Acc/561 Final Examination Study Guide

final examination Examination Study Guide ACC/561 Version 4

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ACC/561 Final Examination Study Guide
This study guide result fixate you for the Final Examination you will complete in the final week. It contains practice questions, which are related to each weeks objectives. In addition, refer to each weeks readings and your educatee guide as study references for the Final Examination. Week ane: Financial Reporting and Analysis accusing: Differentiate between financial statements.

1. The _____ is also called the statement of financial position. a. income statement b. equipoise sheet c. statement of retained earnings d. statement of working capital flows
Objective: Differentiate between financial statements.

2. _____ is the field of business relationship that develops information for external decision makers, such as
stockholders, suppliers, banks, and government restrictive agencies. a. Auditing

b. c. d.

Tax bank billing Management accounting Financial accounting

Objective: Differentiate between financial statements.

3. The primary users of management accounting information are _____. a. bankers b. governmental regulatory authorities c. inner decision makers d. suppliers
Objective: Evaluate financial statements of nongovernment organizations.

4.



The Rebecca Company acquired trade inventory costing $10,000 on September 1. The
company will not pay for the inventory until October 1. This transaction will refer the Rebecca Company by increasing the merchandise inventory account by $10,000 and by _____. a. increasing the accounts payable account by $10,000

b. c. d.

decreasing the accounts payable account by $10,000 increasing the capital account by $10,000 decreasing the capital account by $10,000

Objective: Evaluate financial statements of nongovernment organizations.

5. Etiwanda Companys comptroller recorded a debit to the accounts payable account and a credit
to the cash account. This transaction will _____. a. increase cash and change magnitude accounts...If you want to get a full essay, order it on our website: Ordercustompaper.com



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