Improved self-esteem - makes us feel good about our decision.
  • A whistleblower is a person who:
  • Ethical behavior will result in which of the following?
  • Investors, today are realizing financial benefit by:
  • Top leaders in government and business today are:
legal
  • The danger in writing new laws to correct behavior is that:
  • Laws represent the standards of ________ behavior.
  • People need to make a living. Under this circumstance, one of the best social programs a firm can offer is:
  • A very critical last step in the process of establishing an ethics code is _________.
fear of negative publicity.
  • One factor causing businesses to vigorously enforce ethical standards is the:
  • The danger in writing new laws to correct behavior is that:
  • Following an ethics-based approach to decision making will normally lead to higher:
  • A very critical last step in the process of establishing an ethics code is _________.
each of us
  • One factor causing businesses to vigorously enforce ethical standards is the:
  • When discussing moral and ethical issues, it is helpful to remember that ethical behavior begins with __________________.
  • A very critical last step in the process of establishing an ethics code is _________.
  • People need to make a living. Under this circumstance, one of the best social programs a firm can offer is:
investing in companies who are committed to a better environment.
  • A whistleblower is a person who:
  • Top leaders in government and business today are:
  • Investors, today are realizing financial benefit by:
  • Ethical behavior will result in which of the following?
Receive up to 30% of the penalty funds that exceed $1 million that the courts recover from companies proven to be in violation.
  • The danger in writing new laws to correct behavior is that:
  • Which of the following statements describes ethical behavior in the U.S.?
  • In the past, whistleblowers were known as persons with a universal moral calling. However, seldom did these individuals receive tangible rewards for their efforts. When it was all said and done, they often fell into hard times. Whistleblowers got a boost in 2010, with the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act. A provision of this act permits whistleblowers to _____________________.
  • An ethical dilemma refers to a situation where you must:
trust and cooperation.
  • One factor causing businesses to vigorously enforce ethical standards is the:
  • Following an ethics-based approach to decision making will normally lead to higher:
  • Creating competition between employees within the corporation:
  • Ethical problems and issues of social responsibility are:
rely on laws and regulations outside the firm for guidance.
  • Compliance-based ethics codes:
  • The danger in writing new laws to correct behavior is that:
  • Creating competition between employees within the corporation:
  • Compliance based ethics codes typically:
reports illegal or unethical behavior in the corporation.
  • A whistleblower is a person who:
  • Investors, today are realizing financial benefit by:
  • Top leaders in government and business today are:
  • Ethical behavior will result in which of the following?
increasing one's initiatives toward a concern for the environment.
  • Compliance based ethics codes typically:
  • The danger in writing new laws to correct behavior is that:
  • Compliance-based ethics codes:
  • Going green means:
can encourage employees to deceive customers.
  • The danger in writing new laws to correct behavior is that:
  • Creating competition between employees within the corporation:
  • An ethical dilemma refers to a situation where you must:
  • Ethical problems and issues of social responsibility are:
conform to laws and regulations.
  • Compliance based ethics codes typically:
  • Compliance-based ethics codes:
  • Ethical problems and issues of social responsibility are:
  • Creating competition between employees within the corporation:
We can find common moral values that many Americans uphold, including respect for human life, self-control, honesty, integrity, and courage.
  • Following an ethics-based approach to decision making will normally lead to higher:
  • Which of the following statements describes ethical behavior in the U.S.?
  • The danger in writing new laws to correct behavior is that:
  • One factor causing businesses to vigorously enforce ethical standards is the:
not unique to the United States.
  • The danger in writing new laws to correct behavior is that:
  • An ethical dilemma refers to a situation where you must:
  • Creating competition between employees within the corporation:
  • Ethical problems and issues of social responsibility are:
choose between equally unsatisfactory alternatives.
  • Ethical problems and issues of social responsibility are:
  • Creating competition between employees within the corporation:
  • The danger in writing new laws to correct behavior is that:
  • An ethical dilemma refers to a situation where you must:
A tracking signal
  • Detailed forecasts of demand are not needed
  • Outside factors that we cannot predict or control often impact the forecast
  • is a measurement of how well a forecast is predicting actual values
  • collaborative, planning, forecasting, replenishment
Todays forecast equals yesterdays actual demand is referred as
  • exponential smoothing
  • the naive approach
  • an economic forecast
  • linear regression
Which one of the following statements is NOT true about the forecasting in the service sector?
