Praxis 5101

Which is an advantage of using Wiki is an electronic collaboration tool?

• Updated and edited by a single person

• Single source of truth

• Little to no midifications after being published

• Contains mostly editorialized content

Which of the following is the primary purpose of an accounting system?

• To develop financial statements, inconformity with generally excepted accounting principles

• To provide as much useful information to decision-makers as possible

• To record changes in the financial position of a company to buy applying the concepts of double entry, accounting

• To meet an organizations need for accounting information as efficiently as possible

A company wishes to increase the word of mouth promotion for his new hair Caroline the company has launched party for the line and invite social media, influencers and celebrities to the event. The event is covered on the company’s website and social media channels all Hooten receive product samples as well as product demonstration which of the following types of advertising is the company using.

• Buzz marketing

• Product seeding

• Conversation creation

• Incentives

To accurately calculate the funds, a company has available to pay expenses in the short run. An employee should review the.

• Statement of retained earnings

• Income statement

• Balance sheet

• Statement of cash flows

A firm pays $1000 for furniture on account which of the following journal entries should be made

• Cash should be credited; office furniture should be debited

• Office expense should be debited; accounts payable should be

• Office furniture should be debited; accounts payable should be credited

• Accounts payable an office furniture should be debited; cash should be credited

Which three of the following actions should a marketing manager used to mine target customer data for a local bank to expand its financial management business

• Studying customers responses to the marking down of account fees

• Identifying products that competing Banks provide

• Evaluating the profiles of the most profitable customers

• Querying for the ethnicity of customers

• Analyzing the combination of bank products that customers use

A debit is on the left side of the T-Accounts and does what?

• increases assets

• increases liability

A credit is on the right side of the T-Accounts and does what?

• increases assets

• increases liability

accepts deposits, has savings, checking and money market

• commercial bank

• savings and loans

• credit union

• investment bank

deposits like commercial banks; however it is owned by the people that deposit money in it

• credit union

• money market

• savings and loan

• investment bank