Exam (elaborations)
Saylor Academy BUS 101 Unit 4 Assessment 2024 Review
- Course
- Institution
Saylor Academy BUS 101 Unit 4 Assessment 2024 Review
[Show more]
Content preview
Saylor Academy BUS 101 Unit 4Assessment 2024 Review
Which of the following is the main purpose of accounting in the business process? - Answer>> To ensure that stakeholders have accurate financial information for decision making
Which of the following statements about management accounting is true? - Answer>> Financial management reports are tailored to the needs of individual managers.
What is the name of the uniform set of rules that are used by financial accountants for financial reporting? - Answer>> GAAP (Generally Accepted Accounting Principles)
Which of the following elements appears on an Income Statement? - Answer>> Cost of goods sold
Which of the following statements about a balance sheet is true? -
Answer>> A balance sheet represents income at a specific point in time.
Which of the following are the elements of the Balance Sheet? - Answer>> Assets, liabilities and owner's equity
When preparing an Income Statement, how is gross profit determined? - Answer>> Sales less cost of goods sold
Which of the following is the formula for Return on Equity? - Answer>> Net Income divided by Equity
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller StarScoreGrades. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72964 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
