ACCT 200 Study Guide - Midterm Guide: Deferral, Extended Periodic Table, Income Statement
Document Summary
Be able to state on which financial statement they appear: a. b. c. assets liabilities equity dividends revenue d. e. expenses f. g. h. cash flows from operating activities cash flows from investing activities i. cash flows from financing activities. Be able to define the following accounting concepts: a. b. c. d. e. f. g. h. business entity cost going concern matching objectivity unit of measure adequate disclosure accounting period. Be able to define the four types of end of period adjustments and give an example of each type: a. b. c. d. deferred revenue accrued revenue deferred expense accrued expense. Be able to identify and compute all the parts of the classified balance sheet: a. b. c. d. e. f. g. current assets long term (fixed) assets (ppe) total assets current liabilities long term liabilities total liabilities total equity.
