7 accounting questions. mid term like questions. Need more than a


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7 accounting questions. mid term like questions. Need more than a sentence like a paragraph or more if needed. Will tip $20 if complete in 2 hours. Mid Term Palmer.docx 1. (TCO 1) What type of accounting information is provided to external users? What type of accounting information is provided to internal users? (Points : 12) 2. (TCO 2) Suppose your company sold $50,000 in merchandise to a customer for cash. How does this transaction impact the accounting equation? (Points : 12) 3. (TCO 3) Rationalization is one of the components of the fraud triangle. What types of rationalization could a person use to justify misconduct? How can a company protect itself from rationalization as a part of fraud? (Points : 12) 4. (TCO 4) What is horizontal analysis of financial statements? How does horizontal analysis differ from vertical analysis? (Points : 12) 5. (TCO 3) Physical control is a key feature in an internal control system. Why is physical control such an important internal control? Give an example of physical control as an internal control. (Points : 24) 6. (TCO 1) Describe the balance sheet. Why is this statement important to the company, creditors, and investors? (Points : 24) 7. (TCO 4) Name and describe one liquidity ratio. What does this ratio measure? What is the formula for this ratio? (Points : 24)

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