ACCT 212 DEVRY WEEK 1 COMPLETE WORK LATEST

ACCT 212 DEVRY WEEK 1 COMPLETE WORK LATESTDOWNLOADING IS VERY SIMPLE, YOU CAN DOWNLOADTHIS COURSE HERE:HTTPS://WWW.MINDSBLOW.COM/PRODUCT/ACCT-212-DEVRY-WEEK-1-COMPLETE-WORK-LATEST/ORCONTACT US AT:[email protected] 212 DeVry Week 1 Complete Work LatestACCT 212 DeVry Week 1 Discussion 1I suspect that most of us can view and appreciate most sports such as baseball, football, and basketball.What if you were to view a Cricket World Cup game? If you didn’t know the rules you probably would nothave much fun. The same happens in business if you don’t understand its language – Accounting. Whatrules impact a business’ Accounting Information System? What types of compliance is required?ACCT 212 DeVry Week 1 Discussion 2In this graded discussion, we will be examining the operation of the Accounting Information System (AIS)with the use of problems and exercises from your textbook. The goal is to cover all of the requirements toensure an opportunity for your successful completion of Course Project. Let’s start with Exercise 1-17A.Read about CoffeeShop Doughnuts and select one of the four requirements to answer.ACCT 212 DeVry Week 1 Check PointQuestion 1(TCO 1) The type of accounting that makes projections to determine if a company should build a newstore isfinancial accounting.business accounting.

managerial accounting.projection accounting.Question 2.(TCO 1) The _____ is elected by the stockholders and is responsible for setting policy and appointingofficers.board of directorschief executive officer (CEO)chief financial officer (CFO)advisory councilQuestion 3.(TCO 1) The acronym GAAP stands forgenerally acceptable authorized pronouncements.government authorized accountant principles.generally accepted accounting principles.government audited accounting pronouncements.Question 4.(TCO 1) The accounting assumption that states that the business, rather than its owners, is the reportingunit is theentity assumption.going concern assumption.stable-monetary-unit assumption.historical cost assumption.Question 5.(TCO 1) Another way to state the accounting equation isAssets = Liabilities + Paid-in Capital – Common Stock

Assets = Liabilities + Retained EarningsAssets = Liabilities + Paid-in Capital + Retained EarningsAssets = Liabilities – Paid-in Capital – DividendsQuestion 6.(TCO 1) The assets of a companymust equal the liabilities of the company.include property, plant, and equipment and common stock.represent economic resources that are expected to produce a future benefit.include merchandise inventory and accounts payable.Question 7.(TCO 1) Net income is computed asrevenues – expenses – dividends.revenues + expenses.revenues – expenses.revenues – expenses + dividends.Question 8.(TCO 1) A company’s gross profit for the period is reported on thebalance sheet.income Statement.statement of cash flows.statement of retained earnings.Question 9.(TCO 1) An investor wishing to assess a company’s overall financial position at the end of the periodwould probably examine the

statement of cash flows and the income statement.income Statement onlybalance sheet.statement of retained earnings.Question 10.(TCO 1) What is the proper order for the categories of the statement of cash flows?Financing activities, investing activities, and operating activitiesOperating activities, investing activities, and financing activitiesOperating activities, financing activities, and investing activitiesinvesting activities, financing activities, and operating activities