100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
ACCT 2020 Principles of Accounting Midterms (Qns & Ans) 2025 - WGU $16.49
Add to cart
Quickly navigate to
Preview
  2.  
  3. Managerial Accounting
  4.  
  5. Managerial Accounting

Exam (elaborations)

ACCT 2020 Principles of Accounting Midterms (Qns & Ans) 2025 - WGU
 0 purchase
  • Course
  • Managerial Accounting
  • Institution
  • Managerial Accounting

ACCT 2020 Principles of Accounting Midterms (Qns & Ans) 2025 - WGUACCT 2020 Principles of Accounting Midterms (Qns & Ans) 2025 - WGU

Preview 3 out of 28  pages

Document information

  • December 25, 2024
  • 28
  • 2024/2025
  • Exam (elaborations)
  • Unknown

Subjects

  • acct 2020 principles of accounting midterms qns

Written for

  • Managerial Accounting
  • Managerial Accounting

Seller

avatar-seller
emiliophd

Reviews received

Content preview

ACCT 2020

Principles of Financial & Managerial
Accounting

Midterms (Qns & Ans)

2025
General Instructions

1. Read All Questions Carefully: Make sure you understand each question.
2. Time Management: You have a specific amount of time to complete the exam.
Keep an eye on the clock and pace yourself.
3. Allowed Materials: Only use materials that are explicitly allowed. Unauthorized
materials can lead to disqualification.
4. ANS Format: Follow the required format for your ANS. For example, multiple-
choice questions might need you to select the best ANS, while essay questions
require detailed responses.
5. Academic Integrity: Adhere to the university's honor code. Any form of cheating or
plagiarism is strictly prohibited.
6. Technical Requirements: Ensure your computer and internet connection are
stable. For online exams, you might need a webcam and microphone for proctoring
purposes.
7. Submission: Submit your ANS before the time expires. Late submissions might
not be accepted.
©2024/2025

,1. Which of the following best describes the primary purpose of
financial accounting?
- A. Conducting market research
- B. Providing financial information to external stakeholders for
decision-making
- C. Developing new software applications
- D. Managing daily business operations
- ANS: B
- Rationale: The primary purpose of financial accounting is to
provide financial information to external stakeholders, such as
investors, creditors, and regulators, to aid in decision-making.


2. What is the primary function of managerial accounting?
- A. To manage daily business operations
- B. To provide financial information to internal stakeholders
for decision-making
- C. To conduct market research
- D. To develop new software applications
- ANS: B
- Rationale: Managerial accounting provides financial
information to internal stakeholders, such as managers and

©2024/2025

, executives, to aid in decision-making and improve business
operations.


Fill-in-the-Blank Questions
3. The __________ principle requires that expenses be matched
with revenues in the period in which they are incurred.
- ANS: matching
- Rationale: The matching principle requires that expenses be
matched with revenues in the period in which they are incurred,
ensuring accurate financial reporting.


4. In managerial accounting, __________ refers to the process of
allocating indirect costs to different cost objects.
- ANS: cost allocation
- Rationale: Cost allocation refers to the process of assigning
indirect costs, such as overhead, to different cost objects, such as
products or departments.


True/False Questions
5. The primary focus of financial accounting is to provide
information for internal decision-making.
- ANS: False



©2024/2025

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller emiliophd. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $16.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

71250 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling

Recently viewed by you

Summary ·

(0)

Hoofdstuk 2 en 3 Jellema 13, Asset-en onderhoudsmanagement

Essay ·

(0)

Grand Canyon University - NRS 410V-0500 case study Mrs.J (answered)

Exam (elaborations) ·

(0)

NR 304 Health Assessment II Head to Toe Assessment Final Script

Exam (elaborations) ·

(0)

PSYC 140 Final Exam - Requires Respondus Lock Down Browser + Webcam

Summary ·

(0)

Samenvatting Hoofdstuk 16 de organisatie Basisboek Events
$16.49
  • (0)
Add to cart
Added