ACG2071 - Study guides, Class notes & Summaries

ACG2071 Exam 1 Review Questions With Complete Answers ...

ACG2071 Exam 1 FSU

ACG 2071 Study Guide Exam Questions With Answers Graded A+ 2025/2026 Forms of Business Organization - Sole Proprietorship, Partnership and Corporation Sole Proprietorship - Simple to establish, Owner controlled and Tax advantages Partnership - Simple to establish, Shared control, Broader skills and resources and Tax advantages Corporation - Easier to transfer ownership, Easier to increase funds, No personal liability What is a corporation? - An incorporated business entity that has filed...

ACG Study Guide Exam Questions With Answers Graded A+ 2025/2026 What is commissioning? - A process of documentation, adjustment, testing, verification, and training performed specifically to ensure that the finished facility operates in accordance with the owner's documented project requirements and the construction documents. Commissioning serves the owner's best interests by delivering a facility with systems that perform as specified, intended, and paid for. What does DID mean an...

ACG CxT Practice Exam Questions With Answers Graded A+ 2025/2026 What does CFR stand for? - Current Facility Requirements Define ACG - AABC Commissioning Group. A non-profit association dedicated to the advancement of the building commissioning industry What does AABC stand for? - Associated air balance council What does AI stand for? - Analog Input What does AO stand for? - Analog Output What does ATC stand for? - Automatic Temperature Controls What does BAS stand for? - Building Autom...

ACG 2071 Study Guide Exam Questions With Answers Graded A+ 2025/2026 What is a corporation? - An incorporated business entity that has filed articles of incorporation in a state of domicile What are the advantages of a corporation? - They can attract large amounts of capital investment Allows for an easy transfer of ownership Can attract professional management Provides stockholders with limited liability Survives the death of its owner(s) What are the disadvantages of a corporation? -...

ACG 2071 FSU Final Exam Questions With Answers Graded A+ 2025/2026 Of the following skills, which are needed by today's management accountants? - Strategic thinking Cost management Decision analysis Which of the following organizations is the professional association specifically for management accountants? - IMA Which of the following professional standards requires management accountants to continually develop their knowledge and skills? - competence Which of the following profess...

ACG 2071 FSU Exam Questions With Answers Graded A+ 2025/2026 What are the three pillars of sustainability - 3Ps: people (social), planet (environment), and profit (economic) What is ethical behavior? - it means to do the right thing, regardless of the consequences. Not all unethical behavior is illegal but all illegal behavior is unethical. What are 2 ways to generate profit? - Increase revenues or sales, and/or decrease expenses/costs What are 3 types of companies? - service (intangible...

Includes all book notes until chapter 13 (Overview, Ch 1, 2, 3, 6, 5, 12, 13)