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ACCT 301 final exam

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Question;Week 8: Final Exam - Final Exam;Page;1;1.(TCO 1) What is the accounting equation? Suppose your;company sold $12,000 in merchandise to a customer for cash. How does this;transaction impact the accounting equation?(Points: 17);2.(TCO 2) What are the four basic financial statements?;Describe the balance sheet, and explain why it is important.(Points: 17);3.(TCO 3) What is the Sarbanes-Oxley Act? Do you think;this act has more importance for the accounting profession or for;investors? Why?(Points: 17);4.(TCO 4) What is horizontal analysis of financial;statements? How does horizontal analysis differ from vertical analysis?(Points: 17);1.(TCO 8) Why is capital budgeting important? What is the;IRR method? How is it calculated?(Points: 26);2.(TCO 9) What are five different types of decisions that;could use incremental analysis? What are the relevant costs in a make-or-buy;decision?(Points: 26);3.(TCO 10) How is a transfer price determined? Describe the;cost-based method. Do you think it is better than the market-based method?(Points: 26);4.(TCO 11) What are direct materials? Give an example of a;direct material. How do direct materials differ from indirect materials? Give;an example of an indirect material.(Points: 26);1.(TCO 5) What is CVP analysis? Why is this an important;analysis for a company to perform?(Points;26);2.(TCO 6) What is an operating budget? What does it result;in? What is the first step in completing an operating budget?(Points: 26);3.(TCO 7) What is responsibility accounting? What is a;cost center? How does a cost center differ from a profit center?(Points: 26);Page2;1.(TCO 8) Why is capital budgeting important?;What is the IRR method? How is it calculated? (Points: 26);2.(TCO 9) What are five different types of;decisions that could use incremental analysis? What are the relevant costs in;a make-or-buy decision? (Points: 26);3.(TCO 10) How is a transfer price determined?;Describe the cost-based method. Do you think it is better than the;market-based method? (Points: 26);4.(TCO 11) What are direct materials? Give an;example of a direct material. How do direct materials differ from indirect;materials? Give an example of an indirect material. (Points: 26);1.(TCO 5) What is CVP analysis? Why is this an important;analysis for a company to perform? (Points;26);2.(TCO 6) What is an operating budget? What does it result;in? What is the first step in completing an operating budget? (Points: 26);3.(TCO 7) What is responsibility accounting? What is a;cost center? How does a cost center differ from a profit center? (Points: 26)

 

Paper#45542 | Written in 18-Jul-2015

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