{"id":200699,"date":"2018-09-13T22:20:56","date_gmt":"2018-09-13T22:20:56","guid":{"rendered":"http:\/\/localhost\/wordpress\/index.php\/2018\/09\/13\/acct-212-week-4-midterm-set-2\/"},"modified":"2018-10-24T09:14:24","modified_gmt":"2018-10-24T09:14:24","slug":"acct-212-week-4-midterm-set-2","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/acct-212-week-4-midterm-set-2\/","title":{"rendered":"ACCT 212 Week 4 Midterm (Set 2)"},"content":{"rendered":"<p>1.\u00a0(TCO\u00a01)\u00a0Suppose\u00a0your\u00a0company\u00a0sold\u00a0$50,000\u00a0in\u00a0merchandise\u00a0to\u00a0a\u00a0customer\u00a0for\u00a0cash.\u00a0How\u00a0does\u00a0this\u00a0transaction\u00a0impact\u00a0the\u00a0accounting\u00a0equation?\t2.\u00a0(TCO\u00a02)\u00a0Suppose\u00a0your\u00a0company\u00a0paid\u00a0$12,000\u00a0in\u00a0cash\u00a0for\u00a0a\u00a0used\u00a0car.\u00a0How\u00a0does\u00a0this\u00a0transaction\u00a0impact\u00a0the\u00a0accounting\u00a0equation?\t3.\u00a0(TCO\u00a03)\u00a0Pressure\u00a0is\u00a0one\u00a0of\u00a0the\u00a0components\u00a0of\u00a0the\u00a0fraud\u00a0triangle.\u00a0What\u00a0types\u00a0of\u00a0pressures\u00a0do\u00a0people\u00a0face\u00a0that\u00a0could\u00a0lead\u00a0to\u00a0fraud?\u00a0Give\u00a0an\u00a0example\u00a0of\u00a0how\u00a0pressure\u00a0could\u00a0lead\u00a0to\u00a0fraud\t4.\u00a0(TCO\u00a04)\u00a0How\u00a0does\u00a0vertical\u00a0analysis\u00a0of\u00a0financial\u00a0statements\u00a0differ\u00a0from\u00a0horizontal\u00a0analysis?\u00a0Which\u00a0method\u00a0do\u00a0you\u00a0think\u00a0is\u00a0a\u00a0better\u00a0analysis\u00a0tool?\t1.\u00a0(TCO\u00a03)\u00a0Physical\u00a0control\u00a0is\u00a0a\u00a0key\u00a0feature\u00a0in\u00a0an\u00a0internal\u00a0control\u00a0system.\u00a0Why\u00a0is\u00a0physical\u00a0control\u00a0such\u00a0an\u00a0important\u00a0internal\u00a0control?\u00a0Give\u00a0an\u00a0example\u00a0of\u00a0physical\u00a0control\u00a0as\u00a0an\u00a0internal\u00a0control.\t2.\u00a0(TCO\u00a01)\u00a0Describe\u00a0the\u00a0income\u00a0statement.\u00a0Why\u00a0is\u00a0this\u00a0statement\u00a0important\u00a0to\u00a0the\u00a0company,\u00a0creditors,\u00a0and\u00a0investors?\t3.\u00a0(TCO\u00a04)\u00a0Name\u00a0and\u00a0describe\u00a0one\u00a0liquidity\u00a0ratio.\u00a0What\u00a0does\u00a0this\u00a0ratio\u00a0measure?\u00a0What\u00a0is\u00a0the\u00a0formula\u00a0for\u00a0this\u00a0ratio?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>1.\u00a0(TCO\u00a01)\u00a0Suppose\u00a0your\u00a0company\u00a0sold\u00a0$50,000\u00a0in\u00a0merchandise\u00a0to\u00a0a\u00a0customer\u00a0for\u00a0cash.\u00a0How\u00a0does\u00a0this\u00a0transaction\u00a0impact\u00a0the\u00a0accounting\u00a0equation? 2.\u00a0(TCO\u00a02)\u00a0Suppose\u00a0your\u00a0company\u00a0paid\u00a0$12,000\u00a0in\u00a0cash\u00a0for\u00a0a\u00a0used\u00a0car.\u00a0How\u00a0does\u00a0this\u00a0transaction\u00a0impact\u00a0the\u00a0accounting\u00a0equation? 3.\u00a0(TCO\u00a03)\u00a0Pressure\u00a0is\u00a0one\u00a0of\u00a0the\u00a0components\u00a0of\u00a0the\u00a0fraud\u00a0triangle.\u00a0What\u00a0types\u00a0of\u00a0pressures\u00a0do\u00a0people\u00a0face\u00a0that\u00a0could\u00a0lead\u00a0to\u00a0fraud?\u00a0Give\u00a0an\u00a0example\u00a0of\u00a0how\u00a0pressure\u00a0could\u00a0lead\u00a0to\u00a0fraud 4.\u00a0(TCO\u00a04)\u00a0How\u00a0does\u00a0vertical\u00a0analysis\u00a0of\u00a0financial\u00a0statements\u00a0differ\u00a0from\u00a0horizontal\u00a0analysis?\u00a0Which\u00a0method\u00a0do\u00a0you\u00a0think\u00a0is\u00a0a\u00a0better\u00a0analysis\u00a0tool? 1.\u00a0(TCO\u00a03)\u00a0Physical\u00a0control\u00a0is\u00a0a\u00a0key\u00a0feature\u00a0in\u00a0an\u00a0internal\u00a0control\u00a0system.\u00a0Why\u00a0is\u00a0physical\u00a0control\u00a0such\u00a0an\u00a0important\u00a0internal\u00a0control?\u00a0Give\u00a0an\u00a0example\u00a0of\u00a0physical\u00a0control\u00a0as\u00a0an\u00a0internal\u00a0control. 2.\u00a0(TCO\u00a01)\u00a0Describe\u00a0the\u00a0income\u00a0statement.\u00a0Why\u00a0is\u00a0this\u00a0statement\u00a0important\u00a0to\u00a0the\u00a0company,\u00a0creditors,\u00a0and\u00a0investors? 3.\u00a0(TCO\u00a04)\u00a0Name\u00a0and\u00a0describe\u00a0one\u00a0liquidity\u00a0ratio.\u00a0What\u00a0does\u00a0this\u00a0ratio\u00a0measure?\u00a0What\u00a0is\u00a0the\u00a0formula\u00a0for\u00a0this\u00a0ratio?<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-200699","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/200699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=200699"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/200699\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=200699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=200699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=200699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}