Acct 212 week 1 quiz Study guides, Class notes & Summaries

ACCT 212 Week 6 Quiz Question 1.1. (TCO 7) Stockholders of a corporation directly elect the (Points : 3) board of directors. president of the corporation. chief financial officer of the corporation chairperson of the board. Question 2.2. (TCO 7) If a corporation has only one class of stock, it is understood to be (Points : 3) preferred stock. common stock. contributory stock. equity stock. Question 3.3. (TCO 7) The price that the stockholder pays to acquire stock from the corporation is the (Poi...

ACCT 212 Week 6 Quiz Question 1.1. (TCO 7) Stockholders of a corporation directly elect the (Points : 3) board of directors. president of the corporation. chief financial officer of the corporation chairperson of the board. Question 2.2. (TCO 7) If a corporation has only one class of stock, it is understood to be (Points : 3) preferred stock. common stock. contributory stock. equity stock. Question 3.3. (TCO 7) The price that the stockholder pays to acquire stock from the corporation is the (Poi...

Exam Help for DeVry Students Answer Explanation: The accounting equation states that Assets = Liabilities + Equity (Another way to write this statement is Liabilities = Assets – Equity). Assets are things owned by the business with future value. Cash, receivables (amounts owed to the business), office equipment, delivery trucks, and a building are all examples of assets that a typical business might own. In this example the Assets are Cash and Accounts Receivable. Equity is the por...

ACCT-212 Week 1 Quiz – With Answers ( 100% Correct) – Download To Score An A+ Financial Accounting 212 Week 1 Quiz 1. The term GAAP stands for? Answer: Generally Accepted Accounting Principles 2. Financial accounting serves which primary functions? Answer: Measures business activities Communicated business decisions on behalf of interested parties 3. Which of the following represents an obligation to the company? Answer: Liabilities 4. Which body has the primary responsibilities for the esta...

ACCT-212 Week 6 Quiz - 100% Correct Answers – Download To Get An A+ (TCO 7) Stockholders of a corporation directly elect the board of directors. president of the corporati on. chief financial officer of the corporation chairperson of the board. Flag this Question (TCO 7) The basic unit of ownership for a corporation is dividends. stock. retained earnings. capital. Flag this Question (TCO 7) The difference between the issue price of the stock and the par value of the stock is market value. par ...

ACCT 212 Week 5 Quiz – 100% Correct Answers- Download To Score An A+ Flag this Question (TCO 6) Which of the following is a natural resource? Patents Timber Gas reserves both B and C Flag this Question (TCO 6) Depreciation expense allocates a portion of the cost of an asset against the revenue the asset helps earn each period. is not required for plant assets according to GAAP. is reported on the balance sheet. is required for land according to GAAP. Flag this Question (TCO 6) Natural resource...

ACCT-212 Week 2 Quiz – 100% Correct Answers – Graded An A+ (TCO 2) When a business purchases land on account both assets and stockholders' equity are increased. assets are decreased and stockholder's equity is increased. both assets and liabilities are increased. assets are increased and liabilities are decreased. Flag this Question (TCO 2) Which of the following transactions will increase one asset and decrease another asset? The purchase of office supplies on account. The performance of ...

ACCT 212 Week 6 Quiz Question 1.1. (TCO 7) Stockholders of a corporation directly elect the (Points : 3) board of directors. president of the corporation. chief financial officer of the corporation chairperson of the board. Question 2.2. (TCO 7) If a corporation has only one class of stock, it is understood to be (Points : 3) preferred stock. common stock. contributory stock. equity stock. Question 3.3. (TCO 7) The price that the stockholder pays to acquire stock from the corporation is the (Poi...

ACCT 212 Week 7 Quiz (Summer 2021)v1 Question: The advantages of a corporation … to a sole proprietorship or partnership include: Question: Preferred stock is called … because it usual ly has two preferences over common stock. These preferences relate to: Question: When a company issues 35,000 shares of $3 par value common stock for $30 per share, the journal entry for this issuance would include: Question: Environmental Designs issues 5,000 shares of its $1 par value common stock at $18 per...

1. Question: Zebra Company reports the following figures for the year ending December 31, 2019 and 2018……… What are the percentage changes from 2018 to 2019 for Net Sales, Cost of Goods Sold and Gross Profit, respectively. 2. Question: Szidon Company reports the following data…. Using benchmarking, what can be said about Szidon Company? 3. Question: Mussa Corporation reports the following data……… In vertical anaylsis, the cost of goods sold percentage is closest to: (Round your fin...