Accounting acct exam Study guides, Class notes & Summaries

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ACCT 211 Exam 1 questions well answered What is managerial accounting? - correct answer Provides information and analysis to managers inside the organization to assist them in decision making. Financial Accounting vs Managerial Accounting: Primary Users of Reports - correct answer Financial Accounting is external users, stockholders, creditors, and regulators. Managerial Accounting is internal users such as managers and officers. Financial Accounting vs Managerial Accounting: types/freq...

ACCT 2001 Introductory Financial Accounting Exam 2 (Belinda Henderson) questions and answers

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ACCT 211 Exam 1 Liberty university Question and answers 100% correct ACCT 211 Exam 1 What is managerial accounting? - correct answer Provides information and analysis to managers inside the organization to assist them in decision making. Financial Accounting vs Managerial Accounting: Primary Users of Reports - correct answer Financial Accounting is external users, stockholders, creditors, and regulators. Managerial Accounting is internal users such as managers and officers. Financ...

ACCT 211 Exam 1What is the primary purpose of financial accounting? - correct answer To measure business activities of a company and then communicate them to external parties for decision making purposes. Distinguish between managerial and financial accounting. - correct answer +Managerial-Accounting information that is provided for internal users (Managers). +Financial-Accounting information that is provided for external users. Limited liability. - correct answer Prevents stockholders ...

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ACCT 211 - Exam 1 Accounting - correct answer Information and measurement system that identifies, records, and communicates relevant information about a company's business activities. Accounting Equation - correct answer Equality involving a company's assets, liabilities, and equity; Assets = Liabilities + Equity; also called balance sheet equation Assets - correct answer Resources a business owns or controls that are expected to provide current and future benefits to the business. A...

ACCT 526 – Midterm Exam Study Guide with Complete Solutions The objective of profit maximization should be constrained by the requirement that profits be achieved through a. ethical means only b. legal means only c. both legal and ethical means d. any means possible e. None of these. - Correct Answer c. both legal and ethical means Which of the following is a characteristic of managerial accounting? a. There is an internal focus. b. It measures non-financial information that is usef...

ACCT 211 - Exam 1__________ is called the language of business - correct answer Accounting External users - correct answer Lender, Shareholders, Governments, Consumer Groups, External Auditors, Customers Internal users: - correct answer officers, managers, internal auditors, sales staff, budget officers, controllers GAAP - correct answer Generally Accepted Accounting Principles GAAP aims to make information - correct answer relevant, reliable, comparable Relevant information _____...