DEVRY ACCT 301 Final Exam
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ACCT 301 Final Exam
1.( TCO 1) What is the accounting equation? Suppose your company sold $ 12,000 in merchandise to a customer for cash. How does this transaction impact the accounting equation?( Points: 17)
2.( TCO 2) What are the four basic financial statements? Describe the balance sheet, and explain why it is important
Q3What is the Sarbanes-Oxley Act? Do you think this act has more importance for the accounting profession or for investors? Why
Q4What is horizontal analysis of financial statements? How does horizontal analysis differ from vertical analysis?
1.( TCO 8) Why is capital budgeting important? What is the IRR method? How is it calculated?( Points: 26)