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Financial Accounting (BUS 302L) Exam Study Guide with Correct Answers $12.49   Add to cart

Exam (elaborations)

Financial Accounting (BUS 302L) Exam Study Guide with Correct Answers

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  • BUS 302L
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  • BUS 302L

Financial Accounting (BUS 302L) Exam Study Guide with Correct Answers Comparing actual outcomes with budget outcomes, then following up, is an example of a a. planning activities b. operating activities c. controlling activities d. accounting activities e. staffing activities - Answer-c. con...

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  • October 3, 2024
  • 85
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • BUS 302L
  • BUS 302L
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Financial Accounting (BUS 302L) Exam
Study Guide with Correct Answers

Comparing actual outcomes with budget outcomes, then following up, is an example of a




a. planning activities




b. operating activities




c. controlling activities




d. accounting activities




e. staffing activities - Answer✔✔-c. controlling activities


Which of the following is typically a starting point for the budget process?




a. a summary cash budget




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b. a sales budget




c. a budget balance sheet




d. a production budget




e. a materials purchase budget - Answer✔✔-b. a sales budget


Tax accounting is generally most used by:




a. Share holder




b. Manager




c. Creditors




d. Internal revenue service




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e. Decision makers - Answer✔✔-d. Internal revenue service


Management accountant place more emphases on which of the following:




a. certified financial statement




b. future activities




c. historial cost information




d. cash flow




e. annual tax returns - Answer✔✔-b. future activities


Which of the following organization would be most likely to accept a process costing system?




a. customer homebuilder




b. law office




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c. paper manufacture




d. dental office




e. TV sale and services organization - Answer✔✔-c. paper manufacture


The discount rate for use in capital budgeting decision is also referred to as




a. a cost of capital




b. the cost of capital




c. the hurdle rate




d. the minimum required rate of return




e. all none - Answer✔✔-d. the minimum required rate of return


What is breakeven point in units?




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