Description of this paper

ACCT 301 Week 4 Midterm

Description

solution


Question

Question;First 4 are short essaysnext 3 are essay questionsPage;1;1.(TCO 1) Suppose your company sold $25,000 in merchandise;to a customer for cash. How does this transaction impact the accounting;equation?(Points: 12);2.(TCO 2) Suppose your company sold $50,000 in merchandise;to a customer for cash. How does this transaction impact the accounting;equation?(Points: 12);3.(TCO 3) Rationalization is one of the components of the;fraud triangle. What types of rationalization could a person use to justify;misconduct? How can a company protect itself from rationalization as a part;of fraud?(Points: 12);4.(TCO 4) What is horizontal analysis of financial;statements? How does horizontal analysis differ from vertical analysis?(Points: 12);Page;2;1.(TCO 3) Separation of duties is a key feature in an;internal control system. Why is separation of duties such an important;internal control? Give an example of separation of duties as an internal;control.(Points: 24);2.(TCO 1) Describe the balance sheet. Why is this;statement important to the company, creditors, and investors?(Points: 24);3.(TCO 4) Name and describe one liquidity ratio. What does;this ratio measure? What is the formula for this ratio?(Points: 24)

 

Paper#45572 | Written in 18-Jul-2015

Price : $32
SiteLock