Bsns115 exam - Study guides, Class notes & Summaries

BSNS115 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED LATEST UPDATE Internal users those within an organization who use financial information to make day-to-day decisions External users people outside the business entity (organization) who use accounting information. Management accounting all about decision making and helps you make an informed decision Financial Accounting The preparation of financial statements Conceptual framework Cost constraint in financial informa...

BSNS115 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED Manipulation is least likely to occur in which financial statement? a. The statement of cash flows which of the following found in the income statement? Sales revenue which of the following is an asset? Accounts payable which of the following is not a business transaction? Recruiting a new employee who is yet to start an owner invests $70,000 to expand the business. As a result, this transaction will: increase equity...

BSNS115 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED LATEST UPDATE what is accounting the process of identifying measuring and communicating economic information for decision making purposes Accounting as an information system information identification - info recording - info analysis - info reporting Internal users of accounting Extremely valuable to an entity owner or management - working in the org External users: Parties outside outside the entity eg: government, cust...

BSNS115 Final Exam Questions And Correct Answers. Verified Solution. Variable Costs Those costs that only occur with production. e.g. raw material, direct labour, manufacturing overhead Fixed Costs Those costs that occur regardless of whether production occurs or not e.g. rent, rates, salary. Accounting The process of identifying, recording, and analysing useful economic information to help the user make decisions. Relevant Range The level of activity over which a particular cost behav...