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Started By
Message
Get me an A on this Accounting Open Book Test
Posted on 12/15/09 at 9:09 am
Posted on 12/15/09 at 9:09 am
will anyone help?
Accounting 201 Financial Accounting Course.
Accounting 201 Financial Accounting Course.
2
Posted on 12/15/09 at 9:11 am to LSUBaseballGod82
quote:Really?
Accounting 201
Posted on 12/15/09 at 9:13 am to LSURussian
we just have different course numbers. not the four digit numbers, and I'm not at LSU.
Only 1,900 students here or less. no need to have crazy numbers and alot of courses with different specialization
Only 1,900 students here or less. no need to have crazy numbers and alot of courses with different specialization
Posted on 12/15/09 at 9:15 am to LSUBaseballGod82
Ok, with your LSU avatar photo and your screen name, I guess I "acted stupidly." 
Posted on 12/15/09 at 9:18 am to LSURussian
I did put down i was at Gallaudet and a Washington, DC as "current city" even though i still have a home in Louisiana "can't wait til December 20) flyiiiiiiing home!
Posted on 12/15/09 at 9:40 am to LSURussian
anyway, would you help on some qq's?
Posted on 12/15/09 at 9:43 am to LSUBaseballGod82
Let em fly buddy, I'll try my best. 
Posted on 12/15/09 at 9:46 am to LSUBaseballGod82
quote:Me? I thought you said you want an "A"?
anyway, would you help on some qq's?
Posted on 12/15/09 at 9:49 am to kfizzle85
1) The most widely used of all financial statement ratios is the : quick ratio, inventory turnover ratio, current ratio, accounts receivable turnover ratio.
my guess is current ratio
2) Which of the following statements is false?
a. a good system of internal control is foolproof
b. segregation of duties can be effective in preventing collusion
c. A well designed system of internal control should require qualified employees to perform a task
d. Internal control cannot always be implemented by small companies.
my guess is current ratio
2) Which of the following statements is false?
a. a good system of internal control is foolproof
b. segregation of duties can be effective in preventing collusion
c. A well designed system of internal control should require qualified employees to perform a task
d. Internal control cannot always be implemented by small companies.
Posted on 12/15/09 at 9:54 am to LSUBaseballGod82
1. The most used out of that list would have to be a liquidity ratio IMO. Current/quick
2.a. a good system of internal control is foolproof. Nothing is foolproof.
2.a. a good system of internal control is foolproof. Nothing is foolproof.
Posted on 12/15/09 at 9:56 am to LSUBaseballGod82
1. I would go with A, but that's a completely subjective question, and those are all pretty much ubiquitous.
2. A is the answer as well.
2. A is the answer as well.
Posted on 12/15/09 at 9:56 am to LSUBaseballGod82
yeah but i have to pick quick or current.
Posted on 12/15/09 at 10:14 am to LSUBaseballGod82
Which of the following would not be considered a long-term liability? Bonds payable, Leases, Deferred taxes, Accounts payable.
Posted on 12/15/09 at 10:18 am to LSUBaseballGod82
A/P
Posted on 12/15/09 at 10:20 am to kfizzle85
but isn't Lease considered NOT a Liability? but a rent expense instead?
Posted on 12/15/09 at 10:23 am to LSUBaseballGod82
It depends on the lease. An operating lease is an expense, a capital lease is a liability (keeping it simple).
ETA: But I think the focus of the question is long-term versus short term. A/P is liability <1 yr, the other things can be >1 yr, that is the reasoning for my answer.
ETA: But I think the focus of the question is long-term versus short term. A/P is liability <1 yr, the other things can be >1 yr, that is the reasoning for my answer.
This post was edited on 12/15/09 at 10:25 am
Posted on 12/15/09 at 10:27 am to kfizzle85
I see can you email me? lsubaseballgod82@gmail.com, I may ask you some questions to "support my reasoning" for other questions than flooding this board.
Posted on 12/15/09 at 10:28 am to LSUBaseballGod82
You can just keep posting them in here, no one cares, trust me. I've got absolutely nothing else to do, I don't mind.
Posted on 12/15/09 at 10:28 am to LSUBaseballGod82
Its A/P. Anything under a year isnt long term.
Posted on 12/15/09 at 10:31 am to kfizzle85
Which format of the income statement calculates income from operations?
a. single step format
b. multiple step format
c. both the single step and multiple step format
d. none of the answers are correct
Which of the following is not considered a current asset?
a. Accounts receivable
b. Land
c. Prepaid expenses
d. Marketable securities
I would say C. Prepaid Expense
as for the 1st one, not sure.
a. single step format
b. multiple step format
c. both the single step and multiple step format
d. none of the answers are correct
Which of the following is not considered a current asset?
a. Accounts receivable
b. Land
c. Prepaid expenses
d. Marketable securities
I would say C. Prepaid Expense
as for the 1st one, not sure.
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