Bus 101 Exam 2 Kahoot Questions

This study source was downloaded by 100000802832151 from CourseHero.com on 11-02-2022 01:27:46 GMT -05:00https://www.coursehero.com/file/78935160/Exam-2-Kahoot-Questionsdocx/ Exam 2 KahootQuestions Chapter 3 1. The most common accounting period?1. Annually2. Semi-annually3. Quarterly4. Monthly2. External Auditors usually audit a company?a. Annuallyb. Semi annuallyc. Quarterlyd. Monthly3. Internal Auditors usually audit a company?a. Annuallyb. Semi-annuallyc. Dailyd. Monthly4. This method dictates that Revenue be recognized when the cash is actually received?a. Cash basis methodb. Accrual basis method5. This message is not considered GAPP?a. Cash basis methodb. Accrual basis method6. T/F - you should recognize Revenue in the accounting period the service is completed?a. Trueb. False7. When unrecorded expenses and revenues exist in an adjusting entry, it is known as a?a. Deferralb. Accrualc. Adjustmentd. Resource8. Which is the correct formula for SL Depreciation?a. (Useful Life - Salvage Value) + Asset Costb. Salvage Value - Asset CostThis study source was downloaded by 100000802832151 from CourseHero.com on 11-02-2022 01:27:46 GMT -05:00https://www.coursehero.com/file/78935160/Exam-2-Kahoot-Questionsdocx/c. (Asset Cost - Salvage Value) / Useful Lifed. Asset Cost - Salvage Value 9. Warner Inc purchased a car: $35,000, with a useful life of 4 years, w/ plans to sell it at$3,000. Calc Straight Line Depreciation?a. $6,000b. $3,000c. $4,000d. $8,00010. An adjusting entry,a. Affects to balance sheet accountsb. Affects