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ACCT 212 Final Exam Answers |
ACCT 212 Final Exam Answers(TCO 1) To evaluate the financial operation and health of a business ratioanalysis is used. (1) Provide the formula for the Acid-test (or Quick) Ratioand explain how it is computed (10 points) and (2) provide an example of howthis ratio can be used in decision-making in business.(TCO 3) At the end of the period it is necessary to close all temporaryaccounts. (1) Explain why this process is required (10 points) and (2) providean example of the closing of an expense account, Supplies Expense in the formof a journal entry |
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ACCT 212 Final Exam Answers(TCO 1) To evaluate the financial operation and health of a business ratioanalysis is used. (1) Provide the formula for the Acid-test (or Quick) Ratioand explain how it is computed (10 points) and (2) provide an example of howthis ratio can be used in decision-making in business.(TCO 3) At the end of the period it is necessary to close all temporaryaccounts. (1) Explain why this process is required (10 points) and (2) providean example of the closing of an expense account, Supplies Expense in the formof a journal entry |
ACCT 212 Final Exam Answers |
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ACCT 212 Final Exam Answers |
ACCT 212 Final Exam Answers(TCO 1) To evaluate the financial operation and health of a business ratioanalysis is used. (1) Provide the formula for the Acid-test (or Quick) Ratioand explain how it is computed (10 points) and (2) provide an example of howthis ratio can be used in decision-making in business.(TCO 3) At the end of the period it is necessary to close all temporaryaccounts. (1) Explain why this process is required (10 points) and (2) providean example of the closing of an expense account, Supplies Expense in the formof a journal entry |