  • Forecasting is exclusively an objective prediction
  • Detailed forecasts of demand are not needed
  • When excess capacity exists, cost can decrease
  • Outside factors that we cannot predict or control often impact the forecast
Which of the following is a reality each company faces regarding its forecasting system?
  • When excess capacity exists, cost can decrease
  • Forecasting is exclusively an objective prediction
  • Detailed forecasts of demand are not needed
  • Outside factors that we cannot predict or control often impact the forecast
CPFR is
  • is a measurement of how well a forecast is predicting actual values
  • When excess capacity exists, cost can decrease
  • collaborative, planning, forecasting, replenishment
  • Forecasting is exclusively an objective prediction
Which forecast error measure is probably the easiest to interpret?
  • linear regression
  • exponential smoothing
  • MAPE
  • the naive approach
Which of the following is a quantitative forecasting method?
  • exponential smoothing
  • When excess capacity exists, cost can decrease
  • Forecasting is exclusively an objective prediction
  • linear regression
Which of the following statements is not true?
  • Forecasting is exclusively an objective prediction
  • linear regression
  • exponential smoothing
  • When excess capacity exists, cost can decrease
Grapes and grape soda both provide sugars, but the grapes are a healthier choice because:​
  • ​they provide fiber and phytochemicals.
  • it elevates blood glucose levels.
  • weight control, exercise, and a healthy lifestyle
  • Lowers blood glucose levels
Is it possible to have too much fiber in your diet?
  • increased consumption of fiber-rich, whole food grain of carbohydrate.
  • weight control, exercise, and a healthy lifestyle
  • Yes, because some fibers bind with minerals and carry them out of the body.
  • inadequate calcium intake from avoiding dairy products can affect bone development.
Complex carbohydrates:
  • sucrose, maltose, and lactose.
  • increased consumption of fiber-rich, whole food grain of carbohydrate.
  • are long chains of sugar units arranged to form starch or fiber.
  • inadequate calcium intake from avoiding dairy products can affect bone development.
What is the primary function of insulin?
  • sucrose, maltose, and lactose.
  • it elevates blood glucose levels.
  • weight control, exercise, and a healthy lifestyle
  • Lowers blood glucose levels
You are trying to decide which type of sugar to use, and want to choose the one that would have the greatest nutritional value. Your best choice would be:
  • Yes, because some fibers bind with minerals and carry them out of the body.
  • inadequate calcium intake from avoiding dairy products can affect bone development.
  • Viscous fiber binds with bile in the intestine and is excreted in feces.
  • to select any of the sugars because none of them is "more healthy" than another.
When blood glucose concentration falls, what pancreatic hormone is secreted to stimulate release of stored glucose?
  • Glucagon
  • fructose
  • 45-65
  • glucose
Which of the following animal-derived foods contains significant amounts of carbohydrates?
  • white rice
  • milk
  • Fish
  • glucose
What fraction of the body's total glycogen content is found in the liver?
  • 1/3
  • Fish
  • milk
  • glucose
All of the following are properties of fiber except
  • weight control, exercise, and a healthy lifestyle
  • Lowers blood glucose levels
  • Fish
  • it elevates blood glucose levels.
Lactose intolerance can cause nutritional complications because:
  • Yes, because some fibers bind with minerals and carry them out of the body.
  • it elevates blood glucose levels.
  • increased consumption of fiber-rich, whole food grain of carbohydrate.
  • inadequate calcium intake from avoiding dairy products can affect bone development.
According to the Dietary Reference Intakes, people should obtain about ____ percent of their daily energy from carbohydrates.
  • Fish
  • 45-65
  • mouth
  • milk
Current dietary guidelines for the United States recommend:
  • Yes, because some fibers bind with minerals and carry them out of the body.
  • weight control, exercise, and a healthy lifestyle
  • increased consumption of fiber-rich, whole food grain of carbohydrate.
