Accounting Final Exam Review

deposit slip – a bank form listing the cash and checks to be deposited
stcokbrokers – trade stock and give advice
an asset is used to pay…. – what is owed
adjustments – change recorded on a work sheet to update general ledger accounts at the end of a fiscal period
a press release – a written public news announcement normally distributed to major news services
Cross-sectional data analysis includes:
a. using a variety of time periods to measure the dependent variable
b. using the highest and lowest observation
c. observing different entities during the same time period
d. comparing information in different cost pools – c. observing different entities during the same time period
IAS 36 Impairments of Assets – * Assets need to be reviewed yearly to judge whether there is evidence of impairment
* Impairment occurs when the recoverable amount (higher of fair value (selling amount) or value in use) is less than the carrying amount (NBV)
* IL shown as expense on the IS & asset shown on BS at recoverable amount
* INDICATORS – EXTERNAL: fall in asset market value; adverse effects on business caused by technology, markets, economy, law; increase in interest rates. INTERNAL: obsolescence or physical damage; adverse effects on the asset of a reorganisation within the business.
last in first out inventory cost flow method – using the price of merchandise purchases last to caluclate the cost of merchandise sold first (lifo)
After the server reboots both SSH and Apache are unavailable. Please review the history snippet of code and  make suggestions as to what went wrong ( 8pts )root@ubuntu:~# ufw status  root@ubuntu:~# apt-get install apache2  root@ubuntu:~# systemctl start apache2 root@ubuntu:~# echo “hello” > /var/www/html/index.htmlroot@ubuntu:~# ufw allow 80/tcp root@ubuntu:~# ufw –force enable root@ubuntu:~# ufw status      Status: active To                         Action      From —                         ——      —- 80/tcp                     ALLOW       Anywhere 80/tcp (v6)                ALLOW       Anywhere (v6)root@ubuntu:~# reboot
Balance sheet – Shows the fincial position of a company at the end of an accounting period
Cash Basis accounting – recognizes revenues when cash is received and records expenses when cash is paid
Accounting period – results of operations for an entity, must be reported on a periodic basis, usually a year.
Income Statement – financial statement that reports revenue and expenses over a period of time
Relevance – The quality of information that indicates the information makes a difference in a decision
Structural functionalism – No change or conflict. Complex system interdependent parts
Balance sheet – Assets
Liabilities
Stockholders equity
After the server rebооts bоth SSH аnd Apаche аre unavailable. Please review the history snippet of code and  make suggestions as to what went wrong ( 8pts )root@ubuntu:~# ufw status  root@ubuntu:~# apt-get install apache2  root@ubuntu:~# systemctl start apache2 root@ubuntu:~# echo “hello” > /var/www/html/index.htmlroot@ubuntu:~# ufw allow 80/tcp root@ubuntu:~# ufw –force enable root@ubuntu:~# ufw status      Status: active To                         Action      From —                         ——      —- 80/tcp                     ALLOW       Anywhere 80/tcp (v6)                ALLOW       Anywhere (v6)root@ubuntu:~# reboot
Purchase Allowance – An amount granted to the purchase as an incentive to keep goods that are not "as ordered."
Management's Discussion and Analysis – a discussion and analysis of the financial activities of the company by the company's management
Drawee. – A person or concern, usually a bank, that has been ordered to make a payment of a check or draft.

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