acc_280_final_exam__9th_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. The ACE Company has five plants nationwide that cost $100 million. The current market value of the plants is $500 million. The plants will be recorded and reported as assets ata. $100 million.b. $600 million.c. $400 million.d. $500 million. _____ 2. A basic assumption of accounting that requires activities of an entity be kept separate from the activities of its owner is referred to as thea. stand alone concept.b. monetary unit assumption.c. corporate form of ownership.d. economic entity assumption. _____3. A net loss will result during a time period whena. liabilities exceed assets.b. dividends exceed revenues.c. expenses exceed revenues.d. revenues exceed expenses. _____4. As of December 31, 2008, Anders Company has assets of $35,000 and stockholders' equity of $20,000. What are the liabilities for Anders Company as of December 31, 2008?a. $15,000b. $10,000c. $25,000d. $20,000 _____5. A credit is not the normal balance for which account listed below?a. Common stock accountb. Revenue accountc. Liability accountd. Dividend account _____6. An accountant has debited an asset account for $1,000 and credited a liability account for $500. What can be done to complete the rec

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