Homework Answers
Question 17
Correct answer----Providing information to internal users
Financial accounting is for providing information to external users. Internal users use management accounting istead of financial accounting.
Question 18
Correct answer----To determine market values, assess profit potential, and evaluate management.
Financial accounting helps investors and creditors in predicting future cash flows and making various decisions.
Question 19
Correct answer----Provides information primarily for external decision makers.
As already stated financial accounting is not for internal users but only for external users.
Add Answer to:
QUESTION 17 Financial accounting does not deal with which of the following? Measuring a company's economic...
Financial accounting does NOT deal with which of the following? Financial accounting does NOT deal with which of the...
Financial accounting does NOT deal with which of the
following?
Financial accounting does NOT deal with which of the following? Select one a Communicating financial results to investors b. Measuring a company's economic activity. c. Allocating cost to different products. O d. Preparing financial statement
Which of the following is the primary focus of financial accounting?
Which of the following is the primary focus of financial accounting?A) providing summarized information on operational results to investors and creditorsB) providing highly detailed information on product lines, regions, and divisionsC) providing information to managers to assist in planning, directing and controlling operationsD) providing information that managers need to make operational decisionsWhich of the following statements is true of managerial accounting?A) Managerial accounting information must comply with Generally Accepted Accounting Principles.B) The external stakeholders of a company are the primary...
only the final answers plz 1. Which definition below best describes financial accounting? A. Process of...
only the final answers plz
1. Which definition below best describes financial accounting? A. Process of measuring income taxes owed to the government. B. System of maintaining communication with a company's customers and suppliers. C. Procedures designed to enhance the company's image to potential investors. D. Measuring business activities and communicating them to external parties. 2. Liabilities can be best described as: A. The amount of expenses over the past year. B. The amount expected to be distributed to stockholders....
For the following statements, determine which word or phrase from the list below will best complete...
For the following statements, determine which word or phrase from the list below will best complete it. Note: Some words or phrases could be used more than once, and some might not be used.must give information about the changes in economic resources and claims on the economic resources.should not be used when liquidation is likely. ensures that the benefits of providing more information are greater than the cost of providing it.when applied, financial statement users will find it useful to...
Write C (Cost/Managerial), F (Financial), or T (Tax) next to each of the following statements. The...
Write C (Cost/Managerial), F (Financial), or T (Tax) next to each of the following statements. The purpose of this information is to calculate taxable income. This information must follow Generally Accepted Accounting Principles. Types of information generated from this type of accounting are financial statements that were subject to audit. This information is not subject to rules and regulations on report type, format, etc. Types of information generated by this type of accounting are budgets, cost analysis, and department reports....
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1)...
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Objectives of financial reporting to external investors and creditors include preparing information about all of the following except: (A) Information used to determine which products to produce. B) Information about economic resources, claims to those resources, and changes in both resources and claims. C) Information that is useful in making investment and credit decisions. D) Information that is useful in assessing the amount, timing,...
QUESTION 17 The financial information included within the financial statements reflects only the financial performance of...
QUESTION 17 The financial information included within the financial statements reflects only the financial performance of the entity as determined by applying the guidance and rules incorporated within the Conceptual Framework and within applicable accounting standards: they do not provide a means of assessing the performance of the entity. legal O technological O social or environmental O political QUESTION 18 Which among the following is not a current value measurement? Fair value Value in use for assets) or fulfilment value...
Which of the following characteristics does NOT apply to Financial Accounting? Used by investors when making...
Which of the following characteristics does NOT apply to Financial Accounting? Used by investors when making stock purchase decisions a. Information reviewed by external auditors Ob. Regularly uses predictiions Used by creditors when making loan approval decisions Od.
Indicate whether the following statements describe financial accounting or managerial accounting.
Take me to the textIndicate whether the following statements describe financial accounting or managerial accounting.Largely based on forecasting future sales and cash flows, calculating costs and preparing budgets.is concerned with collecting data of historical nature.Reports are very detailed and provide a wealth of information.Must follow Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS) set by professional bodies.Primarily prepared for external users such as creditors and stockholders so that they can make sound financial or investment decisions.Does not...
1. Managerial accounting focuses on providing historical financial information to outside users including shareholders and creditors.