  • inadequate calcium intake from avoiding dairy products can affect bone development.
The disaccharides include:
  • it elevates blood glucose levels.
  • are long chains of sugar units arranged to form starch or fiber.
  • Lowers blood glucose levels
  • sucrose, maltose, and lactose.
Dietary fiber has been recommended for its possible benefits in reducing heart disease by lowering blood cholesterol. How is fiber thought to play its role in lowering blood cholesterol?​
  • to select any of the sugars because none of them is "more healthy" than another.
  • increased consumption of fiber-rich, whole food grain of carbohydrate.
  • Yes, because some fibers bind with minerals and carry them out of the body.
  • Viscous fiber binds with bile in the intestine and is excreted in feces.
assets, liabilities, owner's equity, revenues, and expenses
  • the correct order to prepare the financial statements is
  • The order of the trial balance is
  • Debit Accounts Receivable; credit fees earned
  • to close all real accounts.
notes receivable
  • The excess of the current assets of a business over its current liabilities.working capital = current assets- current liabilities
  • A written promise that a customer will pay a fixed amount of principal plus interest by a certain date in the future.
  • What affect does the following transaction have on the accounting records?Debit Supplies Expense Credit Supplies
  • the accounting process that begins with analyzing and journalizing transactions and ends with the post-closing trial balance
step 3
  • an unadjusted trial balance is prepared
  • the ability of a business to pay its debts
  • Closing entries are journalized and posted to the ledger.
  • revenue credit
Accrued expenses are ordinarily reported on the balance sheet as
  • liabilities
  • deprecition
  • liability, credit
  • asset, debit
Which of the following fire extinguisher suppressant types is best used for electrical fires that might result when working with computer components?
  • TurnstileDouble-entry door
  • Carbon dioxide (CO2)
  • Deploy a mantrap
  • Surge protector
To keep your data center safe, you have done the following:Restricted physical access to employees who strictly need to get in the data centerRequired employees to enter a password using a pin pad to enter the data centerDeployed a Faraday cage to keep sensitive network devices safe from external electrical fieldsWhich of the following measures will NOT improve physical security in the data center?
  • 500 resolution, 50mm, .05 LUX
  • protected cable distribution
  • Implement a checkout policy
  • Positive pressure system
Alarmed carriers
  • Protects from over voltagesConditions the power signal
  • Employee passwords are stronger
  • protected cable distribution
  • Perimeter Barrier
An attacker is using an eavesdropping technique called Van Eck phreaking on a networking closet.Which of the following describes what the attacker is doing?
  • Employee passwords are stronger
  • Make sure everyone has cleared the area
  • protected cable distribution
  • Collecting electronic emissions
You maintain the network for an industrial manufacturing company. You are concerned about the dust in the area getting into the server components and affecting the ability of the network.Which of the following should you implement?
  • Implement a checkout policy
  • Employee passwords are stronger
  • Implement a hardware checkout policy
  • Positive pressure system
Which of the following statements about ESD is not correct?
  • Escort visitors at all timesRequire identification and name badges for all employees
  • ESD is much more likely to occur when the relative humidity is above 50%
  • Keep the router in a locked room
  • Locks on doors
Which option is a secure doorway that can be used in coordination with a mantrap to allow easy egress from a secured environment while actively preventing re-entrance through the exit portal?
  • Varifocal
  • Carbon dioxide (CO2)
  • Turnstiles
  • CO2Halon
Emergency escape plans
  • safety
  • Class C
  • door locks
  • Perimeter Barrier
Which of the following fire extinguisher types is best used for the electrical fires that might result when working with computer components?
  • Carbon dioxide (CO2)
  • Deploy a mantrap
  • Class C
  • Varifocal
anti-passback system
  • door locks
  • Perimeter Barrier
  • Physical Access Control
  • protected cable distribution
Beside protecting a computer from under voltages, a typical UPS also performs which two actions?
