DOWNLOADS

Week 2: Intangible Assets We introduced intangible assets last week, and this week, we will study them in more detail. Please define and describe the term intangible asset. What major … Read more

1. Assume the following sales data for a company: 2022 $1000000 2021 $822250 2020$ 650000 If 2020 is the base year, what is the percentage increase in sales from 2020 … Read more

1. Liabilities are classified on the balance sheet as current or A. long-term. B. accrued. C. deferred. D. unearned. 2. A current liability is a debt that can reasonably be … Read more

1. Which of the following is not properly classified as property, plant, and equipment? A. A truck held for resale by an automobile dealership. B. Land improvement, such as parking … Read more

1. Gross profit equals the difference between A. sales revenue and cost of goods sold. B. sales revenue and operating expenses. C. sales revenue and cost of goods sold plus … Read more

1. All of the following are examples of internal control procedures except A. customer satisfaction surveys. B. reconciling the bank statement. C. using prenumbered documents. D. insistence that employees take … Read more

1. An accounting time period that is one year in length is called: A. a fiscal year. B. an interim period. C. the time period assumption. D. a reporting period. … Read more

1.Collection of a $740 Accounts Receivable A. decreases a liability $740; increases stockholders’ equity $740. B. increases an asset $740; decreases an asset $7.40. C. increases an asset $740; decreases … Read more

Which of the following is the most appropriate and modern definition of accounting?   The interconnected network of subsystems necessary to operate a business. The information system that identifies, records, … Read more