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Examen

Accounting Principles and Formulas Questions With Verified Answers | UPDATED

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Accounting Principles and Formulas Questions With Verified Answers | UPDATED Basic Accounting Equation - ANSWER Assets = Liabilities + Owner's Equity Business Entity - ANSWER The financial statements report about a single business. Every business gets its own set of books. Accountants do not mix in the owner's personal financial information. Current - ANSWER "Current" liabilities are those debts that must be paid within one year or one operating cycle, whichever is longer. Current Ratio - ANSWER Current Assets/Current Liabilities = Current Ratio Debt Ratio - ANSWER Total Liabilities/Total Assets = Debt Ratio Alternate Debt Ratio - ANSWER 100% - Equity Ratio = Debt Ratio Double Entry Accounting - ANSWER Recording business transactions twice: once to show where the money came from, and another time to show where the money went. Equity Ratio - ANSWER Total Equity/Total Assets = Equity Ratio Alternate Equity Ratio - ANSWER 100% - Debt Ratio = Equity Ratio Liability Account - ANSWER Payable or Deferred Equity Account - ANSWER Owner's name, Withdrawal, Dividend, Stock. Income Account - ANSWER Sales, Income, or Revenue Expense Account - ANSWER Expense (every expense account should be marked with "exp." at the end) Asset Account - ANSWER Receivable, Prepaid, Investment, Inventory (many asset accounts merely have the name of the asset without any special identifying word) Book value of a long-lived asset - ANSWER Purchase Price - Accumulated Depreciation = Book Value Ending owner's equity formula - ANSWER Equity (beginning) + Net Income - Withdrawal = Equity (ending) Gross Profit (GP) - ANSWER Sales - CGS = GP

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As a Career Tutor, I understand the pressure of managing demanding coursework, exams, and practical requirements across multiple disciplines. These professionally organized revision materials are designed to support students in nursing, healthcare administration, business, information systems, Engineering, health, IT, or trade courses management programs by simplifying complex concepts and reinforcing high-yield academic content. The materials are developed to help students: Understand core theories and practical applications across Multiple Disciplines Review exam relevant content aligned with undergraduate and graduate curriculam To Strengthen critical thinking, analytical reasoning, and decision-making skills Save time with clear, structured summaries instead of overwhelming textbooks Prepare efficiently for tests, assignments, case studies, and professional exams Each resource is created with academic standards in mind, integrating real world examples, industry terminology, and evidence based concepts commonly required in professional programs. Whether you are studying nursing fundamentals, healthcare management, information systems, project management, business strategy, Engineering these materials provide focused, reliable support for academic success. These revision guides are ideal for: Nursing and allied health students Healthcare administration and public health students Business, MBA, and management students Information technology and information systems students, engineering, business, IT, or trade courses If you are looking for clear, student-friendly, exam-focused revision materials that support multiple career pathways, these resources are designed to help you study smarter, perform better, and stay confident throughout your academic journey. WISH YOU SUCCESS!!

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