ACING MBA 510 MID TERM EXAM WITH THE LATEST A+
QUESTIONS AND ANSWERS STUDY COMPANION.
Identifies, records, and communicates information about an organizations
business activities
Accounting
Selecting transactions and events
Identifying
Inputting, measuring, and logging
Recording
Preparing, analyzing, and interpreting
Communication
Preparing and entering list of sales invoices, like price and quantities for a
company record keeper is an example of what?
Identifying
Applying information for a financial report is an example of what?
Recording
Preparing financial statements for creditors is an example of what?
Communication
A punch time card is an example of what?
Identifying
Preparing and entering checks is an example of what?
Recording
Using a cash register is an example of what?
Communication
Recording of transactions and events only, either manually or electronically
Record keeping
This type of user is not directly involved in running the organization
External user
, Lenders, shareholders, governments, consumer groups, external auditors,
customers, supplies, bankers, labor union, and the press are all examples of what
type of user?
External user
This type of user has limited access, therefore, business decisions depend on
info that is reliable, relevant, and comparable
External user
Financial accounting is used with what type of user?
External user
This type of user is directly involved in managing and operating an organization
Internal user
Officers, managers, internal auditors, sales staff, budget officers, and controllers
are examples of what type of user?
Internal user
This type of user uses info to help improve efficiency and effectiveness of the
company
Internal user
Managerial accounting serves decision-making needs of what type of user?
Internal user
Are the reports of financial accounting and managerial accounting made with the
same rules?
No
This type of accounting is done working for a business
Private accounting
This type of accounting is done through services like auditing and tax advice to
businesses
Private accounting
This is an internal control system that includes procedures to ensure protection,
reliability, efficiency, and adherence within accounting
SOX
QUESTIONS AND ANSWERS STUDY COMPANION.
Identifies, records, and communicates information about an organizations
business activities
Accounting
Selecting transactions and events
Identifying
Inputting, measuring, and logging
Recording
Preparing, analyzing, and interpreting
Communication
Preparing and entering list of sales invoices, like price and quantities for a
company record keeper is an example of what?
Identifying
Applying information for a financial report is an example of what?
Recording
Preparing financial statements for creditors is an example of what?
Communication
A punch time card is an example of what?
Identifying
Preparing and entering checks is an example of what?
Recording
Using a cash register is an example of what?
Communication
Recording of transactions and events only, either manually or electronically
Record keeping
This type of user is not directly involved in running the organization
External user
, Lenders, shareholders, governments, consumer groups, external auditors,
customers, supplies, bankers, labor union, and the press are all examples of what
type of user?
External user
This type of user has limited access, therefore, business decisions depend on
info that is reliable, relevant, and comparable
External user
Financial accounting is used with what type of user?
External user
This type of user is directly involved in managing and operating an organization
Internal user
Officers, managers, internal auditors, sales staff, budget officers, and controllers
are examples of what type of user?
Internal user
This type of user uses info to help improve efficiency and effectiveness of the
company
Internal user
Managerial accounting serves decision-making needs of what type of user?
Internal user
Are the reports of financial accounting and managerial accounting made with the
same rules?
No
This type of accounting is done working for a business
Private accounting
This type of accounting is done through services like auditing and tax advice to
businesses
Private accounting
This is an internal control system that includes procedures to ensure protection,
reliability, efficiency, and adherence within accounting
SOX
