BCOR 3010 bundled exams 2023- questions with complete solutions

Accounting Rules followed in USA US GAAP Accounting Regulator SEC Standard Setter FASB Asset Definition probable future economic benefits obtained or controlled as a result of past transactions or events Cash Asset Inventory Asset AR Asset Prep...

Debt to Equity Total liabilities/total equity Debt to Total Asset total liabilities/total assets Long-term Debt to equity long term debt/total equity PIT Principal x Interest x Time Common Stock Preferred Stock, Common Stock, Additional Paid-in Captial RM used...

Milgram Experiments You will push further when you don't see the victim What can you do? 1) Recognize problem 2) Name values implicated 3) What values can conflict 4) What will you do? 5) Act on them Value Desirable principle or quality Ethical decision making theories...

What is accounting? A language used to communicate financial information- used by stakeholders to make decisions. Financial Accounting the branch of accounting that prepares financial statements for use by owners, creditors, suppliers, and other external stakeholders Managerial Accou...

Managerialism running firm for management benefit NOT shareholder's Corporate Governance relationship between • management • board • shareholders 00:04 01:08 BOD Board Of Directors oversee CEO and senior management Management operate the business Th...

values desirable principles or qualities ethics your beliefs (come from inside of you) about what is wrong/right and good/bad, especially in actions that affect others 00:05 01:08 business ethics full awareness of what one is doing, its consequences of your decisons ...

Which financial statement describes the financial position of a company at a particular point in time? Balance sheet During 2021, Moss Corp. made $150,000 in cash payments to employees for wages. In which section of the statement of cash flows will this cash flow appear? Operating section ...

Accounting The process of identifying, measuring, recording, and communicating financial information Balance Sheet financial statement describes a company's financial position at a particular point in time Income statement financial statement that reports the profitability of a bus...