  • Direct him to the front entrance and instruct him to check in with the receptionist
  • Protects from over voltagesConditions the power signal
  • ESD is much more likely to occur when the relative humidity is above 50%
  • Keep the router in a locked room
Components within your server room are failing at a rapid pace. You discover that the humidity in the server room is at 60% and the temperature is at 80 degrees.What should you do?
  • Collecting electronic emissions
  • Make sure everyone has cleared the area
  • Add a separate A/C unit in the server room
  • Expand the area visible by security guards
Which of the following is the least effective power loss protection for computer systems?
  • One-time passwords
  • Surge protector
  • Deploy a mantrap
  • Locks on doors
Which of the following is the most important thing to do to prevent console access to the router?
  • Surge protector
  • One-time passwords
  • Keep the router in a locked room
  • TurnstileDouble-entry door
Which of the following can be used to stop piggybacking at a front entrance where employees should swipe smart cards to gain entry?
  • One-time passwords
  • Surge protector
  • Deploy a mantrap
  • Carbon dioxide (CO2)
You are an IT consultant. You are visiting a new client's site to become familiar with their network. As you walk around their facility, you note the following:• When you enter the facility, a receptionist greets you and escorts you through a locked door to the work area, where the office manager sits.• The office manager informs you that the organization's servers are kept in a locked closet. An access card is required to enter the server closet.• She informs you that server backups are configured to run each night. A rotation of tapes are used as the backup media.• You notice the organization's network switch is kept in the server closet.• You notice that a router/firewall/content filter UTM device has been implemented in the server closet to protect the internal network from external attacks.The office manager informs you that her desktop system will no longer boot and asks you to repair or replace it, recovering as much data as possible in the process. You take the workstation back to your office to work on it. Which security-related recommendations should you make to this client?
  • Implement a hardware checkout policy
  • 500 resolution, 50mm, .05 LUX
  • Positive pressure system
  • Implement a checkout policy
You are an IT consultant. You are visiting a new client's site to become familiar with their network. As you walk around their facility, you note the following: When you enter the facility, a receptionist greets you and directs you down the hallway to the office manager's cubicle. The receptionist uses a notebook system that is secured to her desk with a cable lock.The office manager informs you that the organization's servers are kept in a locked closet. Only she has the key to the closet. When you arrive on site, you will be required to get the key from her to access the closet.She informs you that server backups are configured to run each night. A rotation of external USB hard disks are used as the backup media.You notice that the organization's network switch is kept in an empty cubicle adjacent to the office manager's workspace.You notice that a router/firewall/content filter all-in-one device has been implemented in the server closet to protect the internal network from external attacks.Which security-related recommendations should you make to this client?
  • Place your networking equipment in a locked cagePlace your networking equipment in a room that requires key card entry
  • Relocate the switch to the locked server closetControl access to the work area with locking doors and card readers
  • Make sure everyone has cleared the area
  • Direct him to the front entrance and instruct him to check in with the receptionist
Barricades
  • Perimeter Barrier
  • protected cable distribution
  • Deploy a mantrap
  • One-time passwords
One of the ways attackers can access unencrypted data being transmitted on your network is by collecting electronic emissions that come from your networking closet or Ethernet cables.Which of the following is NOT a good solution to this problem?
  • Add a separate A/C unit in the server room
  • Make sure everyone has cleared the area
  • Collecting electronic emissions
  • Configure all data transmissions to be encrypted
biometric authentication
  • door locks
  • Varifocal
  • Locks on doors
  • Perimeter Barrier
Exterior floodlights
  • Perimeter Barrier
  • protected cable distribution
  • door locks
  • One-time passwords
Which of the following is not an example of a physical barrier access control mechanism?
  • Locks on doors
  • One-time passwords
  • Deploy a mantrap
  • Surge protector
You want to use CCTV to increase the physical security of your building. Which of the following camera types would offer the sharpest image at the greatest distance under the lowest lighting conditions?
  • Positive pressure system
  • 500 resolution, 50mm, .05 LUX
  • Implement a checkout policy
  • Implement a hardware checkout policy
You walk by the server room and notice that a fire started. What should you do first?
  • Make sure everyone has cleared the area
  • Collecting electronic emissions
  • Keep the router in a locked room
  • Expand the area visible by security guards
Which of the following are solutions that address physical security?
