FINANCIAL ACCOUNTING QUESTIONS
AND ANSWERS 100 PERCENT CORRECT
COUNTS 20 PERCENT OF COURSE GRADE
MGT 8803 BUSINESS FUNDAMENTALS FOR
ANALYTICS UPDATED
⩥financing activities. Answer: borrowing or paying back money to
lenders and receiving additional funds from stockholders or paying them
dividends
⩥Investing Activities. Answer: buying or selling items such as plant and
equipment used in the production of beverages
⩥Operating Activities. Answer: the day-to-day process of purchasing
raw materials and other ingredients from suppliers, manufacturing
beverages, delivering them to customers, collecting cash from
customers, and paying suppliers
⩥management accounting. Answer: developing accounting information
for internal decision makers
⩥supply chain managers. Answer: analyze suppliers' financial
statements to see whether the suppliers have the resources to meet
demand and invest in future development
, ⩥Financial Accounting. Answer: The field of accounting that focuses on
providing information for external decision makers
⩥human resource managers. Answer: use financial statements as a basis
for contract negotiations over pay rates
⩥balance sheet. Answer: reports in dollar amounts the financial position
(amount of assets, liabilities, and stockholders' equity) of an accounting
entity at a particular point in time
⩥heading of a balance sheet contains. Answer: 1. name of the entity
2. title of the statement (Balance Sheet)
3. specific date of the statement
4. unit of measure
⩥Basic Accounting Equation. Answer: Assets = Liabilities +
Stockholders' Equity
⩥accounting entity. Answer: the organization for which financial data
are collected
⩥financial position. Answer: the economic resources that the company
owns and the sources of financing for those resources
AND ANSWERS 100 PERCENT CORRECT
COUNTS 20 PERCENT OF COURSE GRADE
MGT 8803 BUSINESS FUNDAMENTALS FOR
ANALYTICS UPDATED
⩥financing activities. Answer: borrowing or paying back money to
lenders and receiving additional funds from stockholders or paying them
dividends
⩥Investing Activities. Answer: buying or selling items such as plant and
equipment used in the production of beverages
⩥Operating Activities. Answer: the day-to-day process of purchasing
raw materials and other ingredients from suppliers, manufacturing
beverages, delivering them to customers, collecting cash from
customers, and paying suppliers
⩥management accounting. Answer: developing accounting information
for internal decision makers
⩥supply chain managers. Answer: analyze suppliers' financial
statements to see whether the suppliers have the resources to meet
demand and invest in future development
, ⩥Financial Accounting. Answer: The field of accounting that focuses on
providing information for external decision makers
⩥human resource managers. Answer: use financial statements as a basis
for contract negotiations over pay rates
⩥balance sheet. Answer: reports in dollar amounts the financial position
(amount of assets, liabilities, and stockholders' equity) of an accounting
entity at a particular point in time
⩥heading of a balance sheet contains. Answer: 1. name of the entity
2. title of the statement (Balance Sheet)
3. specific date of the statement
4. unit of measure
⩥Basic Accounting Equation. Answer: Assets = Liabilities +
Stockholders' Equity
⩥accounting entity. Answer: the organization for which financial data
are collected
⩥financial position. Answer: the economic resources that the company
owns and the sources of financing for those resources
