FINANCIAL ACCOUNTING: Test on FIRDAY 11/06.

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PLS DO NOT ACCEPT IF YOU ARE NOT FAMILIAR WITH MATERIAL.

4 chapters on test

Chapter 6- sales revenue, receivables and cash ( concepts: Sales discounts, credit card sales Bad debt expense, receivables turnover ratio)

Chapter 7: costs of goods sold ( inventory management and effect on Balance sheet and Income Statement, LIFO FIFO AVERAGE COST METHODS, NRV and holding losses)

chapter 8- DEPRECIATION- (fixed asset turnover, capitlaztions vs expenditures, Net Book value, 3 ways to calculate deprection expense (1. straight line formula 2. units of production method, 3 double declining balance method ) asset impairment

chapter 11- stock holder equity

test will be multiple choice, t charts, filling out balance sheets, etc.

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