ACCT 504 Invent Youself/uophelp.com ACCT 504 Invent Youself/uophelp.com

ACCT 504 Final Exam Guide( 2 Set, New 2017) For more course tutorials visit www. uophelp. com

This Tutorial contains 2 Set of Final Exam

Question 1.1.( TCO D) Please describe the purpose of the Income Statement and the interrelationship between the income statement and the other major financial statements that we covered in this class. In your answer, please also address which financial statements should be created before the Income Statement, if any, and which financial statements need to be completed after the Income Statement, if any.( Points: 25)

Question 1— Set 2 1. Please describe the purpose of the Balance Sheet and the interrelationship between the balance sheet and the other major financial statements that we covered in this class. In your answer, please also address which financial statements should be created before the Balance Sheet, if any, and which financial statements need to be completed after the Balance Sheet, if any

Question 2.2.( TCO E) Your friend, Lisa, plans to open a nail salon. Lisa states that she does not have time to develop and implement a system of internal controls.( a) Explain to Lisa the components of internal control.( 10 points)