ACCOUNTING FOUNDATIONS CERTIFICAITON

Front

The financial decisions of the company are the responsibility of the

Back

CFO

Front

A violation of a company's confidentiality agreement could occur when an employee shares company information with others.

Back

shares company information with others

Front

What are expenses incurred in one fiscal period but not paid until a later fiscal period called?

Back

accrued expenses

Front

Which of these is central to physical inventory?
Options:
actual count of merchandise,
immediate sale of products,
Periodic record if goods sold,
estimation of quantity purchased

Back

actual count of merchandise

Front

When a customer pays on their account using a debit card, what increases for the business?

Back

accounts receivable

Front

How does the purchase of a computer with cash affect assets?

Back

it offsets assets

Front

What would the cost of goods sold be if the beginning inventory is $30,000, purchases are $10,000, ending inventory is $20,000, sales are $100,000, and selling expenses are $30,000?

Back

$20,000

Front

What are the proceeds on a 4 percent, 3-month, non-interest-bearing note for $4,000?

Back

$ 4,040

Front

The cost of goods sold is the value of all    during the fiscal year

Back

merchandise sold

Front

Interest expense is included in Other Income and Expense in a/an income statement.

Back

single step