Act105 week 3 Study guides, Class notes & Summaries
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Act105 week 3 Exam 2023 Questions and Answers (100% Correct)
- Exam (elaborations) • 4 pages • 2024
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Question 1 of 10 10.0/ 10.0 Points 
Recognizing revenue at the time of completion of production is called the installment basis 
of accounting. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
Many accounting measurements are estimates and involve approximation and judgment. 
A. True 
B. 
False 
Answer Key: 
True 
Question 3 of 10 10.0/ 10.0 Points 
Salaries Expense before adjustment at September 30, the end of the fiscal year, has a 
balance of $140,000. The amount o...
-
Act105 week 3 |100% COMPLETE QUESTIONS AND ANSWERS
- Exam (elaborations) • 4 pages • 2024
-
- $8.49
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Question 1 of 10 10.0/ 10.0 Points 
Recognizing revenue at the time of completion of production is called the installment basis 
of accounting. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
Many accounting measurements are estimates and involve approximation and judgment. 
A. True 
B. 
False 
Answer Key: 
True 
Question 3 of 10 10.0/ 10.0 Points 
Salaries Expense before adjustment at September 30, the end of the fiscal year, has a 
balance of $140,000. The amount o...
-
Act105 week 3|100% COMPLETE QUESTIONS AND ANSWERS, GRADED A+-2023
- Exam (elaborations) • 4 pages • 2024
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Question 1 of 10 10.0/ 10.0 Points 
The stable dollar assumption is that fluctuations in the value of the dollar are significant and 
may not be ignored. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
The percentage-of-completion method recognizes revenue at the point of sale. 
A. True 
B. 
False 
Answer Key: 
False 
Question 3 of 10 10.0/ 10.0 Points 
Which of the following statements is false? 
A.Inclusion of special journals and subsidiary ledgers increased the e...
-
ACCT 105 Act105 week 3 100% COMPLETE QUESTIONS AND ANSWERS.
- Exam (elaborations) • 4 pages • 2024
-
- $8.49
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Question 1 of 10 10.0/ 10.0 Points 
Recognizing revenue at the time of completion of production is called the installment basis 
of accounting. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
Many accounting measurements are estimates and involve approximation and judgment. 
A. True 
B. 
False 
Answer Key: 
True 
Question 3 of 10 10.0/ 10.0 Points 
Salaries Expense before adjustment at September 30, the end of the fiscal year, has a 
balance of $140,000. The amount o...
-
ACCT 105 Act105 week 3 100% COMPLETE QUESTIONS AND ANSWERS.
- Exam (elaborations) • 4 pages • 2024
-
- $8.49
- + learn more
Question 1 of 10 10.0/ 10.0 Points 
The consistency principle implies that a relationship exists between expenses and revenues. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 0.0/ 10.0 Points 
The Trial Balance columns of the work sheet show store fixtures of $4,000. Estimated 
depreciation for the period is $400. The Store Fixtures amount in the Balance Sheet columns 
of the work sheet will be a: 
A.$3,600 
debit. 
B.$3,600 
credit. 
C.$4,400 
debit. 
D.$4,000 
debit. 
E.$4,000 
cred...
Too much month left at the end of the money?
-
ACCT 105 Act105 week 3 100% COMPLETE QUESTIONS AND ANSWERS.
- Exam (elaborations) • 4 pages • 2024
-
- $8.49
- + learn more
Question 1 of 10 10.0/ 10.0 Points 
The stable dollar assumption is that fluctuations in the value of the dollar are significant and 
may not be ignored. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
The percentage-of-completion method recognizes revenue at the point of sale. 
A. True 
B. 
False 
Answer Key: 
False 
Question 3 of 10 10.0/ 10.0 Points 
Which of the following statements is false? 
A.Inclusion of special journals and subsidiary ledgers increased the e...
-
Act105 week 3 Question 1 of 10 10.0/ 10.0 Points The stable dollar assumption is that fluctuations in the value of the dollar are significant and may not be ignored. A. True B. False Answer Key: False Question 2 of 10 10.0/ 10.0 Points The percentage-of-c
- Exam (elaborations) • 4 pages • 2024
- Available in package deal
-
- $9.49
- + learn more
Question 1 of 10 10.0/ 10.0 Points 
The stable dollar assumption is that fluctuations in the value of the dollar are significant and 
may not be ignored. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
The percentage-of-completion method recognizes revenue at the point of sale. 
A. True 
B. 
False 
Answer Key: 
False 
Question 3 of 10 10.0/ 10.0 Points 
Which of the following statements is false? 
A.Inclusion of special journals and subsidiary ledgers increased the e...
-
Act105 week 3 |100% COMPLETE QUESTIONS AND ANSWERS
- Exam (elaborations) • 4 pages • 2024
-
- $8.49
- + learn more
Question 1 of 10 10.0/ 10.0 Points 
Recognizing revenue at the time of completion of production is called the installment basis 
of accounting. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
Many accounting measurements are estimates and involve approximation and judgment. 
A. True 
B. 
False 
Answer Key: 
True 
Question 3 of 10 10.0/ 10.0 Points 
Salaries Expense before adjustment at September 30, the end of the fiscal year, has a 
balance of $140,000. The amount o...
-
Act105 week 3 |100% COMPLETE QUESTIONS AND ANSWERS
- Exam (elaborations) • 4 pages • 2024
-
- $9.49
- + learn more
Question 1 of 10 10.0/ 10.0 Points 
The stable dollar assumption is that fluctuations in the value of the dollar are significant and 
may not be ignored. 
A. True 
B. 
False 
Answer Key: 
False 
Question 2 of 10 10.0/ 10.0 Points 
The percentage-of-completion method recognizes revenue at the point of sale. 
A. True 
B. 
False 
Answer Key: 
False 
Question 3 of 10 10.0/ 10.0 Points 
Which of the following statements is false? 
A.In
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