  • Surge protector
  • ESD is much more likely to occur when the relative humidity is above 50%
  • One-time passwords
  • Escort visitors at all timesRequire identification and name badges for all employees
What is the primary benefit of CCTV?
  • Make sure everyone has cleared the area
  • ESD is much more likely to occur when the relative humidity is above 50%
  • Expand the area visible by security guards
  • Keep the router in a locked room
Emergency lighting
  • door locks
  • protected cable distribution
  • safety
  • Perimeter Barrier
You want to use CCTV to increase your physical security. You want the ablity to remotely control the camera position. Which camera type should you choose?
  • Direct him to the front entrance and instruct him to check in with the receptionist
  • Make sure everyone has cleared the area
  • 50%
  • PTZ
property, plant and equipment
  • fixed assets, include land and assets that depreciate over period of time (equipment, machinery, building)
  • What affect will this entry have on the accounting records?Debit Accounts Payable Credit Cash
  • accounts that are relatively permanent from year to year
  • the balance of the owner's drawing account is transferred to the owner's capital account
income statement, statement of owner's equity, balance sheet
  • The order of the trial balance is
  • Rent Revenue, Fees Earned, Miscellaneous Expense
  • The financial statement that presents a summary of the revenues and expenses of a business for a specific period of time, such as month or year is called a(n)
  • the correct order to prepare the financial statements is
The account type and normal balance of Fees earned is
  • revenues, expenses, and drawing
  • Rent Revenue
  • revenue, credit
  • current asset
cost of merchandise sold
  • asset debit
  • revenue, credit
  • expense, debit
  • expense debit
utilities expense
  • Revenues - Expenses = Net Income
  • expenses
  • expense, debit
  • current asset
Unearned Revenue
  • liability
  • liability, credit
  • are called permanent or real accounts
  • expense, debit
natural business cycle
  • when a corporation adopts a fiscal year that ends when business activities have reached the lowest point in its annual operating cycle
  • balance sheet that is expanded by adding subsection for assets and liabilities
  • are called permanent or real accounts
  • the accounting process that begins with analyzing and journalizing transactions and ends with the post-closing trial balance
If there is a balance in the unearned subscriptions account after adjusting entries are made, it represents a(n)
  • Service Revenue
  • Step 9: Journalizing and posting closing entries
  • expenses
  • deferral
step 6
  • A post-closing trial balance is prepared
  • adjusting entries are journalized and posted to ledger
  • Current assets divided by current liabilities
  • Accounts that report amounts for only one period.
less accumulated depreciation
  • revenue, credit
  • current assets and property, plant and equipment
  • contra asset
  • asset, debit
accounts payable
  • liability
  • asset, debit
  • revenue, credit
  • liability, credit
step 10
  • A post-closing trial balance is prepared
  • capital (OE) credit balance
  • The post-closing trial balance should be completed:
  • Current assets divided by current liabilities
balance sheet
  • which of the following financial statements reports information as of a specific date
  • The ____________ is where a transaction can first be found in the accounting records
  • are called permanent or real accounts
  • What affect does the following transaction have on the accounting records?Debit Supplies Expense Credit Supplies
revenue and expense account flow into
  • The pupose of closing temporary accounts is
  • revenue, credit
  • balance sheet
  • the income statement
step 2
  • Availability to convert assets into cash
  • transaction are analyzed and recorded in the journal
  • Closing entries are journalized and posted to the ledger.
