ACCT 301 Week 4 Midterm

1.(TCO 1) Suppose your company sold $25,000 in merchandise
to a customer for cash. How does this transaction impact the accounting
equation?(Points : 12)

</p> </td> </tr> </tbody> </table> <p/> <table> <tbody> <tr> <td> <p><strong>2.</strong>(TCO 2) Suppose your company sold $50,000 in merchandise<br /> to a customer for cash. How does this transaction impact the accounting<br /> equation?(Points : 12)</p> <p><textarea/></p> </td> </tr> </tbody> </table> <p/> <table> <tbody> <tr> <td> <p><strong>3.</strong>(TCO 3) Rationalization is one of the components of the<br /> fraud triangle. What types of rationalization could a person use to justify<br /> misconduct? How can a company protect itself from rationalization as a part<br /> of fraud?(Points : 12)</p> <p><textarea/></p> </td> </tr> </tbody> </table> <p/> <table> <tbody> <tr> <td> <p><strong>4.</strong>(TCO 4) What is horizontal analysis of financial<br /> statements? How does horizontal analysis differ from vertical analysis?(Points : 12)</p> <p></p> </td> </tr> </tbody> </table> </td> </tr> </tbody> </table> <p/> <p/> <p><strong>Page<br /> 2</strong></p> <p></p> <table> <tbody> <tr> <td> <table> <tbody> <tr> <td> <p><strong>1.</strong>(TCO 3) Separation of duties is a key feature in an<br /> internal control system. Why is separation of duties such an important<br /> internal control? Give an example of separation of duties as an internal<br /> control.(Points : 24)</p> <p><textarea/></p> </td> </tr> </tbody> </table> <p/> <table> <tbody> <tr> <td> <p><strong>2.</strong>(TCO 1) Describe the balance sheet. Why is this<br /> statement important to the company, creditors, and investors?(Points : 24)</p> <p><textarea/></p> </td> </tr> </tbody> </table> <p/> <table> <tbody> <tr> <td> <p><strong>3.</strong>(TCO 4) Name and describe one liquidity ratio. What does<br /> this ratio measure? What is the formula for this ratio?(Points : 24)</p> <p></p> </td> </tr> </tbody> </table> </td> </tr> </tbody> </table> <p/></div> </div> </div> <div class="woocommerce-Tabs-panel woocommerce-Tabs-panel--reviews panel entry-content wc-tab" id="tab-reviews" role="tabpanel" aria-labelledby="tab-title-reviews"> <div id="reviews" class="woocommerce-Reviews"> <div id="comments"> <h2 class="woocommerce-Reviews-title">Reviews</h2> <p class="woocommerce-noreviews">There are no reviews yet.</p> </div> <div id="review_form_wrapper"> <div id="review_form"> <div id="respond" class="comment-respond"> <span id="reply-title" class="comment-reply-title">Be the first to review “ACCT 301 Week 4 Midterm” <small><a rel="nofollow" id="cancel-comment-reply-link" href="/product/ACCT-301-Week-4-Midterm/#respond" style="display:none;">Cancel reply</a></small></span><form action="https://courseworkminutes.com/wp-comments-post.php" method="post" id="commentform" class="comment-form" novalidate><p class="comment-notes"><span id="email-notes">Your email address will not be published.</span> Required fields are marked <span class="required">*</span></p><div class="comment-form-rating"><label for="rating">Your rating</label><select name="rating" id="rating" aria-required="true" required> <option value="">Rate…</option> <option value="5">Perfect</option> <option value="4">Good</option> <option value="3">Average</option> <option value="2">Not that bad</option> <option value="1">Very poor</option> </select></div><p class="comment-form-comment"><label for="comment">Your review <span class="required">*</span></label><textarea id="comment" name="comment" cols="45" rows="8" aria-required="true" required>

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