ACCT_2000_EXAM_3_LOWE_ARDOIN_2024_2025_NEWEST_UPDATE_WITH_COMPLETE SOLUTIONS

ACCT 2000 EXAM 3 LOWE-ARDOIN 2024- 2025 NEWEST
UPDATE WITH COMPLETE QUESTIONS AND
ANSWERS/ALREADY GRADED A+


Financial accounting is an ______ primary user - ANSWER
->external

managerial accounting is a _____ primary user - ANSWER
->internal

report used in financial accounting - ANSWER ->financial
statement

report used in managerial accounting - ANSWER -
>internal reports

frequency of reports in financial accounting - ANSWER -
>monthly, quarterly or annual

frequency of reports in managerial accounting - ANSWER
->as needed

purpose of reports in financial accounting - ANSWER -
>general

, purpose of reports in managerial accounting - ANSWER -
>specific

content of reports in financial accounting - ANSWER -
>highly aggregated

content of reports in managerial accounting - ANSWER -
>very detailed

portion of business covered in financial accounting -
ANSWER ->whole business

portion of business covered in managerial accounting -
ANSWER ->subunit

verification process in financial accounting - ANSWER -
>audited

verification process in managerial accounting - ANSWER -
>not audited

are you required to follow GAAP in financial accounting -
ANSWER ->yes

are you required to follow GAAP in managerial
accounting - ANSWER ->no