  • transaction are posted to the ledger
Accounts payable would appear on the balance sheet as a(n)
  • liability
  • asset, debit
  • liability credit
  • asset
prepaid expense
  • asset
  • revenue credit
  • asset, debit
  • revenue, credit
rent expense
  • asset, debit
  • a deferred expense
  • expense, debit
  • contra asset
notes payable
  • liabilities
  • asset, debit
  • liability credit
  • liability, credit
The difference between the balance of a fixed asset account and the related accumulated depreciation account is termed
  • fees earned
  • book value
  • Service Revenue
  • asset
First closing entry
  • Revenue and expense account balances are transferred to the owners capital account
  • when a corporation adopts a fiscal year that ends when business activities have reached the lowest point in its annual operating cycle
  • Revenues - Expenses = Net Income
  • revenue credit
asset
  • an unadjusted trial balance is prepared
  • transaction are posted to the ledger
  • asset, debit
  • prepaid insurance is an
step 8
  • transaction are posted to the ledger
  • The process of transferring debits and credits from the journal entries to the account ledger is called
  • Financial statements are prepared (income, owner's equity, balance sheet, statement of cash flow)
  • according to the steps of the accounting cycle in what order should the trial balance be prepare
Prepaid insurance is reported on the balance sheet as a
  • revenue, credit
  • current asset
  • contra asset
  • current and long-term liabilities
step 7
  • adjusting entries are journalized and posted to ledger
  • adjustment data are assembled and analyzed
  • total debits are equal to total credits
  • An adjusted trial balance is prepared
classified blanace sheet
  • balance sheet that is expanded by adding subsection for assets and liabilities
  • is not characterized by any of these answer choices.
  • cash and other assets expected to be exchanged for cash or consumed within a year
  • accounts that are relatively permanent from year to year
assets liability and owner's equity account flow into
  • balance sheet that is expanded by adding subsection for assets and liabilities
  • balance sheet
  • contra asset
  • asset, debit
step 1
  • Financial statements are prepared (income, owner's equity, balance sheet, statement of cash flow)
  • transaction are analyzed and recorded in the journal
  • Closing entries are journalized and posted to the ledger.
  • An adjusted trial balance is prepared
statement of owner's equity
  • net income or loss will be properly reported on the income statement
  • beginning capital + net income - withdrawals = ending capital
  • balance sheet that is expanded by adding subsection for assets and liabilities
  • accounts that are relatively permanent from year to year
balance sheet accounts
  • expense debit
  • Revenues - Expenses = Net Income
  • are called permanent or real accounts
  • Availability to convert assets into cash
cash
  • which of the following financial statements reports information as of a specific date
  • What affect will this entry have on the accounting records?Debit Accounts Payable Credit Cash
  • The process of transferring data from the journal to the ledger accounts is called
  • What is the first account that should be listed in the post-closing trial balance?
to report amounts for only 1 period temporary accounts should have ____ balance at the beginning of next period
  • Service Revenue
  • 0
  • book value
  • Land
The balance of the accumulated depreciation account on the adjusted trial balance of the end-of-period spreadsheet would be reported on which of the following financial statements?
  • liability, credit
  • Service Revenue
  • revenue, credit
  • balance sheet
How will the following adjusting journal entry affect the accounting equation?Unearned Subscriptions 11,500 Subscriptions Earned 11,500
  • decrease liabilities, increase revenues
  • Assets = Liabilities + capital
  • when financial statements are prepared
  • Service Revenue
working capital
  • The excess of the current assets of a business over its current liabilities.working capital = current assets- current liabilities
  • What affect does the following transaction have on the accounting records?Debit Supplies Expense Credit Supplies
  • statements of owner's equity
  • The process of transferring data from the journal to the ledger accounts is called
management, creditor, investors
  • Revenues - Expenses = Net Income
  • are called permanent or real accounts
  • the income statement
  • Financial statements are used by
solvency
  • liabilities owed for more than a year
  • the ability of a business to pay its debts
  • Debts owed by business are referred to as:
  • transaction are posted to the ledger
current assets
  • must be journalized and posted
  • What is the first account that should be listed in the post-closing trial balance?
