Financial Accounting Flashcards

Decks in this Class (15):

• Chapter 1 Accounting In Action

  Chapter 1: Accounting in Action

  Sample Cards:

  1 which of the following is not a step i,

  2 which of the following statements abou,

  3 the historical cost principle states t
  15 Cards
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• Chapter 2 The Recording Process

  Chapter 2: The Recording Process

  Sample Cards:

  1 which of the following statements abou,

  2 debits a increase both assets and liab,

  3 a revenue account a is increased by de
  15 Cards
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• Chapter 3 Adjusting The Accounts

  Chapter 3: Adjusting the Accounts

  Sample Cards:

  1 the revenue recognition principle stat,

  2 the time period assumption states that,

  3 which of the following statements abou
  17 Cards
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• Chapter 4 Completing The Accounting Cycl

  Chapter 4: Completing the Accounting Cycle

  Sample Cards:

  1 which of the following statements is i,

  2 in a worksheet net income is entered i,

  3 in the unadjusted trial balance of its
  16 Cards
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• Chapter 5 Merchandising Operations

  Chapter 5: Merchandising Operations

  Sample Cards:

  gross profit will result if a operating,

  under a perpetual inventory system when,

  the sales accounts that normally have a
  11 Cards
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• Chapter 6 Inventories

  Chapter 6: Inventories

  Sample Cards:

  which of the following should not be inc,

  as a result of a thorough physical inven,

  cost of goods available for sale consist
  12 Cards
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• Chapter 8 Fraud Internal Control And Cas

  Chapter 8: Fraud, Internal Control, and Cash

  Sample Cards:

  which of the following is not an element,

  an organization uses internal control to,

  which of the following was not a result
  14 Cards
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• Chapter 9 Receivables

  Chapter 9: Receivables

  Sample Cards:

  receivables are frequently classified as,

  buehler company on june 15 sells merchan,

  which of the following approaches for ba
  13 Cards
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• Chapter 10 Plant Assets Natural Resource

  Chapter 10: Plant Assets, Natural Resources & Intangible Assets

  Sample Cards:

  erin danielle company purchased equipmen,

  additions to plant assets are a revenue,

  depreciation is a process of a valuation
  16 Cards
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• Chapter 11 Current Liabilities Payroll

  Chapter 11: Current Liabilities & Payroll

  Sample Cards:

  the time period for classifying a liabil,

  to be classified as a current liability,

  maggie sharrer company borrows 88 500 on
  16 Cards
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• Chapter 13 Corporations

  Chapter 13: Corporations

  Sample Cards:

  which of the following is not a major ad,

  a major disadvantage of a corporation is,

  costs incurred in the formation of a cor
  14 Cards
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• Chapter 15 Long Term Liabilities

  Chapter 15: Long-Term Liabilities

  Sample Cards:

  1 the term used for bonds that are unsec,

  2 the market interest rate a is the cont,

  3 karson inc issues 10 year bonds with a
  10 Cards
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• Chapter 16 Investments

  Chapter 16: Investments

  Sample Cards:

  1 which of the following is not a primar,

  2 debt investments are initially recorde,

  3 hanes company sells debt investments c
  14 Cards
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• Exam 1

  Exam 1

  Sample Cards:

  1 financial accounting provides economic,

  2 an asset account is a usually credited,

  3 owners equity is best depicted by the
  11 Cards
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• Exam 2

  Exam 2

  Sample Cards:

  1 accountants refer to an economic event,

  2 the starting point of the accounting p,

  3 communication of economic events is th
  11 Cards
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