ACCT 3311 - Accounting: Entrance Exam
STUDY GUIDE University of Texas,
Arlington
1 of 95
Term
An examination of accounting records to determine if the records
and reports are in accordance with generally accepted accounting
standards is called
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threat assessment a compilation
, a review an audit
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2 of 95
Term
What financial document is for the specific purpose of
reporting cash flows?
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assets cash flow statement
balance sheet statement of financial position
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3 of 95
Definition
services provided is more than the cost of providing services
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Total owner's
The Accounting Equation equity is
increased
when
, What is supposed to A company reports net income
"balance" on the balance when
sheet?
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4 of 95
Definition
directly related to buying and selling assets used long term
in the business (use more than 1 year)
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The purpose of Investing Activities
Financial Accounting (statement of cash flows)
is to: (3)
Revenue recognition (accounting
Elements of financial statements principle)
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, 5 of 95
Term
What account is used to record cash collection in the
period after goods are provided?
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accounts receivable sales
cost of goods sold prepaid expenses
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6 of 95
Term
Trademarks (A, L, O, R, or E)
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Liability Asset
Revenue Sales
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STUDY GUIDE University of Texas,
Arlington
1 of 95
Term
An examination of accounting records to determine if the records
and reports are in accordance with generally accepted accounting
standards is called
Give this one a try later!
threat assessment a compilation
, a review an audit
Don't know?
2 of 95
Term
What financial document is for the specific purpose of
reporting cash flows?
Give this one a try later!
assets cash flow statement
balance sheet statement of financial position
Don't know?
3 of 95
Definition
services provided is more than the cost of providing services
Give this one a try later!
Total owner's
The Accounting Equation equity is
increased
when
, What is supposed to A company reports net income
"balance" on the balance when
sheet?
Don't know?
4 of 95
Definition
directly related to buying and selling assets used long term
in the business (use more than 1 year)
Give this one a try later!
The purpose of Investing Activities
Financial Accounting (statement of cash flows)
is to: (3)
Revenue recognition (accounting
Elements of financial statements principle)
Don't know?
, 5 of 95
Term
What account is used to record cash collection in the
period after goods are provided?
Give this one a try later!
accounts receivable sales
cost of goods sold prepaid expenses
Don't know?
6 of 95
Term
Trademarks (A, L, O, R, or E)
Give this one a try later!
Liability Asset
Revenue Sales
Don't know?
