C213 Accounting For Decision Makers PreAssessment Test
Questions & Answers
What zdoes zaccounting zfocus zon? z- zANS-The zimpact za zbusiness's zactivities zhave
zon zit's zoverall zfinancial zperformance
Which zreport zsummarizes zcash zcollections zand zcash zexpenditures zfrom zoperating,
zinvesting, zand zfinancing zactivities zover za zperiod zof ztime? z- zANS-Statement zof
zcash zflows
Which zusers zwould zhave za zprimary zconcern zwith zan zorganization's zability zto
zprovide zhealthcare zbenefits? z- zANS-Employees
Which zbenefit zdoes za zcorporation zgain zby zfollowing zGenerally zAccepted zAccounting
zPrincipals z(GAAP)? z- zANS-An zincrease zin zits zcomparability zto zother zcompanies
Which zbody zregulates za zcertified zpublic zaccounting zfirm's zaudit zpractices zwhen zthe
zfirm zis zauditing za zlarge zpublicly ztraded zcompany? z- zANS-The zFASB
What zhas zhad zthe zmost zsignificant zimpact zon zaccounting zpractices? z- zANS-
Information zTechnology
, What ztwo zitems zof zinformation zare zrevealed zon zthe zbalance zsheet? z- zANS-Debt,
zOwnership
Which zterm zis zdefined zas zthe zresidual zinterest zin zthe znet zassets zof za zcompany? z-
zANS-Owner's zequity
A zcorporation zhas ztotal zliabilities zof z$300 zmillion, ztotal zowner's zequity zof z$100
zmillion, zand zcurrent zassets zof z$50 zmillion. zWhat zis zthe zvalue zof zthe zfirm's zlong-
term zassets? z- zANS-$350 zmillion
Which zsituation zshould zresult zin zrevenue zrecognition zon zthe zincome zstatement zfor
zthe zyear zending z12/31/14 zif zthe zfirm zis zusing zaccrual-basis zaccounting? z- zANS-In
z2014, za zcompany zprovides zservices zto za zcustomer zfor zwhich zcash zwill zbe
zcollected zthe znext zyear z(2015)
Which zcategory zon zthe zstatement zof zcash zflows zsummarizes zcash zreceipts zand
zpayments zto zowners zand zcreditors zof zthe zcompany? z- zANS-Cash zflows zfrom
zfinancing zactivities
Where zwould zan zinvestor zfind za zsummary zof za zcompany's zsignificant zaccounting
zpolicies? z- zANS-In zthe znotes zto zthe zfinancial zstatements
Questions & Answers
What zdoes zaccounting zfocus zon? z- zANS-The zimpact za zbusiness's zactivities zhave
zon zit's zoverall zfinancial zperformance
Which zreport zsummarizes zcash zcollections zand zcash zexpenditures zfrom zoperating,
zinvesting, zand zfinancing zactivities zover za zperiod zof ztime? z- zANS-Statement zof
zcash zflows
Which zusers zwould zhave za zprimary zconcern zwith zan zorganization's zability zto
zprovide zhealthcare zbenefits? z- zANS-Employees
Which zbenefit zdoes za zcorporation zgain zby zfollowing zGenerally zAccepted zAccounting
zPrincipals z(GAAP)? z- zANS-An zincrease zin zits zcomparability zto zother zcompanies
Which zbody zregulates za zcertified zpublic zaccounting zfirm's zaudit zpractices zwhen zthe
zfirm zis zauditing za zlarge zpublicly ztraded zcompany? z- zANS-The zFASB
What zhas zhad zthe zmost zsignificant zimpact zon zaccounting zpractices? z- zANS-
Information zTechnology
, What ztwo zitems zof zinformation zare zrevealed zon zthe zbalance zsheet? z- zANS-Debt,
zOwnership
Which zterm zis zdefined zas zthe zresidual zinterest zin zthe znet zassets zof za zcompany? z-
zANS-Owner's zequity
A zcorporation zhas ztotal zliabilities zof z$300 zmillion, ztotal zowner's zequity zof z$100
zmillion, zand zcurrent zassets zof z$50 zmillion. zWhat zis zthe zvalue zof zthe zfirm's zlong-
term zassets? z- zANS-$350 zmillion
Which zsituation zshould zresult zin zrevenue zrecognition zon zthe zincome zstatement zfor
zthe zyear zending z12/31/14 zif zthe zfirm zis zusing zaccrual-basis zaccounting? z- zANS-In
z2014, za zcompany zprovides zservices zto za zcustomer zfor zwhich zcash zwill zbe
zcollected zthe znext zyear z(2015)
Which zcategory zon zthe zstatement zof zcash zflows zsummarizes zcash zreceipts zand
zpayments zto zowners zand zcreditors zof zthe zcompany? z- zANS-Cash zflows zfrom
zfinancing zactivities
Where zwould zan zinvestor zfind za zsummary zof za zcompany's zsignificant zaccounting
zpolicies? z- zANS-In zthe znotes zto zthe zfinancial zstatements
