ACC 1O1/102/202
ACC/FIN/110.
Accounting
CPA 2026/2027 BUSINESS
, ACC 212 Final Exam questions
with correct answers
2026/2027 Edition Graded A+
The primary functions of accounting are to: - ✅✅communicate
information to decision makers.
measure a company's activities.
What is managerial accounting? - ✅✅deals with the concepts and
methods used to provide information to an organization's internal
users. deals with the concepts and methods used to provide
information to an organization's internal users.
Margot starts a new business and contributes $20,000 in cash; she
also borrows $25,000 from her local bank. She utilizes the cash to
purchase supplies for $5,000 and a computer system for $10,000.
After these transactions, the total claims to the company's total
resources are - ✅✅$45,000
In May, Sea the World Cruises, Inc. collected $1,000 cash in advance
from a customer for services to be performed in June. Which of the
following is true assuming accrual accounting? - ✅✅$1,000 of
revenue should be recorded in June.
ACC/FIN/110.
Accounting
CPA 2026/2027 BUSINESS
, ACC 212 Final Exam questions
with correct answers
2026/2027 Edition Graded A+
The primary functions of accounting are to: - ✅✅communicate
information to decision makers.
measure a company's activities.
What is managerial accounting? - ✅✅deals with the concepts and
methods used to provide information to an organization's internal
users. deals with the concepts and methods used to provide
information to an organization's internal users.
Margot starts a new business and contributes $20,000 in cash; she
also borrows $25,000 from her local bank. She utilizes the cash to
purchase supplies for $5,000 and a computer system for $10,000.
After these transactions, the total claims to the company's total
resources are - ✅✅$45,000
In May, Sea the World Cruises, Inc. collected $1,000 cash in advance
from a customer for services to be performed in June. Which of the
following is true assuming accrual accounting? - ✅✅$1,000 of
revenue should be recorded in June.
