e c/Users/chris/Downloads/Biology%20Spring/accounting%20test%201.pdf ID Page view Read aloud V Draw Highlight Erase L. MC.01.31 which of the following best describes accounting? records economic data but does not communicate the data to sera specific rules is used only for filing out the returns and for financial statements for governmental reporting requirements is an information system that provides reports to users regarding eco condition of a business d. of use by individuals outside of the business www.de Donner Company is selling a piece of land acent to its business premtes, An por reported the market value of the land to be 220,000. The Focus Company initiated to buy the land for $177,000. The companies settled on a purchase price of $212,000, On the day, another piece of land on the same block sold for $220,000. Under the cost principles who amount shoulder and be recorded in the accounting records of Focus Campom! OOOO 2. $212.000 b. 3232,000 $220,000 d. $177,000 2. MC.0164 Which of the following we guidelines for having ethically? 1. Identify the consequences of a decision and its effect on others. 11. Consider your owtimed responsibilities to those affected by the decision II. lily your dechion based on personal standards of honesty and funes. II and III land IL cal d. 1 and 6. TEOL 06 Financial accounting provides information to all users, while the main focus for managerial Accounting is to provide information to the management True Fale 00 7. MC.01 50 Two common areas of accounting the respectively provide information to internal and external es are 3. MCO1.84 The GAAP and for 0 0 0 0 OOOO General Accepted Accounting Principles B. General Accepted Accounting Practices Generally Accepted as General Accounting Procedures foresting and fancial counting managerial stounding and Financial accounting financial accounting and tax accounting we d. managerial accounting and environmental accounting RMCOL 86 Detswed by a business or referred to as a stockhorst 4. MCOLX7 The counting interessed Ons recev den OOOO Avenue des 1. Letohry Apenses abies d. Ante Sterly 9. MCOINS MCOMO always lower than be File c/Users/chris/Downloads/Biology%20Spring/accounting%20test%201.pdf a D Page view A Read aloud V Draw Highlight 0 0 0 financed by the stockholders and/or creditors Lequel to bites les stockholdereuty de are expenses because they are oured with cash 10. MCL The met andeties of a comowy are $120,000 und 14,000, respectively stockholder uity should 554,000 b. 14,000 1212,000 3. $120,000 These created by a business when an accounts formed interest b. con payat prepare de accounts receivable 15. MC0199 How does porngitty in sheet the accounting on 2.de Gere, der muti co delicet 11. MC0191 A 17,000 to a creditor in Doment of an amount own. The efect of the transaction on the accounting on was to O 3. Increase anticrease O increase an decrease there o concrete Mockery d. decrease at decat atat TAMCOL.103 which of the wing costs is alty 3. Wage b. Acte Service Paren d. Accounts Receivable 17. MCOL.105 which of the following access or whated 12. MC 01.94 God pronunt for future in the church spread O cr o 1. Cash A Poble 13. MC0193 The more cared for services to escale) II. MCOL.108 Ramper Company is paying chevident. How does Tarifet Rames Contingut decenin (C) con il O verene in Costand der er ty increases ( Aceste decrease in wind was in der GAN 14. MC0195 ere to search O . *
