Western Governors University

What is the effect of a company's accounting department maintaining high ethical standards? -The company can report more favorable results in its financial statements. -The company's accounting information will decrease in value. -The company can hire fewer accountants to do the same amount of work. -The company's accounting information will increase in value. -Correct Answer The company's accounting information will increase in value. Why might employees be interested in thei...

What is the effect of a company's accounting department maintaining high ethical standards? A)The company can hire fewer accountants to do the same amount of work B)The company can report more favorable results in its financial statements. C)The company's accounting information will increase in value. D) The company's accounting information will decrease in value. -Correct Answer C) The company's accounting information will increase in value. Why might employees be intereste...

Accounting plays a vital role in the decision-making process. Which action is the first step in the decision-making process. Identify the issues The money that a company needs to buy its land, pay its employees, and buy its supplies is called capital. What are the potential sources of capital for a business. Investors, creditors, and retained business earnings. Accountants measure and communicate the results of business activities. True Which primary area of accounting generates reports fo...

Manufacturing Overhead Budget -Correct Answer Which budget should include all production costs other than those for direct materials and direct labor? Accounts receivable -Correct Answer Which account is a common asset account? Balance Sheet -Correct Answer On which financial statement would you see the valuation of a company's asset account? Preparing Reports -Correct Answer What is the final step in the accounting cycle? Preparing financial statements -Correct Answer Which of th...

the production budget -Correct Answer Sales budget + ending finished goods inventory - beginning finished goods inventory direct materials production budget -Correct Answer Production budget × direct materials per unit the direct materials purchases budget -Correct Answer Direct materials production budget + ending direct materials inventory - beginning direct materials inventory Cash collected from customers -Correct Answer (current period revenue × current period collection rate) + ...

What is the effect of a company's accounting department maintaining high ethical standards? The company can hire fewer accountants to do the same amount of work. The company's accounting information will decrease in value. The company can report more favorable results in its financial statements. The company's accounting information will increase in value. -Correct Answer The company's accounting information will increase in value. Why might employees be interested in their co...

bookkeeping -Correct Answer day to day keeping of transcations steps of decision making -Correct Answer identify issue gather information identify alternatives select option that most likely results in desired objective accounting -Correct Answer analysis of events record and report financial effects of business activities where does capital come from (3) -Correct Answer investors creditors(lenders) business itself (from earnings retained) 2 main types of accounting -Correct An...

What is an example of direct materials? Cost of robotic equipment in making automobiles Cost of sandpaper in making wood furniture Cost of saws and hammers in constructing a house Cost of aluminum in making an airplane -Correct Answer Cost of aluminum in making an airplane What is the effect of a company's accounting department maintaining high ethical standards? The company can hire fewer accountants to do the same amount of work. The company can report more favorable results in its...

What is the correct sequence of budgets in a manufacturing business? -Correct Answer Sales, production, direct materials What is the effect of a company's accounting department maintaining high ethical standards? -Correct Answer The company's accounting information will increase in value. Why might employees be interested in their company's financial accounting information? -Correct Answer Financial statement data are often used in determining employee bonuses. Which group esta...

Accounting plays a vital role in the decision-making process. Which action is the first step in the decision-making process? -Correct Answer Identify the issue. 1 / 1 The money that a company needs to buy its land, pay its employees, and buy its supplies is called capital. What are the potential sources of capital for a business? -Correct Answer Investors, creditors, and retained business earnings Investors, creditors, and retained business earnings are all common sources of capital for a b...