FIN 101

ACC 101 Chapter 4 Exam questions with correct answers 2026/2027 Edition Graded A+ Reasons of incorrect financial statements -errors and fraud accidental mistakes in recording transactions or applying GAAP - errors a person intentionally deceives another for personal gain or to damage that person -fraud use of one's occupation for personal enri

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8 pages

Written in 2026/2027

Grade A+

Wisegrades

ACC 101 Chapter 1- A Framework of Financial Accounting Exam questions with correct answers 2026/2027 Edition Graded A+ Account A record of the business activities related to a particular item Accounting A system of maintaining records of a company's operations and communicating that information to decision makers

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9 pages

Written in 2026/2027

Grade A+

Wisegrades

Bus 101 Chapter 2 Managing Information and Technology in Business and Life Exam questions with correct answers 2026/2027 Edition Graded A+ Data -facts and statistics collected together for reference or analysis Information -facts provided or learned about something or someone Information Technology -systems, processes, and tools that enable organizations to collect, store, retrieve, analyze, and share data and the information obtained from it Cookie -file that a website you visit

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6 pages

Written in 2026/2027

Grade A+

Wisegrades

BUS 101 Exam #1 - Chapters 1-5 Exam questions with correct answers 2026/2027 Edition Graded A+ tangible products -goods (ex. shoes, vegetables, phones) intangible products -services (ex. health care, education) mission statement -

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16 pages

Written in 2026/2027

Grade A

Wisegrades

BUS 101 M5 - Managing and Leading People in Teams Exam questions with correct answers 2026/2027 Edition Graded A+ You work at a wealth management company as a client executive. There has been a concerning drop in new clients coming aboard, so your boss has decided to send everyone to an off-site retreat to strategize about what is happening and why. -Planning. This is an essential step for managers. Planning occurs in many forms including companywide strategic planning process.

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4 pages

Written in 2026/2027

Grade A+

Wisegrades

ACC 101 4-5 Exam questions with correct answers 2026/2027 Edition Graded A+ Fraud Triangle - Opportunity, Motivation, and Rationalization — the three elements that lead to occupational fraud. Purpose of Internal Controls -To safeguard company assets and ensure reliable accounting. Five Components of Internal Control -Control environment, Risk assessment, Control

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9 pages

Written in 2026/2027

Grade A+

Wisegrades

ACC 101 Chapter 8 and 9 Exam questions with correct answers 2026/2027 Edition Graded A+ True or False: A receivable occurs when a business sells goods or services to another party on account. -True Which of the following is not one of the major receivables?: Accounts, Notes, Cash, and Interest -Cash What is the maturity date? -The date when a note is due Trade receivables can also be ref

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7 pages

Written in 2026/2027

Grade A+

Wisegrades

ACC 101 Chapter 4 Study Notes Exam questions with correct answers 2026/2027 Edition Graded A+ Companies prepare __ annually -financial statements Closing entries - journal entries made at the end of an accounting period Purposes of Closing Entry -Setting the stage for the next accounting period Summarizing a period's revenue

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7 pages

Written in 2026/2027

Grade A+

Wisegrades

Accounting 101 Chapter 3 and 4 Exam questions with correct answers 2026/2027 Edition Graded A+ accrual based accounting -Record transactions that change a company's financial statements in the periods in which the events occur. cash based accounting --recording transaction when cash is received -fails to record revenue that is ea

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9 pages

Written in 2026/2027

Grade A+

Wisegrades

Financial Accounting 101 Exam questions with correct answers 2026/2027 Edition Graded A+ stockholders -sole owners of a company creditor -lending to a company; make money on loans by charging interest dividends -portion of what the company earned in the form of cash payments managers -internal decision

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10 pages

Written in 2026/2027

Grade A+

Wisegrades

ACC 101 Chapter 3 Exam questions with correct answers 2026/2027 Edition Graded A+ The following adjusting journal entry does not include an explanation. Select the best explanation for the entry. -Record Supplies Used Adjusting entries affect only expense and asset accounts. -

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10 pages

Written in 2026/2027

Grade A+

Wisegrades

Acc 101 Exam questions with correct answers 2026/2027 Edition Graded A+ Accounting Equation -Assets = Liabilities + Owner's Equity Assets -Resources owned by a business that have future economic value. Liabilities -Creditors' claims on the assets of a business. Owner's Equity - The own

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11 pages

Written in 2026/2027

Grade A+

Wisegrades

Accounting 211 PSU Exam questions with correct answers 2026/2027 Edition Graded A+ Operating Transactions -Everyday Routine Transactions: Cash from sales, receive cash interest, pay company for supplies, employee salaries, rent expenses, etc. Investing Transactions -sale and purchase from long term assets: from sale of property/equipm

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7 pages

Written in 2026/2027

Grade A+

Wisegrades

Acc 101 chapter 8 Exam questions with correct answers 2026/2027 Edition Graded A+ Accounts Receivable are normally -Expected to be collected within a relatively short period, such as 30 or 60 days Notes Receivable are -Amounts that customers owe for which a formal written instrument of credi

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10 pages

Written in 2026/2027

Grade A+

Wisegrades

BUS 101 Exam1 questions with correct answers 2026/2027 Edition Graded A+ P= R-C Profits = Revenue - Cost Profit total revenue - total cost money left after all costs are paid Revenue

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13 pages

Written in 2026/2027

Grade A+

Wisegrades

Accounting 101 Exam questions with correct answers 2026/2027 Edition Graded A+ types of business -sole proprietorship, partnership, corporation sole proprietorship -single owner of a business partnership -2 or more owners of a business corporation -ownership evide

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7 pages

Written in 2026/2027

Grade A+

Wisegrades

ACC 101 Midterm: Key Concepts in Financial Accounting and Statements Exam questions with correct answers 2026/2027 Edition Graded A+ What are stockholders? Shareholders, owners, or investors in a business. What does 'interest' refer to in accounting? The cost of borrowing someone else's money

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7 pages

Written in 2026/2027

Grade A+

Wisegrades

Bus 101 Quiz 5 Exam questions with correct answers 2026/2027 Edition Graded A+ Production and operations management involves three main types of decisions that are made at three different stages. The first type of decision to be made deals with: -Production Planning _____ is something that pro

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8 pages

Written in 2026/2027

Grade A+

Wisegrades

ACC 101 Financial Accounting Review 4 5 & 6 Exam questions with correct answers 2026/2027 Edition Graded A+ What is the primary purpose of internal controls? - Safeguard assets and ensure reliable accounting information How is fraud best descr

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8 pages

Written in 2026/2027

Grade A+

Wisegrades

acc 212 Exam questions with correct answers 2026/2027 Edition Graded A+ Assets equal -Liabilities + Stockholders' Equity Net Income equals -Revenue - Expenses Ending Retained Earnings equals -Beginning Retained Earnings + Net Income - Dividends Ending Cash equals -Be

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6 pages

Written in 2026/2027

Grade A+

Wisegrades