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ACC280 Accounting Principles and Procedures

An assignment that covers fundamental accounting principles and procedures used in financial accounting.

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ACC280Accounting Principles and ProceduresACC280 Final Answers Exam all 30Report this Question as InappropriateQuestion1) The accounting process is correctly sequenced asA. identification, communication, recordingB. recording, communication, identificationC. identification, recording, communicationD. communication, recording, identification2) Bookkeeping differs from accounting in that bookkeeping primarily involves which part of theaccounting process?A. IdentificationB. CommunicationC. RecordingD. Analysis3) Generally accepted accounting principles areA.income tax regulations of the Internal Revenue ServiceB. standards that indicate how to report economic eventsC. theories that are based on physical laws of the universeD. principles that have been proven correct by academic researchers4) The private sector organization involved in developing accounting principles is theA. Feasible Accounting Standards BodyB. Financial Accounting Studies BoardC. Financial Accounting Standards BoardD. Financial Auditors' Standards Body5) GAAP stands forA. Generally Accepted Auditing ProceduresB. Generally Accepted Accounting PrinciplesC. Generally Accepted Auditing PrinciplesD. Generally Accepted Accounting Procedures6) The four primary financial statements areA. the general ledger, the working trial balance, the general journal and the balance sheetB. the balance sheet, the working trial balance, the income statement and the statement of cashflowsC. the cash account, the statement of stockholder’s equity, the year-end worksheet, and thebalance sheetD. the balance sheet, the income statement, the statement of stockholder’s equityand thestatement of cash flows7) Which of the following financial statements is a point in time report?A. Balance sheet

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Document Details

University
University of Phoenix
Course
ACC 280
Subject
Accounting

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