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MGT 8803 Week 1(Introduction to Financial Accounting) questions with complete solutions

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A business owned by a single owner correct answer: proprietorship A business owned by more than one owner correct answer: partnership In ___ & ___, the business and the owner(s) are legally one entity - there is unlimited liability and no taxation. correct answer: proprietorship and partner...

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MGT 8803 - Business Strategy questions with complete solutions

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The management process correct answer: planning, organizing, leading, controlling planning correct answer: setting performance objectives and deciding how to achieve them organizing correct answer: arranging tasks, people, and other resources to accomplish the work leading correct answer...

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MGT 8803 Exam II Study Set questions with complete solutions

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Shareholders only receive money after what is done? correct answer: suppliers have been paid wages to workers have been paid. interest to bondholders have been paid. taxes have been paid. Capital Budgeting correct answer: The process of determining exactly which assets to invest in and...

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MGT 8803 Final Prep - Supply Chain Management questions with complete solutions

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responsive supply chains correct answer: Speed Focused. Innovative Products Efficient Supply Chain correct answer: Cost Focused Good for Functional Products Functional Products correct answer: Predictable demand Low inventory cost long product life low inventory cost low product v...

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MGT 8803 Financial Accounting questions with complete solutions

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Proprietorship correct answer: Single Owner; unlimited liability & no taxation Partnership correct answer: More than one owner; unlimited liability & no taxation Corporation correct answer: A business owned by stockholders (shareholders -> board of directors --> top managers); limited...

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GaTech MGT 8803 Marketing questions with complete solutions

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Promotion Types correct answer: 1. personal selling 2. mass selling 3. sales promotion Marketing Mix Levers correct answer: 4 P's - product, place, price, promotion Accumulating correct answer: Collecting products from many small producers Acquisition correct answer: where the compan...

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MGT 8803 Accounts (Exam 1) questions with complete solutions

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cash correct answer: Current Asset (BS) Deferred Revenue correct answer: Current Liability (BS) Treasury Stock correct answer: Contra-Equity (BS) Cost of Goods Sold correct answer: Expense (IS) Interest Expense correct answer: Expense (IS) Sales correct answer: Revenue (IS) S...

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MGT 8803 flashcard questions with complete solutions

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Unit of measurement 3. Going concern 4. Periodicity 5. Materiality What does materiality mean? correct answer: The only information that needs to be disclosed in financial statements is information that will be useful for those who rely on the financial statements to make decisions. What a...

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MGT 8803 GTx OMSA Financial Statement and Ratio Analysis questions with complete solutions

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Why are financial ratios used? correct answer: Used to enable financial statement users to examine how a firm has performed relative to its peers and relative to its own historical performance. What does differences in ratios for the two companies in the same industry indicate? correct answer: ...

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MGT 8803 Final Study| 165 questions| with complete solutions

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3 factors that effect planning of organization correct answer: 1) organization level (more heirarchy better with more stability) 2) degree of uncertainty (more uncertain, shorter planning horizon) 3) length of future commitments (planning horizon should be as long as length of longest commitment ...

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MGT 8803 – Accounting| 178 questions| with complete solutions

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Forms of Businesses: Proprietorship & Partnership • ____________liability • No ____________ (on the business; the owner, however days pay taxes) Corporation (Shareholders -> Board of Directors -> Top Managers) • ____________ liability • Taxation (corporations pay taxes, sh...

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Georgia Tech OMSA Accounting Part for Business Fundamentals MGT 8803 (Fundamentals for Business Analytics) questions with complete solutions

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Which one of the following is reported on the Balance Sheet at current market value? a) Accounts Receivable b) Buildings c) Treasury Stock d) Land e) Marketable Securities correct answer: e) Marketable Securities The form of business organization that is legally separate from its owners...

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MGT 8803 GTx OMSA Financial Accounting - Basic Understanding of FA

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Balance Sheet correct answer: A financial statement that reports assets, liabilities, and owner's equity on a specific date. Income Statement correct answer: A financial statement showing the revenue and expenses for a fiscal period. What is net income? correct answer: Revenues - Expenses ...

