Acct 211 exam - Study guides, Class notes & Summaries
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ACCOUNTING 211 Liberty University -ACCT 211 Exam 1 well answered
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ACCT 211 Exam 1What 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/frequencies of reports - corr...
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ACCT 211 Exam 1 questions well answered
- Exam (elaborations) • 25 pages • 2024
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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...
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ACCOUNTING 211 Liberty University -ACCT 211 Exam 3 questions with answers
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ACCT 211 Exam 3(Ch. 7) Long-Term Assets 
Tangible Asset - correct answer Material: Land, buildings, equipment, etc. 
 
(Ch. 7) Long-Term Assets 
Intangible Asset - correct answer Non-material: Patents, trademarks, copyrights, etc. 
 
(Ch. 7) Long-Term Assets 
Tangible and intangible assets are recorded in the _____________________ - correct answer Balance sheet 
 
(Ch. 7) Long-Term Assets 
We record a __________________ at its cost PLUS all expenditures necessary - correct answer Long-term asset...
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ACCT 211 Exam 3 questions n answers graded A+
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ACCT 211 Exam 3 questions n answers graded A+(Ch. 7) Long-Term Assets 
Tangible Asset - correct answer Material: Land, buildings, equipment, etc. 
 
(Ch. 7) Long-Term Assets 
Intangible Asset - correct answer Non-material: Patents, trademarks, copyrights, etc. 
 
(Ch. 7) Long-Term Assets 
Tangible and intangible assets are recorded in the _____________________ - correct answer Balance sheet 
 
(Ch. 7) Long-Term Assets 
We record a __________________ at its cost PLUS all expenditures necessary - ...
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ACCT 211 Exam 1 Liberty university Question and answers 100% correct
- Exam (elaborations) • 25 pages • 2024
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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...
Too much month left at the end of the money?
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ACCT 211 Exam questions with complete solutions
- Exam (elaborations) • 11 pages • 2024
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ACCT 211 Exam questions with complete solutionsAsset, Liability, or Equity: 
 
Accounts Payable - correct answer Liability 
 
Asset, Liability, or Equity: 
 
Accounts Recievable - correct answer Asset 
 
Asset, Liability, or Equity: 
 
Equipment - correct answer Asset 
 
Asset, Liability, or Equity: 
 
Sales Revenue - correct answer Equity (+) 
 
Asset, Liability, or Equity: 
 
Service Revenue - correct answer Equity (+) 
 
Asset, Liability, or Equity: 
 
INventory - correct answer Asset 
 
Ass...
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ACCOUNTING 211 Liberty University -ACCT 211 Exam 1 well answered
- Exam (elaborations) • 9 pages • 2024
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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 Liberty university Questions with complete solution
- Exam (elaborations) • 15 pages • 2024
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ACCT 211 Exam Liberty university Questions with complete solution ACCT 211 Exam 3 
 
 
(Ch. 7) Long-Term Assets 
Tangible Asset - correct answer Material: Land, buildings, equipment, etc. 
 
(Ch. 7) Long-Term Assets 
Intangible Asset - correct answer Non-material: Patents, trademarks, copyrights, etc. 
 
(Ch. 7) Long-Term Assets 
Tangible and intangible assets are recorded in the _____________________ - correct answer Balance sheet 
 
(Ch. 7) Long-Term Assets 
We record a __________________ at i...
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ACCT 211 Exam 1 questions with correct answers graded A+
- Exam (elaborations) • 9 pages • 2024
- Available in package deal
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- $14.99
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ACCT 211 Exam 1 questions with correct answers graded A+ 
What 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 liabili...
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ACCOUNTING 211 Liberty University -ACCT 211 Exam well answered to pass
- Exam (elaborations) • 11 pages • 2024
- Available in package deal
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- $15.49
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ACCT 211 ExamAsset, Liability, or Equity: 
 
Accounts Payable - correct answer Liability 
 
Asset, Liability, or Equity: 
 
Accounts Recievable - correct answer Asset 
 
Asset, Liability, or Equity: 
 
Equipment - correct answer Asset 
 
Asset, Liability, or Equity: 
 
Sales Revenue - correct answer Equity (+) 
 
Asset, Liability, or Equity: 
 
Service Revenue - correct answer Equity (+) 
 
Asset, Liability, or Equity: 
 
INventory - correct answer Asset 
 
Asset, Liability, or Equity:
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