Introduction To Accounting Final Financial Multiple Choice

merchandise inventory – goods that a company owns and expects to sell to customers
investments – إستثمارات
held-to-maturity – debt securities that a company has the positive intent and ability to hold to maturity
The basic accounting equation (Assets = Liabilities + Stockholder's Equity) CANNOT be restated as: – D. Assets + Liabilities = Stockholder's Equity
Accounts payable – An unwritten promise to pay creditors for property,such as merchandise, supplies, or equipment, purchased on credit or for services received on credit.
Net Profit Ratio – Net Income divided by Net Sales
Long-term investments – meaning those we expect to hold for more than one year. Some common long-term investments include notes receivable, investments in the stock or bonds of another company, and land that a company is holding for a future plant site. Companies often purchase stock of another company in order to control or own the other company.
TRUE / FALSE There are 7 File types in UNIX: ( 4pts ) – Regular files – Directories – Character device files – Block device files – Local domain sockets – Named piped ( FIFOS ) – Symbolic links
Assets – Resources owned by a business.
What does accrual accounting state regarding revenue and expenses? – Accrual accounting states that revenue and expenses should be recognized in the accounting period when they occur, regardless of when the cash payment is received or made.
TRUE / FALSE There аre 7 File types in UNIX: ( 4pts ) – Regulаr files – Directоries – Chаracter device files – Blоck device files – Lоcal domain sockets – Named piped ( FIFOS ) – Symbolic links
A liability – A probable future sacrifice of economic benefits of the entity arising from present obligations
adjusting entry – adjusts the account balances prior to preparing financial statements
Going Concern Assumption – The belief that the business will continue operating for the foreseeable future, or an indefinite time. This concept justifies, for example, recording revenue before it is collected and expenses before they are paid.
depósitos a la vista – demand deposits
Effective-Interest Amortization – Is a method of amortizing a bond discount or premium on the basis of effective-interest rate; is the theoretically preferred method.

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