Pack
accounting 5110 exam bundle ( A+ graded and with accurate solutions)
accounting 5110 exam bundle ( A+ graded and with verified solutions)
[Montrer plus]accounting 5110 exam bundle ( A+ graded and with verified solutions)
[Montrer plus]long-term liabilities - ANSconsist of probable future sacrifices of economic benefits arising from present obligations that are not payable within a year or the operating cycle of the company, whichever is longer. 
 
examples of long term liabilities - ANSBonds payable 
Notes payable 
Mortgages pa...
Aperçu 2 sur 6 pages
Ajouter au panierlong-term liabilities - ANSconsist of probable future sacrifices of economic benefits arising from present obligations that are not payable within a year or the operating cycle of the company, whichever is longer. 
 
examples of long term liabilities - ANSBonds payable 
Notes payable 
Mortgages pa...
five step revenue recognition process - ANS1. identify the contract with the customer 
2. identify the performance obligations (single or multiple) 
3. determine the transaction price 
4. allocated the transaction price (all at once or a period in time) 
5. recognize revenue when or as the entity ...
Aperçu 1 sur 3 pages
Ajouter au panierfive step revenue recognition process - ANS1. identify the contract with the customer 
2. identify the performance obligations (single or multiple) 
3. determine the transaction price 
4. allocated the transaction price (all at once or a period in time) 
5. recognize revenue when or as the entity ...
Which of the following statements is INCORRECT concerning traditional ABC? 
A. It assigns only the cost of used capacity to products 
B. All of these statements are correct 
C. It is expensive to build and maintain 
D. It provides better results than a system which uses volume-based drivers 
E. It i...
Aperçu 3 sur 23 pages
Ajouter au panierWhich of the following statements is INCORRECT concerning traditional ABC? 
A. It assigns only the cost of used capacity to products 
B. All of these statements are correct 
C. It is expensive to build and maintain 
D. It provides better results than a system which uses volume-based drivers 
E. It i...
What is meant by the phrase efficient allocation of resources? What mechanism fosters the efficient allocation of resources in the United States? - ANSResources are efficiently allocated if they are given to enterprises that will use them to provide goods and services desired by society and not to ...
Aperçu 2 sur 7 pages
Ajouter au panierWhat is meant by the phrase efficient allocation of resources? What mechanism fosters the efficient allocation of resources in the United States? - ANSResources are efficiently allocated if they are given to enterprises that will use them to provide goods and services desired by society and not to ...
Which of the following is not considered cash for financial reporting purposes? 
a. Petty cash funds and change funds 
b. Money orders, certified checks, and personal checks 
c. Coin, currency, and available funds 
d. Postdated checks and I. O. U.'s - ANSd 
 
Which of the following is considered c...
Aperçu 2 sur 10 pages
Ajouter au panierWhich of the following is not considered cash for financial reporting purposes? 
a. Petty cash funds and change funds 
b. Money orders, certified checks, and personal checks 
c. Coin, currency, and available funds 
d. Postdated checks and I. O. U.'s - ANSd 
 
Which of the following is considered c...
Nina Corp. had the following net income (loss) the first three years of operation: $7,200, ($1,000), and $2,400. If the Retained Earnings balance at the end of year three is $500, what was the total amount of dividends paid over these three years? - ANS$8,100 (7200-1000+2400-500) 
 
Use the followi...
Aperçu 1 sur 4 pages
Ajouter au panierNina Corp. had the following net income (loss) the first three years of operation: $7,200, ($1,000), and $2,400. If the Retained Earnings balance at the end of year three is $500, what was the total amount of dividends paid over these three years? - ANS$8,100 (7200-1000+2400-500) 
 
Use the followi...
Nina Corp. had the following net income (loss) the first three years of operation: $7,200, ($1,000), and $2,400. If the Retained Earnings balance at the end of year three is $500, what was the total amount of dividends paid over these three years? - ANS$8,100 (7200-1000+2400-500) 
 
Use the followi...
Aperçu 2 sur 7 pages
Ajouter au panierNina Corp. had the following net income (loss) the first three years of operation: $7,200, ($1,000), and $2,400. If the Retained Earnings balance at the end of year three is $500, what was the total amount of dividends paid over these three years? - ANS$8,100 (7200-1000+2400-500) 
 
Use the followi...
What is the downside of using accrual accounting versus cash-basis accounting discussed in the lecture? 
-Accrual accounting provides poorer information about past performance. 
-Accrual accounting is less predictive in terms of future performance than cash-basis accounting. 
-Accrual accounting i...
Aperçu 2 sur 15 pages
Ajouter au panierWhat is the downside of using accrual accounting versus cash-basis accounting discussed in the lecture? 
-Accrual accounting provides poorer information about past performance. 
-Accrual accounting is less predictive in terms of future performance than cash-basis accounting. 
-Accrual accounting i...
Liabilities are 
a. any accounts having credit balances after closing entries are made. 
b. deferred credits that are recognized and measured in conformity with generally 
accepted accounting principles. 
c. obligations to transfer ownership shares to other entities in the future. 
d. obligations ar...
Aperçu 4 sur 39 pages
Ajouter au panierLiabilities are 
a. any accounts having credit balances after closing entries are made. 
b. deferred credits that are recognized and measured in conformity with generally 
accepted accounting principles. 
c. obligations to transfer ownership shares to other entities in the future. 
d. obligations ar...
legal capital is best defined as 
a. the amount of capital the state of incorporation allows the company to accumulate 
a corporate form of business organization, legal capital is best defined as 
over its existence. 
b. the par value of all capital stock issued. 
c. the amount of capital the feder...
Aperçu 2 sur 13 pages
Ajouter au panierlegal capital is best defined as 
a. the amount of capital the state of incorporation allows the company to accumulate 
a corporate form of business organization, legal capital is best defined as 
over its existence. 
b. the par value of all capital stock issued. 
c. the amount of capital the feder...
Which of the following is a limitation of the balance sheet? 
a. Many items that are of financial value are omitted. 
b. Judgments and estimates are used. 
c. Current fair value is not reported. 
d. All of these - ANSd 
 
The balance sheet is useful for analyzing all of the following except 
a. liq...
Aperçu 2 sur 12 pages
Ajouter au panierWhich of the following is a limitation of the balance sheet? 
a. Many items that are of financial value are omitted. 
b. Judgments and estimates are used. 
c. Current fair value is not reported. 
d. All of these - ANSd 
 
The balance sheet is useful for analyzing all of the following except 
a. liq...
Les clients de Stuvia ont évalués plus de 700 000 résumés. C'est comme ça que vous savez que vous achetez les meilleurs documents.
Vous pouvez payer rapidement avec iDeal, carte de crédit ou Stuvia-crédit pour les résumés. Il n'y a pas d'adhésion nécessaire.
Vos camarades écrivent eux-mêmes les notes d’étude, c’est pourquoi les documents sont toujours fiables et à jour. Cela garantit que vous arrivez rapidement au coeur du matériel.
Vous obtenez un PDF, disponible immédiatement après votre achat. Le document acheté est accessible à tout moment, n'importe où et indéfiniment via votre profil.
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Stuvia est une place de marché. Alors, vous n'achetez donc pas ce document chez nous, mais auprès du vendeur nighthawk117. Stuvia facilite les paiements au vendeur.
Non, vous n'achetez ce résumé que pour $20.49. Vous n'êtes lié à rien après votre achat.
4.6 étoiles sur Google & Trustpilot (+1000 avis)
94340 résumés ont été vendus ces 30 derniers jours
Fondée en 2010, la référence pour acheter des résumés depuis déjà 14 ans