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Which of the following best describes the expense matching principle? 

On January 1st, a company borrowed $50,000 cash from a bank (to be paid back in 2 years). What would be the journal entry to record this transaction on January 1st?

Which of the following accounts is used to record an accrual for expenses? 

Below is a transaction that was completed during 2020 by ABC Company. The accounting period ends on December 31, 2020.Record the adjusting journal entry for December 31, 2020 in the text box below.  $200 of product was delivered to a customer on December 31, 2020, but the customer has not yet paid cash for this product.

A company purchased supplies for cash, which will be consumed during future months. Which of the following correctly describes the impact of the supplies purchase on the financial statements (in the initial month of purchase)?

For the following transaction, determine the effect of the transaction on the below 2 financial statement components (just list your answer as increase, decrease, or no effect). (No journal entry required). A company declared and paid $1000 of dividends to stockholders. a) Stockholders’ equity _____b) Assets ______

Drag and drop items to the appropriate category.

Who was the fourth president of the US?

Match the state with the capital.

Welcome to your Final Exam! You are able to access Blackboard and your textbook on OpenStax while taking this exam. To access these materials, click “Assessment Details” in the blue toolbar, the guidelines will open. You can then open the drop down for “Allowed Site URLs” and select the links directly from there. You are also welcome to reference any written or printed paper notes. You are also welcome to reference any written or printed paper notes. This exam will cover content from chapters 1-12. Please reach out to me via email (adelyn.emter@und.edu) if you encounter any issues. You’ve got this!