ACC 310 Study guides, Class notes & Summaries

which of the following does not describe intangible assets? - they are financial instruments which of the following characteristics do intangible assets possess - long-lived which characteristic is not possessed by intangible assets - physical existence costs incurred internally to create intangibles are - expensed as incurred which of the following costs incurred internally to create an intangible asset is generally expensed? - research and development which of the following methods of...

When matching transactions in QBO, which indicates that a definite match has been located? - A green 1 Record Found icon When reconciling bank and credit card accounts, the difference must always be zero. T/F - True You can reconcile only your bank accounts. T/F - False To transfer funds from a checking account to a savings account, you would make a journal entry. T/F - False You can set up bank rules for only money out transactions. T/F - False Hector is a supplier who sells you produ...

Multi step income statement - Gross Profit -operating expenses =income from operations +other revenues and gains -other expenses and losses =income before tax -income tax =net income Gross profit - Sales Revenue -COGS Income from operations - gross profit -operating expenses Financial Accounting - measures, classifies, and summarizes in report from those activities and that information which relate to the enterprise as a whole for use by parties both internal and external to a ...

E.L. Factory can produce 500 headphones per day with one shift of 20 employees. The production line is currently at full capacity. If demand for a certain day increases by one headphone, E.L. Factory must add another shift of 20 employees. What type of cost is E.L. Factory's labor cost? A. Variable Cost B. Step Cost C. Mixed Cost D. Sunk Cost - B. Step Cost Ex: Step costs stay at the same level for a certain activity range, but jump to a higher amount if the volume of activity incr...

E.L. Factory can produce 500 headphones per day with one shift of 20 employees. The production line is currently at full capacity. If demand for a certain day increases by one headphone, E.L. Factory must add another shift of 20 employees. What type of cost is E.L. Factory's labor cost? A. Variable Cost B. Step Cost C. Mixed Cost D. Sunk Cost - B. Step Cost Ex: Step costs stay at the same level for a certain activity range, but jump to a higher amount if the volume of activity incr...

which of the following does not describe intangible assets? - they are financial instruments which of the following characteristics do intangible assets possess - long-lived which characteristic is not possessed by intangible assets - physical existence costs incurred internally to create intangibles are - expensed as incurred which of the following costs incurred internally to create an intangible asset is generally expensed? - research and development which of the following methods of...

When matching transactions in QBO, which indicates that a definite match has been located? - A green 1 Record Found icon When reconciling bank and credit card accounts, the difference must always be zero. T/F - True You can reconcile only your bank accounts. T/F - False To transfer funds from a checking account to a savings account, you would make a journal entry. T/F - False You can set up bank rules for only money out transactions. T/F - False Hector is a supplier who sells you produ...

Multi step income statement - Gross Profit -operating expenses =income from operations +other revenues and gains -other expenses and losses =income before tax -income tax =net income Gross profit - Sales Revenue -COGS Income from operations - gross profit -operating expenses Financial Accounting - measures, classifies, and summarizes in report from those activities and that information which relate to the enterprise as a whole for use by parties both internal and external to a ...