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 )