Acct 331 Study guides, Class notes & Summaries

ACCT 331 Horngren Chapter 1-3 test questions & answers 2024 The four types of accounting - ANSWER-Tax Accounting Financial Accounting Management Accounting Cost Accounting Tax Accounting - ANSWER-Tax accounting helps us determine how much is owed to the government for taxes o Rules regarding taxes are set by IRS o Contrary to popular thinking, taxes are only a small part of accounting Financial Accounting - ANSWER-Designed to help people OUTSIDE the company make decisions o Cre...

When a periodic inventory system is used the balance in the inventory account should approximate inventory on hand. two entries are required to record a sale. purchases of inventory are charged to the Inventory account. a physical count of inventory is required at the end of the accounting period to determine cost of goods sold. a physical count of inventory is required at the end of the accounting period to determine cost of goods sold.

Balance Sheet a financial statement that reports the assets, liabilities, and equity of a company at a particular time Liquidity useful for determining company's ability to pay current obligations (to convert its assets to cash) Solvency whether a company is able to pay all its liabilities including long-term liabilities. riskiness regarding the amount of liabilities in the capital structure Financial flexibility how many recourses available for generating future cash flows - to alt...

searching for ways to increase overall efficiency by reducing waste, improving quality and reducing costs is a function within an organization that is known ascontinuous improvement the detailed formulation of future actions to achieve a particular end is a management activity calledplanning a treasurer of a company is responsible forraising capital which of the following manufacturing approaches strives to produce a product only when it is needed and only in the quantities demanded b...

(WGU D101)ACCT 3314 COST & MANAGERIAL ACCOUNTING FINAL EXAM REVIEW Q & A 2024.(WGU D101)ACCT 3314 COST & MANAGERIAL ACCOUNTING FINAL EXAM REVIEW Q & A 2024.(WGU D101)ACCT 3314 COST & MANAGERIAL ACCOUNTING FINAL EXAM REVIEW Q & A 2024.

(WGU D101)ACCT 3314 COST & MANAGERIAL ACCOUNTING FINAL EXAM REVIEW Q & A 2024.(WGU D101)ACCT 3314 COST & MANAGERIAL ACCOUNTING FINAL EXAM REVIEW Q & A 2024.

(WGU D101)ACCT 3314 COST & MANAGERIAL ACCOUNTING FINAL EXAM REVIEW Q & A 2024(WGU D101)ACCT 3314 COST & MANAGERIAL ACCOUNTING FINAL EXAM REVIEW Q & A 2024(WGU D101)ACCT 3314 COST & MANAGERIAL ACCOUNTING FINAL EXAM REVIEW Q & A 2024

(WGU D101)ACCT 3314 COST & MANAGERIAL ACCOUNTING FINAL EXAM REVIEW Q & A 2024.(WGU D101)ACCT 3314 COST & MANAGERIAL ACCOUNTING FINAL EXAM REVIEW Q & A 2024.(WGU D101)ACCT 3314 COST & MANAGERIAL ACCOUNTING FINAL EXAM REVIEW Q & A 2024.

(WGU D101)ACCT 3314 COST & MANAGERIAL ACCOUNTING FINAL EXAM REVIEW Q & A 2024(WGU D101)ACCT 3314 COST & MANAGERIAL ACCOUNTING FINAL EXAM REVIEW Q & A 2024(WGU D101)ACCT 3314 COST & MANAGERIAL ACCOUNTING FINAL EXAM REVIEW Q & A 2024

(WGU D101)ACCT 3314 COST & MANAGERIAL ACCOUNTING FINAL EXAM REVIEW Q & A 2024.(WGU D101)ACCT 3314 COST & MANAGERIAL ACCOUNTING FINAL EXAM REVIEW Q & A 2024.