Homework Answers
Financial accounting provides information used primarily by investors and creditors
Financial accounting concerned with providing external report to Investors , Creditors, and all the external party ie government , banks . Financial accountijg provide information to support investment and credir decisions .
Investors have interest in companies financial accounting statement as they invest in company's business and want to see the potential scope of there return .Creditor can analyse from the income statement whether company is earning trading profit as company organization owe him money. Hence financial statements provide them the financial position of the organisation.
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Financial accounting provides information used primarily by creditors investors employees executives
QUESTION 17 Financial accounting does not deal with which of the following? Measuring a company's economic...
QUESTION 17 Financial accounting does not deal with which of the following? Measuring a company's economic activity. Providing information to internal users. Preparing financial reports. Communicating financial results to investors. QUESTION 18 Financial accounting objectives do not include providing information: O Useful to investors and creditors in making decisions. To determine market values, assess profit potential, and evaluate management. Helpful to investors in predicting cash flows That tells about a company's economic resources and claims to those resources. QUESTION 19...
3. Why should the investors and creditors be confident that the financial statements are accurately produced?...
3. Why should the investors and creditors be confident that the financial statements are accurately produced? 4. Are the financial statements primarily and internal report rather than used externally of the firm?
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 each of the following items is representative of managerial or of financial accounting: Information...
Indicate whether each of the following items is representative of managerial or of financial accounting: Information is factual and is characterized by objectivity, reliability, consistency, and accuracy. Information is reported continuously and has a current or future orientation. Information is provided to outsiders, including investors, creditors, government agencies, analysts, and reporters. Information is regulated by the SEC, FASB, and other sources of GAAP. Information is based on estimates that are bounded by relevance and timeliness. Information is historically based and...
True (T) or False (F): T F1. Management accounting provides economicand financial information for...
True (T) or False (F): T F1. Management accounting provides economic and financial information for external users such as shareholders, creditors and banks.2. Financial accounting provides information for managers and other internal users.3. Financial accounting reports past results. 4. Management accounting is future oriented. 5. Management accounting is required to follow generally accepted accounting principles.6. Financial accounting examines monetary and non-monetary events.7. Cost accounting is used as a means of fixing a selling price.8. Cost accounting looks at...
Investors primarily use managerial accounting information for decision-making purposes. True False
Investors primarily use managerial accounting information for decision-making purposes. True False
The primary objective of cost/management accounting is to provide: a) banks and other creditors with financial...
The primary objective of cost/management accounting is to provide: a) banks and other creditors with financial information b) stockholders and potential investors with financial information c) the Internal Revenue Service with information regarding taxable income d) internal management with information for planning & control purposes
Internal users of financial information for making decisions include: Multiple choice question. investors bankers managers creditors
Internal users of financial information for making decisions include: Multiple choice question. investors bankers managers creditors
Confirmatory value is central to the financial accounting concept of earnings quality" primarily because: Multiple Choice...
Confirmatory value is central to the financial accounting concept of earnings quality" primarily because: Multiple Choice It allows investors to verify or change their prior assessments of a company's performance. It helps investors predict a company's future earnings. It helps investors predict a company's future cash flows. O It allows investors to compare the performance of a company over time. Permanent accounts do not include: Multiple Choice Prepaid rent. Interest expense. Salaries payable. Deferred sales revenue. The accounting processing cycle:...
1. Choose the answer that is not a distinguishing characteristic of financial accounting information. It is...
1. Choose the answer that is not a distinguishing characteristic of financial accounting information. It is global information that reflects the performance of the whole company. It is used primarily by internal users to facilitate decision making within the company. It is more concerned with financial data than physical or economic data. It is more highly regulated than managerial accounting information. 2. What types of businesses can use a job costing system? A. Manufacturing and merchandising businesses B....
QUESTION 17 Financial accounting does not deal with which of the following? Measuring a company's economic activity. Providing information to internal users. Preparing financial reports. Communicating financial results to investors. QUESTION 18 Financial accounting objectives do not include providing information: O Useful to investors and creditors in making decisions. To determine market values, assess profit potential, and evaluate management. Helpful to investors in predicting cash flows That tells about a company's economic resources and claims to those resources. QUESTION 19...
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.
Confirmatory value is central to the financial accounting concept of earnings quality" primarily because: Multiple Choice It allows investors to verify or change their prior assessments of a company's performance. It helps investors predict a company's future earnings. It helps investors predict a company's future cash flows. O It allows investors to compare the performance of a company over time. Permanent accounts do not include: Multiple Choice Prepaid rent. Interest expense. Salaries payable. Deferred sales revenue. The accounting processing cycle:...
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