Accounting 101
What is the Accounting Equation?
Assets = Liabilities + Owners Equity
What is the New Name of the Surrey Main Building ?
Maple Building
What is Income after Taxes?
Net Income
COGS
Cost of Goods Sold
What was the profession of the Inventor of bubble gum?
Accounting
A truck costs $60000, salvage value $6000 and useful like is 10 years. Calculate Depreciation
(60000 - 6000)/10 = 5400
Which KPU Campus focuses on Trades and Technology?
KPU Tech ( Cloverdale Campus)
This form is used to report tuition, education, and textbook amounts.
T2202
GAAP
Generally Accepted Accounting Principles
A business transaction between independent parties who are not related and have equal bargaining power??
Arms length Transaction
These represent the types of business organization that use accounting?
Sole Proprietorship, Partnership and Corporations
KPU's Mascot
An Eagle
The principle requiring that audit evidence must be independent and objective is known as this.
Independence
EBITDA
Earnings Before Interest, Taxes, Depreciation, and Amortization
What word in the English language has 3 sets of consecutive double letters?
Bookkeeping
A section of a company's financial statements that includes non-cash items that affect a company's equity.
Other Comprehensive Income
KPU’s student-run newspaper goes by this one-word name.
Runner
This type of risk exists that financial statements may be materially misstated before considering internal controls.
Inherent
WACC
Weighted Average Cost of Capital
What is ASK's Slogan?
Your Success is Accounted for!
Fixed Costs = $25000, selling price per unit = $50, variable cost per unit = $30. How many units must the company sell to achieve a $10000 profit?
1750 units
What does the word Kwantlen Translate to ??
Tireless Runner
This type of control is designed to prevent errors or irregularities before they occur.
Preventive Controls
Financial Accounting Standards Board
On which day do we celebrate International Accounting Day?
November 10th