ACCT 304 Midterm Exam

ACCT 304 DEVRY MIDTERM EXAM

ACCT 304 DeVry Week 4 Midterm Exam

1. (TCO 1) Which of the following has the authority to set accounting standards in the United States?

2. (TCO 2) The conceptual framework’s qualitative characteristic of faithful representation includes:

3. (TCO 3) A sale on account would be recorded by:

4. (TCO 3) When a tenant makes an end-of-period adjusting entry credit to the “Prepaid rent” account:

5. (TCO 3) Permanent accounts would not include:

6. (TCO 4) Noncurrent assets include:

7. (TCO 4) The acid-test ratio is also known as the:

8. (TCO 5) Popson Inc. incurred a material loss which was not unusual in character, but was clearly an infrequent occurrence. This loss should be reported as:

9. (TCO 5) On June 1, 2013, Romano Inc. changed the estimated useful life of its office equipment from 20 to 12 years. This change would be accounted for:

10. (TCO 5) In the operating activities section of the statement of cash flows, we start with net income:

11. (TCO 5) The Maytag Corporation’s income statement includes income from continuing operations, a loss from discontinued operations, and extraordinary items. Earnings per share information would be provided for:

12. (TCO 5) Expenses in an get more info income statement prepared under International Financial Reporting Standards:

13. (TCO 4) The balance sheet reports:

14. (TCO 4) Which of the following groups is not among the external users for whom financial statements are prepared?

1. (TCO 5) What would be Misty’s net income for the current year?

2. (TCO 4) Listed below are account balances (in $millions) taken from ACCT304DeVryMidtermExam the records of Symphony Stores. All of these are permanent accounts, except the last click here two that have yet to be closed. The installment receivables are current. Symphony uses

1. (TCO 4) Briefly explain the purpose of the disclosure note on significant accounting policies. Provide two examples of what might be found in this note.

2. (TCO 2) What is the SEC and how is it involved with accounting standard setting?

3. (TCO 5) Give an example of a non-cash financing and investing activity and explain when and how it would be reported in the financial statements

4. (TCO 3) Describe what is meant by unearned revenues and give two examples

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ACCT 301 Week 3 Discussion

ACCT 301 WEEK 3 DISCUSSION; FINANCIAL STATEMENT ANALYSIS DEVRY


ACCT 301 WEEK 3 DISCUSSION; FINANCIAL STATEMENT ANALYSIS DEVRY

Horizontal and Vertical Analysis (graded)

Ratio Analysis (graded)


ACCT 301 WEEK 3 DISCUSSION; FINANCIAL STATEMENT ANALYSIS DEVRY


ACCT 301 WEEK 3 DISCUSSION; FINANCIAL STATEMENT ANALYSIS DEVRY

Horizontal and Vertical Analysis (graded)

Ratio Analysis (graded)

ACCT 301 WEEK 3 DISCUSSION; FINANCIAL STATEMENT ANALYSIS DEVRY


ACCT 301 WEEK 3 DISCUSSION; FINANCIAL STATEMENT ANALYSIS DEVRY

Horizontal and Vertical Analysis (graded)

Ratio Analysis (graded)


ACCT 301 WEEK 3 DISCUSSION; FINANCIAL STATEMENT ANALYSIS DEVRY


ACCT 301 WEEK 3 DISCUSSION; FINANCIAL STATEMENT ANALYSIS DEVRY

Horizontal and Vertical Analysis (graded)

Ratio Analysis (graded)

ACCT 301 WEEK 3 DISCUSSION; FINANCIAL STATEMENT ANALYSIS DEVRY


ACCT 301 WEEK 3 DISCUSSION; FINANCIAL STATEMENT ANALYSIS website DEVRY

Horizontal and Vertical Analysis (graded)

Ratio Analysis (graded)

Tags: ACCT ACCT301 301, ACCT ACCT 301 Week 3 Discussion 301 Week 3 Discussion, ACCT 301 Week 3 Discussion Financial Statement Analysis DeVry, ACCT301, ACCT301 Week 3 Discussion, ACCT301 Week 3 Discussion Financial Statement Analysis DeVry

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