1. Managerial accounting focuses on providing historical financial information to outside users including shareholders and creditors.2. Managerial accounting information must follow U.S. Generally Accepted Accounting Principles (CA AP)3. The control function is implemented to assess an organization's plan and may lead to recommendations for the future.4. The treasurer is typically in charge of all finance and accounting functions within an organization.5. The Institute of Management Accountants (IMA) provides formal guidance to help in choosing ethically acceptable courses of action
Financial accounting does NOT deal with which of the
following?
Financial accounting does NOT deal with which of the following? Select one a Communicating financial results to investors b. Measuring a company's economic activity. c. Allocating cost to different products. O d. Preparing financial statement
only the final answers plz
1. Which definition below best describes financial accounting? A. Process of measuring income taxes owed to the government. B. System of maintaining communication with a company's customers and suppliers. C. Procedures designed to enhance the company's image to potential investors. D. Measuring business activities and communicating them to external parties. 2. Liabilities can be best described as: A. The amount of expenses over the past year. B. The amount expected to be distributed to stockholders....
For the following statements, determine which word or phrase from the list below will best complete it. Note: Some words or phrases could be used more than once, and some might not be used.must give information about the changes in economic resources and claims on the economic resources.should not be used when liquidation is likely. ensures that the benefits of providing more information are greater than the cost of providing it.when applied, financial statement users will find it useful to...
Write C (Cost/Managerial), F (Financial), or T (Tax) next to each of the following statements. The purpose of this information is to calculate taxable income. This information must follow Generally Accepted Accounting Principles. Types of information generated from this type of accounting are financial statements that were subject to audit. This information is not subject to rules and regulations on report type, format, etc. Types of information generated by this type of accounting are budgets, cost analysis, and department reports....
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Objectives of financial reporting to external investors and creditors include preparing information about all of the following except: (A) Information used to determine which products to produce. B) Information about economic resources, claims to those resources, and changes in both resources and claims. C) Information that is useful in making investment and credit decisions. D) Information that is useful in assessing the amount, timing,...
QUESTION 17 The financial information included within the financial statements reflects only the financial performance of the entity as determined by applying the guidance and rules incorporated within the Conceptual Framework and within applicable accounting standards: they do not provide a means of assessing the performance of the entity. legal O technological O social or environmental O political QUESTION 18 Which among the following is not a current value measurement? Fair value Value in use for assets) or fulfilment value...
Which of the following characteristics does NOT apply to Financial Accounting? Used by investors when making stock purchase decisions a. Information reviewed by external auditors Ob. Regularly uses predictiions Used by creditors when making loan approval decisions Od.
Take me to the textIndicate whether the following statements describe financial accounting or managerial accounting.Largely based on forecasting future sales and cash flows, calculating costs and preparing budgets.is concerned with collecting data of historical nature.Reports are very detailed and provide a wealth of information.Must follow Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS) set by professional bodies.Primarily prepared for external users such as creditors and stockholders so that they can make sound financial or investment decisions.Does not...
Most questions answered within 3 hours.
-
Flower colour in a plant species is determined by two genes,
gene B and gene P....
asked 43 seconds from now -
findWordCrossIndex(horizontalWord, verticalWord) This function
finds and returns the index in the string "horizontalWord" of the
first...
asked 2 minutes ago -
evaluate the statements below and select those that correctly apply
to the role of PAMPs and...
asked 8 minutes ago -
Congratulations! You have just won the Lottery. The Lottery
Commission informs you that you can choose...
asked 14 minutes ago -
bulk flow (in respiration) moves blood from?
Air in and out of lungs?
air into lungs?...
asked 19 minutes ago -
Which of the following describes a private network?
1. A wide area network (WAN) linking sites...
asked 33 minutes ago -
The purpose of this
lab: Wireshark Intro Lab
is to get students
familiar with the use of...
asked 42 minutes ago -
Question 3
A 50 percent deduction is allowed for amounts paid or incurred for
dues and...
asked 40 minutes ago -
Assuming that the wave speed varies little when sound waves are
traveling through a material that...
asked 55 minutes ago -
The rise of online shopping and Amazon, in particular, has
created major dilemmas for large food/CPG...
asked 55 minutes ago -
Is oxygen difluoride polar or nonpolar?
nonpolar
polar
ionic
none of the above
asked 1 hour ago -
Starting from rest, a car accelerates at a constant rate of 2.6
m/s2 for a time...
asked 1 hour ago