ACCOUNTING 501 (LATEST UPDATE) REAL QUESTIONS
AND VERIFIED ANSWERS |100% CORRECT | ALREADY
GRADED A
Creditor Ans✓✓✓One who lends money to a business (usually a bank)
Interest Ans✓✓✓A percentage of a creditor's initial investment that
gives them income
Stockholders Ans✓✓✓Partial owners of a business
Dividends Ans✓✓✓A portion of what the company earns in cash
payments
Internal Decision Makers Ans✓✓✓Managers
External Decision Makers Ans✓✓✓Stockholders and Creditors
Financing Activities Ans✓✓✓Borrowing or paying back money to
lenders and receiving additional funds from stockholders or paying them
dividends
Investing Activities Ans✓✓✓Buying or selling items such as plant and
equipment used in the production of beverages
, Operating Activities Ans✓✓✓the day-to-day process of purchasing raw
tea from suppliers, manufacturing beverages, delivering them to
customers, collecting cash from customers, and paying suppliers
Marketing/Credit Managers Ans✓✓✓Use customers' financial
statements to decide whether to extend credit to their customers
Supply Chain Managers Ans✓✓✓Analyze suppliers' financial
statements to see whether the suppliers have the resources to meed
demand and invest in future development
Human Resource Managers Ans✓✓✓Use financial statements as a basis
for contract negotiations
Four Basic Financial Statements Ans✓✓✓Balance Sheet
Income Statement
Statement of Stockholders' Equity
Statement of Cash Flows
Balancing Sheet Ans✓✓✓Report the financial position (assets,
liabilities, and stockholders equity) of an accounting entity at a particular
point in time.
Basic Accounting Equation Ans✓✓✓Assets = Liabilities +
Stockholders' Equity
AND VERIFIED ANSWERS |100% CORRECT | ALREADY
GRADED A
Creditor Ans✓✓✓One who lends money to a business (usually a bank)
Interest Ans✓✓✓A percentage of a creditor's initial investment that
gives them income
Stockholders Ans✓✓✓Partial owners of a business
Dividends Ans✓✓✓A portion of what the company earns in cash
payments
Internal Decision Makers Ans✓✓✓Managers
External Decision Makers Ans✓✓✓Stockholders and Creditors
Financing Activities Ans✓✓✓Borrowing or paying back money to
lenders and receiving additional funds from stockholders or paying them
dividends
Investing Activities Ans✓✓✓Buying or selling items such as plant and
equipment used in the production of beverages
, Operating Activities Ans✓✓✓the day-to-day process of purchasing raw
tea from suppliers, manufacturing beverages, delivering them to
customers, collecting cash from customers, and paying suppliers
Marketing/Credit Managers Ans✓✓✓Use customers' financial
statements to decide whether to extend credit to their customers
Supply Chain Managers Ans✓✓✓Analyze suppliers' financial
statements to see whether the suppliers have the resources to meed
demand and invest in future development
Human Resource Managers Ans✓✓✓Use financial statements as a basis
for contract negotiations
Four Basic Financial Statements Ans✓✓✓Balance Sheet
Income Statement
Statement of Stockholders' Equity
Statement of Cash Flows
Balancing Sheet Ans✓✓✓Report the financial position (assets,
liabilities, and stockholders equity) of an accounting entity at a particular
point in time.
Basic Accounting Equation Ans✓✓✓Assets = Liabilities +
Stockholders' Equity
