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Financial Accounting Chapter 1 questions correctly answered. $8.99   Add to cart
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Financial Accounting Chapter 1 questions correctly answered.
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  • Accounting 101
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  • Accounting 101

Financial Accounting Chapter 1 questions correctly answered.

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  • August 29, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • financial accounting chapter 1 questions correctly

Written for

  • Accounting 101
  • Accounting 101

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Financial Accounting Chapter 1
questions correctly answered.
Stockholders ANS - investors



Creditor ANS - lenders (banks)

- make money on loans by charging interest



Dividends ANS - cash payments that stockholders hope to receive; a portion of what the company
earned



Internal Decision Makers ANS - managers

- need info about the company's business activities to manage the operating, investing, and financing
activities of the firm



External Decision Makers ANS - stockholders and creditors

- need info about these same business activities to assess whether the company will be able to pay back
its debts with interest and pay dividends



Accounting System ANS - collects and processes (analyzes, measures, and records) financial info about
an organization and reports that info to decision makers



Business Activities ANS - 1) Financing Activities = borrowing or paying back money to lenders and
receiving additional funds from stockholders or paying them dividends

2) Investing Activities = buying or selling items such as plant and equipment used in the production of
beverages

3) Operating Activities = the day-to-day process of purchasing raw tea and other ingredients from
suppliers, manufacturing beverages, delivering them to customers, collecting cash from customers, and
paying suppliers



Financial Accounting ANS - - for external decision makers

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