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Mie 201 test 5 (chapters 14,15,16) Questions With Solutions 100% Solved
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Mie 201 test 5 (chapters 14,15,16) Questions With Solutions 100% Solved Accounting the recording, measurement, and interpretation of financial information Certified Public Accountant (CPA) An individual who has met certain criteria and is thus allowed to perform audits of corporations. privat...

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  • October 7, 2024
  • 25
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • mie 201 test 5 chapters 141516
  • questions with solutions 100 solved

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  • Mie 201
  • Mie 201

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Mie 201 test 5 (chapters 14,15,16) Questions
With Solutions 100% Solved

Accounting the recording, measurement, and interpretation of financial information




Certified Public Accountant (CPA) An individual who has met certain criteria and is thus

allowed to perform audits of corporations.




private accountant Large corporations, gov agencies and other organizations employ these

people to prepare and analyze their financial statements




Certified Management Accountant (CMA) private accountants who, after rigorous

examination, are certified by the Institute of Management Accountants




bookkeeper someone who records the transactions of a business (limited to your one and

day to day activities)




Managerial Accounting the internal use of accounting statements by managers in planning

and directing the organization's activities

, Mie 201 test 5 (chapters 14,15,16) Questions
With Solutions 100% Solved
*concerned with cashflow, budget




cashflow The movement of money throughout an organization over a daily, weekly,

monthly or yearly basis




Budget Internal Fiji coal plan that forecasts expenses and income over a set period of time




annual report summary of a firm's financial information, products, and growth plans for

owners and potential investors




assets a firm's economic resources, or items of value that it owns




*cash, inventory, land, equipment, buildings, and other tangible and intangible things




*display cases, flowers, vases, decorations




Liabilities Debts the firms owes to others

, Mie 201 test 5 (chapters 14,15,16) Questions
With Solutions 100% Solved
*loans from the SBA, money owe to flower suppliers




Owner's Equity all of the money that has ever been contributed to the company that never

has to be paid back




Funds come from investors who have given money or assets to company or from past profitable

operations




Accounting Equation The relationship among assets, liabilities, and owner's equity




Accounting Equation Assets = Liabilities + Owner's Equity




double-entry bookkeeping a system of recording and classifying business transactions that

maintains the balance of the accounting equation




Accounting cycle Funicular data typically passes through a four step procedure




Accounting cycle steps 1. Examining source documents

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