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Week 4DQ1 Inventory Management
Week 4DQ2 LIFO
Week 5DQ1 Non-current Assets and Related Liabilities
Week 5DQ2 Raising Capital (Cash)
Week 6DQ1 Stockholders Equity
Week 6DQ2 Net Income vs. Net Operating Cash
Week 7DQ1 Financial Statement Analysis
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ACCT 212 Week 4 Midterm (Set 2)
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1. (TCO 1) Suppose your company sold $50,000 in merchandise to a cus
tomer for cash. How does this transaction impact the accounting equatio
n?
2. (TCO 2) Suppose your company paid $12,000 in cash for a used car.
How does this transaction impact the accounting equation?
3. (TCO 3) Pressure is one of the components of the fraud triangle. What
types of pressures do people face that could lead to fraud? Give an exa
mple of how pressure could lead to fraud
4. (TCO 4) How does vertical analysis of financial statements differ fro
m horizontal analysis? Which method do you think is a better analysis to
ol?
1. (TCO 3) Physical control is a key feature in an internal control system.
Why is physical control such an important internal control? Give an exa
mple of physical control as an internal control.
2. (TCO 1) Describe the income statement. Why is this statement import
ant to the company, creditors, and investors?