SUA QUIZ 1 QUESTIONS AND ANSWERS 2026
What is the name of the company? - Answers - Waren Sports Supplies
What type of business is the business? - Answers - Wholesaling
Who does the company distribute goods to and how is it operated? - Answers -
Colleges and universities; a salaried manager and two hourly employees
What are the names of the company's three employees? - Answers - Ray Kramer
(manager)
Jim Adams (employee)
Nancy Ford (employee)
The record keeping have been completed through what date? - Answers - December
15th, 2017
Transactions occur through what period? - Answers - December 16th-31st
What are you required to do? - Answers - Complete documents, perform internal
controls, and record keeping
What are requirements? - Answers - Adjusting and closing entries, annual financial
statements, bank reconciliation, and other information schedules
What is the primary purpose of this aid? - Answers - to demonstrate financial accounting
information flow
What page will help locate all of the materials for this project? - Answers - page 17
Where can the Waren Sports Supply accounting system be found? - Answers - pages
18-24 of the Instructions, Flowcharts, and Ledgers book
What does the knowledge of the accounting system intended to aid you in? - Answers -
the study of auditing, financial accounting, information systems, and as an accounting
and auditing practitioner
What are the 5 related components in the Aid? - Answers - 1. Systems Understanding
Aid Reference book
2. Instructions, Flowcharts, and Ledgers book
3. Journals
4. Document folder
5. File tabs
What is the name of the company? - Answers - Waren Sports Supplies
What type of business is the business? - Answers - Wholesaling
Who does the company distribute goods to and how is it operated? - Answers -
Colleges and universities; a salaried manager and two hourly employees
What are the names of the company's three employees? - Answers - Ray Kramer
(manager)
Jim Adams (employee)
Nancy Ford (employee)
The record keeping have been completed through what date? - Answers - December
15th, 2017
Transactions occur through what period? - Answers - December 16th-31st
What are you required to do? - Answers - Complete documents, perform internal
controls, and record keeping
What are requirements? - Answers - Adjusting and closing entries, annual financial
statements, bank reconciliation, and other information schedules
What is the primary purpose of this aid? - Answers - to demonstrate financial accounting
information flow
What page will help locate all of the materials for this project? - Answers - page 17
Where can the Waren Sports Supply accounting system be found? - Answers - pages
18-24 of the Instructions, Flowcharts, and Ledgers book
What does the knowledge of the accounting system intended to aid you in? - Answers -
the study of auditing, financial accounting, information systems, and as an accounting
and auditing practitioner
What are the 5 related components in the Aid? - Answers - 1. Systems Understanding
Aid Reference book
2. Instructions, Flowcharts, and Ledgers book
3. Journals
4. Document folder
5. File tabs