  • cash and other assets expected to be exchanged for cash or consumed within a year
  • A financial statement user would determine if a company was profitable or not during a specific period of time by reviewing the
to zero out temporary accounts to prepare for the next accounting period
  • The pupose of closing temporary accounts is
  • statements of owner's equity
  • Debit supplies; Credit accounts payable
  • The post-closing trial balance will include
Given the following Account Balances, the entry to close Capital during step one of the two step closing process would be a ______________.Fees Earned $1,000Rent Expense $600
  • expenses
  • used
  • credit
  • $11,500
sales
  • an unadjusted trial balance is prepared
  • expense, debit
  • revenue credit
  • asset, debit
Prepaid rent, representing rent for the next six months' occupancy, would be reported on the tenant's balance sheet as a(n)
  • credit
  • asset
  • True
  • used
accrued revenues would appear on the balance sheet as
  • balance sheet
  • used
  • asset
  • True
equipment
  • asset debit
  • asset, debit
  • asset
  • expense, debit
The cost of office supplies to be used in future periods is ordinarily shown on the balance sheet as a(n)
  • asset
  • expenses
  • True
  • cash
statement of cash flow
  • cash and other assets expected to be exchanged for cash or consumed within a year
  • the correct order to prepare the financial statements is
  • If an owner wanted to know how much money flowed into and out of the company, which financial statement would the owner use?
  • The order of the trial balance is
An end-of-period spreadsheet includes columns for
  • adjusting entries
  • Real accounts
  • liability, credit
  • asset, debit
what is the first account that should be listed in the post-closing trial balance
  • revenues, expenses, and drawing
  • asset
  • expenses
  • cash
Liquidity
  • Availability to convert assets into cash
  • liability, credit
  • transaction are posted to the ledger
  • A post-closing trial balance is prepared
step 4
  • current assets and property, plant and equipment
  • adjustment data are assembled and analyzed
  • beginning capital + net income - withdrawals = ending capital
  • asset debit
capital
  • An adjusted trial balance is prepared
  • prepaid insurance is an
  • Debts owed by business are referred to as:
  • capital (OE) credit balance
The account type and normal balance of Unearned Revenue is
  • liability, credit
  • asset, debit
  • Rent Revenue
  • adjusting entries
The end-of-period spreadsheet
  • accounts that are relatively permanent from year to year
  • Revenue and expense account balances are transferred to the owners capital account
  • the balance of the owner's drawing account is transferred to the owner's capital account
  • is used to summarize account balances and adjustments for the financial statements
assets commonly divided into 2 sections on balance sheet
  • The post-closing trial balance should be completed:
  • current assets and property, plant and equipment
  • statements of owner's equity
  • total debits are equal to total credits
Supplies are recorded as assets when purchased. Therefore, the credit to Supplies in the adjusting entry is for the amount of supplies
  • fees earned
  • expenses
  • used
  • asset
temporary or nominal accounts
  • is used to summarize account balances and adjustments for the financial statements
  • Accounts that report amounts for only one period.
  • Current assets divided by current liabilities
  • is not characterized by any of these answer choices.
Diane's Designs purchased a one-year liability insurance policy on March 1 of a year for $8,400 and recorded it as a prepaid expense. Which of the following amounts would be recorded as insurance expense during the adjusting process at the end of Diane's first month of operations on March 31?
  • $11,500
  • $700
  • used
  • True
accounts receivable
  • expense debit
  • asset, debit
  • liability credit
  • liability, credit
accounting cycle
  • asset, debit
  • Debit Accounts Receivable; credit fees earned
  • The ____________ is where a transaction can first be found in the accounting records
  • the accounting process that begins with analyzing and journalizing transactions and ends with the post-closing trial balance
By matching revenues and expenses in the same period in which they incur
  • Rent Revenue, Fees Earned, Miscellaneous Expense
  • Step 6: Journalizing and posting adjusting entries
  • net income or loss will be properly reported on the income statement
  • Step 9: Journalizing and posting closing entries
step 5
  • January 1 to December 31.
  • the correct order to prepare the financial statements is
  • If an owner wanted to know how much money flowed into and out of the company, which financial statement would the owner use?
  • an optional end of period spreadsheet is prepared
Fill in the blank The ___________ element displays a visual gauge of numeric value within a known range.
  • Meter
  • Text Links
  • Thumbnails
  • Tiled
Fill in the blankAn _____________ image is a smaller version of a larger image that usually links to the larger image.
  • box- shadow
  • Text Links
  • Thumbnails
  • Tiled
Fill in the blank A background image will automatically be repeated, or ______________, by a web browser.
  • Thumbnails
  • Text Links
  • Tiled
  • Meter
0:0:1



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