acc_280_final_exam__1st_set

Apr 17th, 2015
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Hi there.This document contains A+ work for the course ACC 280.I am sure that this work will not disappoint you.This document will give you the correct answers to the respective questions about the particular course.

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ACC 280 Final Exam.P.S. Your questions will be chosen randomly from a large set of questions. Nobody can guarantee that these questions will cover completely your exam. If I helped you please leave "A" feedback (I need it very much). Thank you and good luck.1. Which of the following would not be considered an internal user of accounting data for the XYZ Company? a.President of the company b.Production manager c.Merchandise inventory clerk d.President of the employees' labor union 2. Which of the following would not be considered an external user of accounting data for the XYZ Company? a.Internal Revenue Service Agent b.Management c.Creditors d.Customers 3. Generally accepted accounting principles are a.income tax regulations of the Internal Revenue Service. b.standards that indicate how to report economic events. c.theories that are based on physical laws of the universe. d.principles that have been proven correct by academic researchers. 4. The basic accounting equation may be expressed as a.Assets = Equities. b.Assets - Liabilities = Stockholders' Equity. c.Assets = Liabilities + Stockholders' Equity. d.all of these. 5. Liabilities a.are future economic benefits. b.are existing debts and obligations. c.possess service potential. d.are things of value used by the business in its operation. 6. The basic accounting equation cannot be restated

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