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At the date of an acquisition which is not a bargain purchase, the acquisition method
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2. In an acquisition where control is achieved, how would the land accounts of the parent and the land accounts of the subsidiary be combined?
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Using the acquisition method for a business combination, goodwill is generally defined as:
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The two basic types of cost accounting systems are:
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Omega Contractors manufactures each house to customer specifications. It most likely would use:
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A job cost sheet shows information about each of the following items except:
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What is the full meaning of GAAP?
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All financial transactions of companies is recorded by:
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Double entry means:
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Financial statement analysis involves all of the following except:
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The building blocks of financial statement analysis do not include:
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The ability to meet short term obligations and to efficiently generate revenues is called:
Questions: 15 | Attempts: 6
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Sample QuestionFinancial statement analysis involves all of the following except:
Questions: 10 | Attempts: 45
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Sample QuestionGoods a business purchases to sell are called capital?
Questions: 29 | Attempts: 12
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Sample QuestionThe Accounting Equation is: ASSETS = LIABILITIES + OWNER'S EQUITY OR ASSETS - LIABILITIES = OWNER'S EQUITY
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Questions: 30 | Attempts: 30
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Sample QuestionThe Accounting Equation is: ASSETS = LIABILITIES + OWNER'S EQUITY OR ASSETS - LIABILITIES = OWNER'S EQUITY
Financial Accounting is a field concerned with analysis, reports and summary of financial transactions of a business. It is governed by both international and local accounting standards. It is a wide field which has got the...
Questions: 10 | Attempts: 100
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Sample QuestionFinancial accounting belongs to what field?
Cost accounting is a process of classifying, recording, analyzing summarizing, evaluating and assigning different courses of action for cost control. With that point made, how well ro you think you'll pass this quiz.
Questions: 10 | Attempts: 100
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Sample QuestionCost accounting information is commonly used in?
CMU-CBM 2017-2018
Questions: 32 | Attempts: 66
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Sample QuestionThe process of understanding and specifying in detail what the information system should accomplish is called systems ____.
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Sample QuestionWhich of the following is NOT considered one of the Big 4 Accounting Firms? (The Big 4 are firms that we often receive requests for data feeds for their new employees who are also Wells Fargo Advisor clients.)
Questions: 5 | Attempts: 5
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Sample QuestionFinancial Statements do not consider
To check the basic accounting knowledge of the participant.
Questions: 21 | Attempts: 95
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Sample QuestionProfit is equal to:
Questions: 50 | Attempts: 73
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Sample QuestionThe goal of managerial accounting is to provide the information that managers need for all of the following EXCEPT:
Questions: 96 | Attempts: 8
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Sample QuestionFinancial users.
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Sample Question1.1. One of IASB’s responsibilities is to enforce the implementation of its standards to ensure that the objective of high quality financial reporting is achieved
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Sample QuestionWhat is an adjustment made to accounts due to changes in accounting policies or errors?
Can you answer these simple questions on accounting? Let's play this and prove yourself now!
Questions: 35 | Attempts: 27
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Sample QuestionRyan, Inc., uses straight-line depreciation for all of its depreciable assets. Ryan sold a used piece of machinery on December 31, 2012, that it purchased on January, 2011, for $10,000. The asset had a five-year life, zero risidual value, and $2,000 accumulated depreciation as of december 31, 2011. If the sales price of the used machine was $6,500, the resulting gain or loss upon the sale was which of the following amounts?
Take this quiz to learn more Account.
Questions: 23 | Attempts: 39
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Sample QuestionThe most useful financial statement for analyzing a company’s profitability is the:
Questions: 100 | Attempts: 23
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Sample QuestionA master budget comprises :
It is important for any business to have correct books of accounts that reflect a true and fair view of their financial position. There is much that goes into preparing the books of account. Take up quiz below and test your...
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Sample QuestionAccounts receivable are
Questions: 16 | Attempts: 8
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Sample QuestionWhat is the main disadvantage of being a sole proprietor?
This Accounting quiz is to test your Accounting knowledge. Attempt to answer all questions correctly. To view the questions, please click the Accounting SET 1 questions on this web page. Input your answer selection or option in...
Questions: 50 | Attempts: 10
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Sample Question1. choose your answer here.
This Quiz is to test your accounting information, its an advanced questions.After you finish, you will review your answers before submit and then you will get your result with analysis & correct answer.Financial Accounting...
Questions: 15 | Attempts: 22
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Sample QuestionA manufacturing company recognized a valuation provision to inventories due to their obsolescence. Can the manufacturing offsetting inventory valuation provision against inventory balance in the statement of financial position?
This Quiz is to test your accounting information, its an advanced questions.After you finish, you will review your answers before submit and then you will get your result with analysis & correct answer.Financial Accounting...
Questions: 10 | Attempts: 124
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Sample QuestionWhat is the basic principle for measuring inventories ?
Financial Accounting 1
Questions: 7 | Attempts: 10
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Sample QuestionWhat is stockholders' equity?
Basic accounting entails knowing what is being debited and what is being credited to an account. Other than that there is knowledge of how to treat the different transactions in the company’s books. Test your basic...
Questions: 10 | Attempts: 28
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Sample QuestionWhat type of account is Allowance for Doubtful Accounts?
Take this quiz to test your knowledge of basic Accounting principles.
Questions: 5 | Attempts: 10
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Sample QuestionSomething that you own is called a(n)
Financial Accounting 1
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Sample QuestionWhat is stockholders' equity?
Questions: 12 | Attempts: 6
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Sample QuestionWhat is Accounting?Accounting is an Information System:
Play this quiz to know perfectly how to fill a cheque.
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Sample QuestionHow many lines are there on a cheque that you need to fill out?
