Popular courses 'ACCOUNTING 101' at ACCOUNTING 101
ACCOUNTING 101 Study guides, Class notes & Summaries
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Accounting 101 Exam CH 1-4 Questions & Answers 2023/2024
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Accounting 101 Exam CH 1-4 Questions & Answers 2023/2024 
 
 
Accounting Equation - ANSWER-Assets= Liabilities + stockholder's equity 
 
Assets - ANSWER-Resources owned by company 
 
Liabilities - ANSWER-Rights of the creditors or amounts owed to creditors 
 
Equity - ANSWER-Rights of the owner 
 
AED - ANSWER-Assets, Expenses, Dividends = Normal debit balance and increase on the debit side 
 
LER - ANSWER-Liabilities, Equity, Revenue = Normal credit balances and increase on the credit side 
 
A...
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Ivy Tech Accounting 101 Final Exam Study Guide Questions With Verified Solutions
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Ivy Tech Accounting 101 Final Exam Study 
Guide Questions With Verified Solutions 
What is the primary responsibility of FASB? - answerDeveloping GAAP 
What is the accounting equation? - answerAssets=Liability+Equity 
What is the definition of revenue? - answerMoney earned from providing a product or 
service 
Is CoGS an expense? - answerYes 
What is the primary objective of financial reporting? - answerTo provide info for decision 
making 
What accounts are on the balance sheet? - answerAssets,...
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Accounting 101 Final 2019 IVY TECH Questions with Complete Solutions
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What is the definition of revenues? Correct Answer-Assets received from selling goods and services 
 
What is the definition of expenses? Correct Answer-The cost associated with doing business 
 
What does the accounting equation? Correct Answer-Assets = liabilities + stockholders equity 
 
What is FASB? Correct Answer-Financial accounting standards Board, the organization primarily responsible for setting accounting principles (GAAP) 
 
What is the primary objective of financial reporting? Corr...
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Accounting 101 Final Exam Ivy Tech Questions with Complete Solutions
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Revenues Correct Answer-assets received from selling good and services 
 
Expenses Correct Answer-the cost associated with doing business 
 
Financial Accounting Standards Board (FASB) Correct Answer-The organization primarily responsible for evaluating, setting, or modifying GAAP. 
 
Accounting Equation Correct Answer-Assets = Liabilities + Equity 
 
Primary objective of financial reporting Correct Answer-Provide information for decision making 
 
Income Statement Correct Answer-A financial sta...
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A package deal for Accounting 101 Study Guide Exam With Latest Updated Solutions 2024
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Accounting 101 Exam 1 With Real Solutions 2024Accounting 101 Exam With Latest Solutions 2024Accounting 101 Study Guide Exam With Correctly Solved Solutions 2024Accounting Exam With Detailed Solutions 2024

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Accounting Exam 1 With Correct Solutions 2024
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Accounting Exam 1 With Correct Solutions 2024
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Accounting Exam With Detailed Solutions 2024
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Accounting Exam With Detailed Solutions 2024
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Accounting 101 Exam With Latest Solutions 2024
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Accounting 101 Exam With Latest Solutions 2024
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Accounting 101 Study Guide Exam With Correctly Solved Solutions 2024
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Accounting 101 Study Guide Exam With Correctly Solved Solutions 2024
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