Mgt 8803 exam 1 - Study guides, Class notes & Summaries
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MGT 8803 FINAL EXAM ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED A+
- Exam (elaborations) • 9 pages • 2024
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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....
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MGT 8803 Final Exam With Complete Solution
- Exam (elaborations) • 39 pages • 2023
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3 factors that effect planning of organization - 1) organization level (more heirarchy better with more stability) 
2) degree of uncertainty (more uncertain, shorter planning horizon) 
3) length of future commitments (planning horizon should be as long as length of longest commitment by management 
 
4 functions of management - 1) planning: business goals 
2) organizing: allocating resources 
3) leading: coordinating and directing 
4) controlling: observe and analyze metrics to ensure completion...
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MGT 8803 Accounts (Exam 1) Questions & Answers Already Solved
- Exam (elaborations) • 4 pages • 2023
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cash - Answer Current Asset (BS) 
 
Deferred Revenue - Answer Current Liability (BS) 
 
Treasury Stock - Answer Contra-Equity (BS) 
 
Cost of Goods Sold - Answer Expense (IS) 
 
Interest Expense - Answer Expense (IS) 
 
Sales - Answer Revenue (IS) 
 
Sales Discounts - Answer Contra-Revenue (IS) 
 
Sales Returns - Answer Contra-Revenue (IS)
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