Accounting (ACC310F)

Case study on the Atlanta School case

Class notes for the Anagene case

Homework number 1 notes

Class Notes and notes on cases

CHAPTER 2 INTRODUCTION TO COST BEHAVIOR AND COST-VOLUME RELATIONSHIPS LEARNING OBJECTIVE 1 1. On a day-to-day basis, managers must manage the activities required to make products and services. True 2. Cost drivers are output measures of both resources and activities. True 3. Cost behavior pertains to how costs affect the activities of an organization. False 4. A key factor in controlling costs is associating costs with activities. True 5. A good example of a cost driver for producti...

Intermediate Accounting,10e (Spiceland) Chapter 2 Review of the Accounting Process Answer Key 1) Owners' equity can be expressed as assets minus liabilities. Answer: TRUE Difficulty: 1 Easy Topic: Accounting equation Learning Objective: 02-01 Understand routine economic events-transactions-and determine their effects on a company's financial position and on specific accounts. Blooms: Remember AACSB: Reflective Thinking AICPA: BB Critical thinking 2) Debits increase asse...

Intermediate Accounting, 9e (Spiceland) Chapter 2 Review of the Accounting Process Answer Key 1) Owners' equity can be expressed as assets minus liabilities. Answer: TRUE Difficulty: 1 Easy Topic: Accounting equation Learning Objective: 02-01 Analyze routine economic events-transactions-and record their effects on a company's financial position using the accounting equation format. Bloom's: Remember AACSB: Reflective Thinking Accessible/AICPA: BB Critical thinking; Keyboa...

Chapter 02 Investments in Equity Securities Multiple Choice Questions 1. Which of the following types of share investment does NOT qualify as a strategic investment? A. Significant influence investments. B. Joint Control investments. C. Investments without significant influence. D. Controlled investments. Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 02-01 Describe the main changes in the reporting of equity investments over...

Student name:__________ TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false. 1) The purpose of accounting is to provide financial information about a business. ⊚ true ⊚ false 2) A firm’s financial affairs are summarized in periodic reports called general ledgers. ⊚ true ⊚ false 3) In a sole proprietorship, the owner is NOT responsible for the debts of the business if the company is unable to pay. ⊚ true ⊚ fals...

CHAPTER 2 THE ACCOUNTING EQUATION AND TRANSACTION ANALYSIS TRUE-FALSE STATEMENTS 1. In order to possess future service potential, an asset must have physical substance. Ans: F LO1 BT: K Difficulty: Easy TOT: .5 min. AACSB: None AICPA FC: Measurement Analysis and Interpretation Subtopic: Assets 2. Owners' claims to total business assets take precedence over the claims of creditors because owners invest assets in the business and are liable for losses. Ans: F ...