acc_280_final_exam__4th_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.Communication of economic events is the part of the accounting process that involves A)identifying economic events. B)quantifying transactions into dollars and cents. C)preparing accounting reports. D)recording and classifying information. 2.The SEC and FASB are two organizations that are primarily responsible for establishing generally accepted accounting principles. It is true that A)they are both governmental agencies. B)the SEC is a private organization of accountants. C)the SEC often mandates guidelines when no accounting principles exist. D)the SEC and FASB rarely cooperate in developing accounting standards. 3.Revenues would not result from A)sale of merchandise. B)issuance of common stock. C)performance of services. D)rental of property. 4.The accounting equation for Goodboys Enterprises is as follows: AssetsLiabilitiesStockholders' Equity $120,000 =$60,000+$60,000 If Goodboys purchases office equipment on account for $12,000, the accounting equation will change to AssetsLiabilitiesStockholders' Equity a.$120,000 =$60,000

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