ACCT 304 Intermediate Accounting – Week 4 Midterm

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<p>ACCT 304 Intermediate Accounting Week 4 Midterm Follow the link below to purchase the Exam Visit Website: Please contact us for more Tutorial &amp; Help ( ACCT 304 Intermediate Accounting 1. Question: (TCO 1) The SEC issues accounting standards in the form of: 2. Question: (TCO2) The FASB's conceptual framework's qualitative characteristics ofaccounting information include: 3. Question: (TCO 2) The conceptual framework's recognition and measurement conceptsrecognize which of the following as a principle, rather than an assumption? 4. Question: (TCO 2) The assumption that in the absence of contrary information a businessentity will continue indefinitely is the: 5. Question: (TCO 3) XYZ Corporation receives $100,000 from investors for issuing themshares of its stock. XYZ's journal entry to record this transaction would include a: 6. Question: (TCO 3) Recording revenue earned, but not yet collected, from a customer isan example of: 7. Question: (TCO 4) Accrued expenses: 8. Question: (TCO 3) Cost of goods sold is: 9. Question: (TCO 3) When an employer makes an end-of-period adjusting entry with adebit to supplies expense, the usual credit entry is made to: Question: (TCO 2) What are the key provisions of the Public Company Accounting Reform andInvestor Protection (Sarbanes-Oxley) Act of 2002? 2. Question: (TCO 4) Provide an example of a liability that would not require the paymentof cash. 3. Question: (TCO 5) List at least four operating activities that would be reported in thestatement of cash flows for Wal-Mart. Assume the use of the direct method. </p>