BUS-A 100 Study Guide - Midterm Guide: Big Four Accounting Firms, Accounts Payable, Kpmg

• School: IU
• Department: Business
• Course: BUS-A 100
• Professor: All

Document Summary

1 which of the following is not one of the big four accounting firms? a kpmg d deloitte. Pwc e ernst & young c carlton & co. 2 which of the following is true regarding unearned revenue? a both assets and liabilities increase when it is earned. Liabilities decrease and revenue increases when it is earned. c both assets and revenue increase when it is received. d assets increase and liabilities decrease when it is received. e assets increase and liabilities decrease when it is earned. 3 which of the following is true of depreciation? a the cash paid for depreciation is an investing cash outflow. Use the following information to answer questions 4 and 5: Sw corporation borrowed ,000 on october 1, 2013. The company will make no payments on the loan until october 1, 2016 when it will pay ,000. 4 how much is interest expense during 2014? a ,750.