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MGT 8803 Formulas

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Ending Retained Earnings correct answer: beginning retained earnings + net income - dividends Statement of Stockholders' Equity correct answer: Beginning Stockholders Equity + Net Income - Dividends + Issuance of Capital Stock Net Income correct answer: Revenues Earned -Expenses Incurred ...

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Mgt 8803 - Module 4 QUESTIONS WITH COMPLETE SOLUTIONS

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What is planning? correct answer: Identifying goals and strategies to get to those goals. What was the focus of classical management? correct answer: Productivity, making workers and organizations more efficient. What are Fayol's four functions of management? correct answer: 1. Planning (d...

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MGT 8803 Self Assessment 1 QUESTIONS WITH COMPLETE SOLUTIONS

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A balance sheet shows: a. Dividends distributed to stockholders b. Operating expenses for the period c. Earnings per share for the period d. Claims owners have against the assets of the firm e. Sales revenue correct answer: d. Claims owners have against the assets of the firm Which of the ...

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MGT 8803 - Summer 2022 Final Review – Marketing QUESTIONS WITH COMPLETE SOLUTIONS

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Marketing Strategy correct answer: Finding opportunities and developing profitable strategies to capitalize on those opportunities: Specifies a target market and related marketing mix. 5 Cs of Marketing correct answer: Customer: buyers with needs the company aims to fulfill Company: goods o...

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MGT 8803 - Marketing pt 1 QUESTIOS WITH COMPLETE SOLUTIONS

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Marketing correct answer: the creation and satisfaction of demand for a product or service Strategy correct answer: a set of ideas that outline how a product line or brand will achieve its objectives Tactic correct answer: a specific action or method that contributes to achieving a goal ...

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Financial Accounting Module 1| 200 QUESTIONS| WITH COMPLETE SOLUTIONS

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What two things does financial accounting consist of correct answer: measuring and reporting What forms of businesses do we measure and report for? correct answer: Proprietorship, partnership, corporation What are separates a proprietorship and a partnership from a corporation correct answer...

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MGT 8803 - Accounting - Module 1 QUESTIONS WITH COMPLETE SOLUTIONS

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What are the three forms of business? correct answer: Proprietorship, partnership, and corporations A proprietorship/partnership has limited liability? correct answer: False What are the accounting assumptions? correct answer: Separate entity, consistent unit of measurement (currency), goin...

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MGT 8803 Financial Management QUESTIONS WITH COMPLETE SOLUTIONS

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Shareholders correct answer: owners of a corporation; residual claimants Primary Financial Goal of Public Corporation correct answer: To create economic value for its shareholders Capital Budgeting/Expenditure/Investment Decision correct answer: process of determining exactly which assets t...

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MGT 8803 FLASHCARD| 110 QUESTIONS| WITH COMPLETE SOLUTIONS

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What are the (5) assumptions of financial accounting? correct answer: 1. Separate entity 2. Unit of measurement 3. Going concern 4. Periodicity 5. Materiality What does materiality mean? correct answer: The only information that needs to be disclosed in financial statements is information t...

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MGT 8803 - Match Account to Account Classification

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Cash correct answer: Current Asset Interest Expense correct answer: Expense Sales Returns correct answer: Contra-Revenue Wages Payable correct answer: Current Liability Taxes Payable correct answer: Current Liability Marketable Securities correct answer: Current Asset Mortgag...

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MGT 8803 OSCM| 95 QUESTIONS | WITH COMPLETE SOLUTIONS

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Long-term decisions correct answer: Strategic Medium-term decisions correct answer: Tactical Short-term decisions correct answer: Operational Capabilities that drive performance and increase profit correct answer: Products and services features Time to market Costs Quality Ability t...

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UARIZONA OMSA Audit EXAM 1 Review| 132 QUESTIONS| WITH COMPLETE SOLUTIONS

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Which of the following groups is commonly thought of as a stakeholder in the financial reporting process? a) Investors b) Banks c) Labor Unions d) Customers e) All of the above correct answer: e) All of the above What is an important way in which auditors help to enhance the credibility of ...

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