ACCT 221
Devry University-Chicago
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ACCT 221 Week 4 - Quiz,100% CORRECT
- Exam (elaborations) • 4 pages • 2020
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1. Question : (TCO 1) The Accounting Equation is used to develop the organization's financial reports. (1) Describe what liabilities value would be if Assets are $50,000 and Owners' Equity is $25,000 by showing the Accounting Equation (10 points) and (2) provide an example of two liability accounts. (10 points)
Question 2. Question : (TCO 1) The financial statements present a company to the public in financial terms. (1) Which financial statement requires input from the Income Statement and ...
Exam (elaborations)
ACCT 221 Week 4 - Quiz,100% CORRECT
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ago
1. Question : (TCO 1) The Accounting Equation is used to develop the organization's financial reports. (1) Describe what liabilities value would be if Assets are $50,000 and Owners' Equity is $25,000 by showing the Accounting Equation (10 points) and (2) provide an example of two liability accounts. (10 points) Question 2. Question : (TCO 1) The financial statements present a company to the public in financial terms. (1) Which financial statement requires input from the Income Statement and ...
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