Mgt 8803 accounting - Study guides, Class notes & Summaries

MGT 8803 Week 1 Questions and Answers 100% Pass A business owned by a single owner proprietorship A business owned by more than one owner partnership In ___ & ___, the business and the owner(s) are legally one entity - there is unlimited liability and no taxation. proprietorship and partnership What does unlimited liability mean? The obligations of the business are the same as the obligations of the owners; i.e., a bank can go after the owners if the business defaults on its loan What does ...

MGT 8803 FINAL EXAM ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED A+ What are the (5) assumptions of financial accounting? - ANSWER- 1. Separate entity 2. Unit of measurement 3. Going concern 4. Periodicity 5. Materiality What does materiality mean? - ANSWER- The only information that needs to be disclosed in financial statements is information that will be useful for those who rely on the financial statements to make deci...

Which one of the following is reported on the Balance Sheet at current market value? a) Accounts Receivable b) Buildings c) Treasury Stock d) Land e) Marketable Securities - e) Marketable Securities The form of business organization that is legally separate from its owners is a: - Corporation A clean financial statement audit opinion will state that the financial statements are guaranteed to be accurate... TRUE OR FALSE? - FALSE According to the matching principle...? a) expenses shoul...

MGT 8803 – Finance Latest 2023 Already Graded A Time Value of Money (TVM) The concept that money you have now is worth more than the identical sum in the future due to its potential earning capacity Payback Period The number of periods (usually measured in years) required for the sum of the project's expected cash flows to equal its initial cash outlay. Time it takes for a firm to recover its initial investment. Profitability Index (PI) The present value of future cash flows divided by the...

Which one of the following is reported on the Balance Sheet at current market value? a) Accounts Receivable b) Buildings c) Treasury Stock d) Land e) Marketable Securities - e) Marketable Securities The form of business organization that is legally separate from its owners is a: - Corporation A clean financial statement audit opinion will state that the financial statements are guaranteed to be accurate... TRUE OR FALSE? - FALSE According to the matching principle...? a) expenses shoul...

MGT 8803 FINAL EXAM ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED A+ What are the (5) assumptions of financial accounting? - ANSWER- 1. Separate entity 2. Unit of measurement 3. Going concern 4. Periodicity 5. Materiality What does materiality mean? - ANSWER- The only information that needs to be disclosed in financial statements is information that will be useful for those who rely on the financial statements to make deci...

MGT 8803 Financial Management Latest 2023 Rated A Shareholders owners of a corporation; residual claimants Primary Financial Goal of Public Corporation To create economic value for its shareholders Capital Budgeting/Expenditure/Investment Decision process of determining exactly which assets to invest in and how much to invest Future Value = PV x (1+r)^t Present Value amount of money you would need to invest today in order to duplicate some future dollar amount = FV / (1+r)^t Net Present Val...

MGT 8803 FINAL EXAM ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED A+ What are the (5) assumptions of financial accounting? - ANSWER- 1. Separate entity 2. Unit of measurement 3. Going concern 4. Periodicity 5. Materiality What does materiality mean? - ANSWER- The only information that needs to be disclosed in financial statements is information that will be useful for those who rely on the financial statements to make decisions....