ACC 499 Midterm Exam: Comprehensive Accounting Concepts and Principles Kaplan University

A midterm exam covering comprehensive accounting concepts, principles, and financial analysis techniques.

Ethan Brown

Contributor

4.7

7 months ago

Preview (3 of 8 Pages)

100%

Purchase to unlock

ACC 499 Midterm Exam: Comprehensive Accounting Concepts and Principles Kaplan University - Page 1 preview image

Loading page ...

ACC 499 Midterm Exam: Comprehensive Accounting Concepts andPrinciples Kaplan UniversityKaplan Univ ACC 499 Midterm Exam with 100 % Correct AnswersQuestion1. Question : An entity that is organized according to state or federal statutes and inwhichownership is divided into shares of stock is aStudent Answer: proprietorship.corporation.partnership.governmental unit. APoints Received: 2 of 2Comments:2. Question : When a product is sold, this cost is often calledStudent Answer: cost of goods sold.revenue.products.retained earnings.Comments:3. Question : Which of the following are business stakeholders?Student Answer: StockholdersSuppliersCustomersAll of thesePoints Received: 2 of 2Comments:4. Question : The role of accounting in business is best defined as

Preview Mode

This document has 8 pages. Sign in to access the full document!

Report

Study Now!

XY-Copilot AI

Unlimited Access

Secure Payment

Instant Access

24/7 Support

Document Chat

Document Details

University

Kaplan University School of Business and Management

Course

ACC 499

Subject

Accounting

Related Documents

View all

Class Notes

Accounting

what really is accounting?

5.0

Class Notes

Master Managerial Accounting Techniques

Honors Managerial Accounting course led by Dr. Michael Newman, focusing on cost analysis, ethics, communication, and real-world application through interactive discussions, case studies, and presentations.

Class Notes

Controlling and Reporting of Real Assets

Overview of asset impairment recognition in accounting: when an asset’s value declines due to damage, market loss, or legal issues, a journal entry records the loss to reflect the asset’s reduced value. Key for reporting real assets like PPE.

Solved Assignments