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Managerial Accounting Exam 1 Review and elaboration with correct answers respectively.
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Managerial Accounting Exam 1 Review and elaboration with correct answers respectively.
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Managerial Accounting Exam 1 Reviewand elaboration with correct answers
respectively.
Cash Inflows ANS - Activities which increase cash
Cash Outflows ANS - Activities which decrease cash
Operating Activities ANS - Is the result of everything you do in the Day to Day Operations, includes
current assets and liabilities
Investing Activities ANS - Is the buying and selling of long term assets and short term investments;
Equipment, building, and property; long term assets and liabilities
Financing Activities ANS - Is anything that affects the liability side of the balance sheet; How you get
capital; long term and short term borrowing, payment of dividends and the buying and selling of the
company stock
Ending Cash Balance - Beginning Cash Balance ANS - Change in Cash Flow= What formula?
Financial Accounting ANS - Concerned with reporting financial information to external parties, such as
stockholders, creditors, and regulators.
Managerial Accounting ANS - Concerned with providing information to managers for use within the
organization.
Budget ANS - A detailed plan for the future that is usually expressed in formal quantitative terms.
Performance report ANS - Compares budgeted data to actual data in an effort to identify and learn
from excellent performance and to identify and eliminate sources of unsatisfactory performance.
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