Going concern uncertainty - Samenvattingen, Aantekeningen en Examens

WGU C213 Topics 1-6 Quizzes 2024(51% of Exam Competencies) with 100% Complete Solutions The emphasis in financial accounting is on which of the following external user groups? - Answer- Investors and creditors The primary internal group that uses accounting information is? - Answer- Management Internal reports are generally used by? - Answer- Management Which of the following is NOT an external user of financial information? - Answer- Management Which of the following is NOT true of the...

What is equation for net income? - Revenues-expenses+gains-losses What is realization ? - Revenue can only be recognized once the underlying goods or services associated with the revenue have been earned. What is conservatism? - recognize expenses and liabilities as soon as possible when there is uncertainty about outcome, but only recognize revenues and assets when they are assured of being received(want the approach that will least likely overstate assets) What is the going concern as...

ACHE FINANCE FROM IN-PERSON REVIEW COURSE TEST QUESTIONS WITH ALL CORRECT DETAILED ANSWERS GRADED A+ The accounting concept that relates to uncertainty dictating understating volumes and revenues and overstating expense is A). Conservatism B). Materiality C). Full disclosure D). Going concern - Answer-A). Conservatism An accounting method that recognizes revenue when they are earned and recognizes expenses when they are incurred is called A). Cash accounting B). Accrua...

WGU ACCOUNTING C213 (CHAPTER 2 QUIZ - Part1)A borrower benefits from providing financial information regarding income and expenses in the form of a lower interest rate on the loan because of reduced uncertainty for the lender with regard to repayment. True/False - correct answer True Which of the following is NOT one of the three primary financial statements? The Statement of Retained Earnings The Balance Sheet The Statement of Cash Flows The Income Statement - correct answer The...

NSG221 EXAM 3 QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS LATEST UPDATE 2024/2025 When assessing the insight and self-concept of a client with obsessive-compulsive disorder (OCD), what does the nurse note? - The client has a fear of "going crazy." Rationale: Clients with OCD express concern that they may be "going crazy." Feelings of powerlessness to control the obsessions or compulusions contribute to their low self-esteem. These clients also feel that they could control the thoughts...

5 basic assertions of accounting - Answer--complete, valuation, existence, ownership, classification, described and disclosed Required accounting criteria from a set of rules or requirements: - Answer--understandability, relevance, reliability, comparability/consistency, lack of bias, and cost-benefit effectiveness Understandability Criteria - Answer--Must be transparent, intelligible, and clearly disclosed Relevance Criteria - Answer--Must be timely, have predictive value, provide useful f...

Contingent Liability - ----Uncertainty which exists for a company that will be resolved by the occurrence of future events. (An existing condition, situation, or set of circumstances, involving an uncertainty as to possible loss to an entity that will ultimately be resolved when some future event occurs or fails to occur.) Subsequent Event - ----An event or transaction which occurs after the balance sheet date but prior to the issuance of the financial statements and the auditor's...

Accounting Principles and Formulas Questions With Verified Answers | UPDATED Basic Accounting Equation - ANSWER Assets = Liabilities + Owner's Equity Business Entity - ANSWER The financial statements report about a single business. Every business gets its own set of books. Accountants do not mix in the owner's personal financial information. Current - ANSWER "Current" liabilities are those debts that must be paid within one year or one operating cycle, whichever is longer....

WGU C213 Topics 1-6 Quizzes 2024(51% of Exam Competencies) with 100% Complete Solutions The emphasis in financial accounting is on which of the following external user groups? - Answer- Investors and creditors The primary internal group that uses accounting information is? - Answer- Management Internal reports are generally used by? - Answer- Management Which of the following is NOT an external user of financial information? - Answer- Management Which of the following is NOT true of the...

OV - 6 aspects of project performance to be manage 1.Costs 2.TimeScale 3.Quality 4.Scope 5.Risk 6.Benefits OV - 5 characteristics of a project 1.Change 2.Temporary 3.Cross functional 4.Unique 5.Uncertainty OV - 4 integrated elements on which Prince2 is based iples s sses project environment OV - 7 Benefits of using Prince2 be applied to any projects 2. common vocabulary & approach rates easily with industry specific model e management by exception to make efficient use of...