AB 113 Unit 2 Exam (Kaplan)
- The purchase of tangible and intangible assets is completed through which activity?
- When a company provides products or services that are less than the competitor is what type of strategy?
- A business creates revenue through the process of ________
- Cash that is collected from sales and or services is considered what type of business activity?)
- Accounts payable is considered a(an) ________ to a business and posted on the ______ statement (sheet).
- Generating revenue for a business is part of what activity?
- These items can be found on what statement, assets, liabilites and owners equity.
- What is the term that best describes accounting?
- What are the three types of business operations that are for profit?
- What is the order of preparation for financial statements?
- Financial accounting produces reports that are used for ______ users.
- Calculate the missing amount in this equation.
Assets = Liabilities + Stockholders Equity
85,000 = x + 21,000
- The concept that states a company will last indefinitely is_______.
- Accounts receivable can be located on which financial statement?
- The statement of cash flow shows the movement of ______ in the business activities.
- Which statement is preferred by investors?
- What activity does not populate the statement of cash flow?
- Which is not a major objective of financial accounting?
- A business obtains financing through what market?
- When is revenue recorded according to the accounting concept?
- The asset portion of the balance sheet is listed according to ______ of the asset.
- Manager's make decisions on the future of the business using what method of accounting?
- Which is an example of a capital market stakeholder?
- Providing stakeholders with information on the activities of business is considered the ____.
- Which of the following is NOT a business stakeholder(s)?