Acct 304 Study guides, Class notes & Summaries

Exam (elaborations) Liberty University ACCT 370 Exam 2 Complete solution Liberty University ACCT 370 Exam 2 Complete solution 100% satisfied: solutions 1. The Common Stock account is reported on the balance sheet at the: 2. The time that the performance obligation is satisfied for revenue recognition is usually: 3. When reporting a change in an accounting principle, the general rule requires that the current year’s income from continuing operations reflect: 4. Using the same account...

ACCT 304 final Exam acct304 final exam Question 1.1. (TCO 1) The SEC issues accounting standards in the form of (Points : 6) accounting research bulletins. financial reporting releases. financial accounting standards. financial technical bulletins. Question 2.2. (TCO 1) When a registrant company submits its annual filing to the SEC, it uses (Points : 6) Form 10-A. Form 10-K. Form 10-Q. Form S-1. Question 3.3. (TCO 2) The conceptual framework’s qualitative characteristic of relevance includes (...

ACCT 304 Final Exam Sunday, February 10:05 AM Page: 1 2 3 Question 1. Question : (TCO 1) The FASB's standard-setting process includes, in the correct order, Question 2. Question : (TCO 1) When a registrant company submits its annual filing to the SEC, it uses Question 3. Question : (TCO 2) SFAC No. 5 focuses on Question 4. Question : (TCO 2) Net income equals Question 5. Question : (TCO 3) A sale on account would be recorded by debiting revenue. crediting assets. crediting liabilities. debiting...

ACCT 304 Final Exam Sunday, February 10:05 AM Page: 1 2 3 Question 1. Question : (TCO 1) The FASB's standard-setting process includes, in the correct order, Question 2. Question : (TCO 1) When a registrant company submits its annual filing to the SEC, it uses Question 3. Question : (TCO 2) SFAC No. 5 focuses on Question 4. Question : (TCO 2) Net income equals Question 5. Question : (TCO 3) A sale on account would be recorded by debiting revenue. crediting assets. crediting liabilities. debiting...

Week 8 Exam 1. Question : (TCO 1) The acquisition costs of property, plant, and equipment do not include Question 2. Question : (TCO 3) Our company exchanged land and cash of $5,000 for similar land. The book value and the fair value of the land were $90,000 and $100,000, respectively. Question 3. Question : (TCO 2) The exclusive right to display a symbol of product identification is a Question 4. Question : (TCO 4) The overriding principle for all depreciation methods is...

Week 1 Quiz 1. Question : (TCO 1) The SEC issues accounting standards in the form of Question 2. Question : (TCO 2) Enhancing qualitative characteristics of accounting information includes each of the following, except Question 3. Question : (TCO 3) XYZ Corporation receives $100,000 from investors for issuing them shares of its stock. XYZ's journal entry to record this transaction would include a Question 4. Question : (TCO 3) Cal Farms reported a supplies expense ...

ACCT 304 WK 8 FINAL EXAM. 1. (TCO 1) The FASB's standard-setting process includes, in the correct order, (Points : 6) exposure draft, research, discussion paper, and accounting standards update. research, exposure draft, discussion paper, and accounting standards update. research, discussion paper, exposure draft, and accounting standards update. discussion paper, research, exposure draft, and accounting standards update. Question 2.2. (TCO 1) The International Accounting Standards Board (Point...

CCT 304 WK 8 FINAL EXAM. 1. (TCO 1) The FASB's standard-setting process includes, in the correct order, (Points : 6) exposure draft, research, discussion paper, and accounting standards update. research, exposure draft, discussion paper, and accounting standards update. research, discussion paper, exposure draft, and accounting standards update. discussion paper, research, exposure draft, and accounting standards update. Question 2.2. (TCO 1) The International Accounting Standards Board (Points...

ACCT 304 Final Exam Sunday, February 10:05 AM Page: 1 2 3 Question 1. Question : (TCO 1) The FASB's standard-setting process includes, in the correct order, Question 2. Question : (TCO 1) When a registrant company submits its annual filing to the SEC, it uses Question 3. Question : (TCO 2) SFAC No. 5 focuses on Question 4. Question : (TCO 2) Net income equals Question 5. Question : (TCO 3) A sale on account would be recorded by debiting...

ACCT 304 WK 8 FINAL EXAM. 1. (TCO 1) The FASB's standard-setting process includes, in the correct order, (Points : 6) exposure draft, research, discussion paper, and accounting standards update. research, exposure draft, discussion paper, and accounting standards update. research, discussion paper, exposure draft, and accounting standards update. discussion paper, research, exposure draft, and accounting standards update. Question 2.2. (TCO 1) The International Accounting Standards Board (Point...