41. Journal entries for purchases, purchase discounts, purchase returns and

allowances, sales, sales discounts, sales returns and allowances, delivery

expenses

42. What is internal control and how can it be used to protect a company’s

assets?

43. What are the objectives of internal control?

44. Name three examples that are representative of safeguarding assets.

45. What is meant by the internal control procedure of “separation of duties”?

46. What are bonds? Bond payable? Face value?(maturity value, principal

amount, par value) Maturity date? Stated interest rate? (coupon rate, contract

rate)

47. Bond prices, bond price information quote

48. Stockholders’ Equity two parts. How do you determine total stockholder’s

equity?

49. Classifications, or sections, of the statement: operating activities, investing

activities, financing activities, non-cash investing and financing activities

50. Purpose of the Statement of Cash Flows

Answer rating: 100% (QA)

Journal entries for purchases purchase discounts purchase returns and allowances sales sales discounts sales returns and allowances and delivery expenses Purchases Debit Purchases Credit Accounts Paya... View the full answer