Which of the following is NOT true regarding ERP?
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ERP systems capture:
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An example of QUALITATIVE data is:
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Permanent accounts are found on the Balance Sheet section of the work sheet.
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Income Summary has a normal debit balance.
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Closing or clearning accounts refers to forcing temporary accounts to have zero balances.
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Which of the following is/are a purpose of adjusting entries?
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Which of the following is an adjunct account?
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When using the periodic inventory system, the main reason for the adjusting the asset account Merchandise Inventory in two steps is
The accounts department is one of the most important in an organization. An organization has a lot of transaction that lead to change the status of a company. Today we covered how to adjust different entries in the books of...
Questions: 40 | Attempts: 860
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Which of the following is/are a purpose of adjusting entries?
Chapter 1 Accounting Questions. using for self-study.
Questions: 14 | Attempts: 719
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Users
of financial reports include all of the following except
Book keeping is very essential to any business that wants to keep track of its costs and income. The process does not look so complicated in a sole proprietorship when compared to a large company. Test your knowledge of book...
Questions: 5 | Attempts: 698
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Book keeping is a systematic method of recording the __________ in the books of accounts
Questions: 7 | Attempts: 636
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Planning, recording, analyzing, and interpreting financial information is called...
The accounting midterm exam is coming up and as promised these quiz consists of the first five true or false questions you will be expected to answer on 19/3/2918. Give them a try and continue with your revision for the...
Questions: 5 | Attempts: 621
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The accounting standard setting authority for the federal government is the Governmental Accounting Standards Board (GASB).
During manufacturing of a product different factors go into choosing what input to use during the manufacturing of a product. Take up this quiz on overhead costs when it comes to job costing and see if you are prepared for...
Questions: 11 | Attempts: 564
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Which comes third in the flow of costs?
Questions: 13 | Attempts: 531
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A U.S. company has many foreign subsidiaries and wants to convert its consolidated financial statements from U.S. GAAP to IFRS. Which of the following items is not one of the likely accounting issues to resolve for the opening IFRS balance sheet?
Quick books are the most used accounting software in the world. No matter how simple your organization the need to keep accurate books of account is important and this software helps you achieve that. How conversant are you...
Questions: 35 | Attempts: 516
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What does the term "Double entry accounting" mean?
Are you looking for revision material for the upcoming accounting exam? This quiz is the fifth in a collection of practice quizzes that ensure your chances of failing are next to nil. Continue taking them and note down the...
Questions: 10 | Attempts: 512
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In the United States, foreign companies filing annual reports with the SEC that are not prepared in accordance with U.S. GAAP must:
Questions: 30 | Attempts: 510
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A document which is used to track how much an employee works on each job in a factory is called the:
Choose the right answer
Questions: 20 | Attempts: 426
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In a perpetual inventory system, the cost of inventory sold is
As an accounting student you need to ensure that you are up to date with what you cover in class every day. Having just finished up topic four, this first quiz here helps you review all the topics and highlights what you need...
Questions: 18 | Attempts: 426
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On January 1, 2006 Mammoth Corporation had retained earnings of $4,000,000. During 2006, they had net income of $750,000 and dividends of $100,000. What is the amount of Mammoth's retained earnings at the end of 2006?
Exams give everyone a thought that they are not fully prepared. Having done a mock exam in class in preparation for the finals this review questions cover some concepts that you should ensure you understand fully. Give it a...
Questions: 5 | Attempts: 410
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If goods in transit are shipped FOB destination,
Questions: 25 | Attempts: 376
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When the firm tests 9,000 components during the month, based on the information in Table M4-1, the amount of overhead applied during the period for the quality pool is:
This quiz is intended to find out how much the students know about business from their daily experiences.
Questions: 3 | Attempts: 366
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What is the primary reason why businesses are setup?
If you are planning to be a successful accountant you must ensure you have all the vocabularies used in the field in your mind together with the meanings. Do you believe you know them all? Take up this very easy quiz and...
Questions: 16 | Attempts: 363
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Planning, recording, analyzing, and interpreting financial information
Questions: 25 | Attempts: 349
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The salary of a corporate office security guard is considered a(n):
Take this quiz to test your knowledge of basic Accounting principles.
Questions: 5 | Attempts: 343
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Something that you own is called a(n)
Practical accounting 1
Questions: 5 | Attempts: 340
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1. Alpha Company provided the following information relating to the
current year:
Net
income 3,500,000
Unrealized
gain on available for sale securities 250,000
Foreign
currency translation adjustment – credit 50,000
Revaluation
surplus 1,000,000
Choose the answer. True or False
Questions: 15 | Attempts: 339
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Cash equivalents would include
investments in marketable equity securities as long as management intends
to sell the securities in the next three months.
Questions: 25 | Attempts: 336
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Based on the information in Table M5-2, assuming Laramie Tack & Saddle uses the high-low method to separate mixed costs, if the company processes 4,100 packages during July, the total variable cost will be:
Questions: 18 | Attempts: 315
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The SEC has usually restricted its role in establishing accounting principles to
Questions: 25 | Attempts: 307
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Traditionally, financial accounting information has focused primarily on:
This quiz consists of the first 5 True/False questions from our final exam, which covers Chapters 6, 7, 8 & 10 and is scheduled for 5/14/08.
Questions: 4 | Attempts: 302
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Like other governmental funds, proprietary funds have no emphasis on income measurement.
T.t.t.t.t .t. .t. t. .t .t.
Questions: 60 | Attempts: 299
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Under U.S. tax laws, how
are taxes paid by U.S. corporations to foreign governments treated?
Test your knowledge of:
IAS
16, Property Plant & Equipment
IAS
38, Intangible Fixed AssetsIAS 36, Impairment of Assets
IAS
40, Investment Property
IAS
17, LeasesIAS 2, Inventories
Questions: 15 | Attempts: 298
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What are the two key criteria for an item of property,
plant & equipment to be “recognised” as an asset? (IAS 16)
Questions: 25 | Attempts: 296
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The analysis of the relationship between what a company buys an item for and the level of sales and their impact on income is known as:
As we have finish covering the topic of job costing it is important to remind ourselves of what we have covered so far and the journal entries for the different changes. Give this simple quiz a try and see what you can...
Questions: 11 | Attempts: 288
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The journal entry needed to record the receipt of a bill from the company’s marketing agency would include a:
Nowadays for you to be an accountant you must take certain tests to qualify as one. You must also belong to a body of accountants so as to be licensed to practice accounting. Are you studying to become an accountant? Take...
Questions: 40 | Attempts: 281
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A formal written statement of management's plans for the future, expressed in financial terms, is a:
Questions: 10 | Attempts: 279
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Which one of the following forms is used when companies have filed with the SEC for less than 36 months but are not large enough to file form S-3?
