WGU D774 Intro to Business Accounting
with remedy
, In which country was the double-entry accounting system developed in the
15th century?
correct ans:Italy
Which major economic event followed soon after the Stock Market Crash of
1929? - correct ans:Great Depression
Which economic event immediately preceded and led to the passage of the
Sarbanes-Oxley Act of 2002? - correct ans:Dot-com bubble
Why are there no standardized regulations relating to the production of
managerial accounting information? - correct ans:Company managers can
generate any information they want to help them make better decisions, so
no outside regulation is needed.
What is a common use of managerial accounting information? - correct
ans:Making better planning, operating, and evaluating decisions inside a
company
Which report is one of the three primary financial statements? - correct
ans:Income statement
Who performs external audits of financial statements? - correct ans:Certified
Public Accountant (CPA)
Who selects a corporation's board of directors? - correct ans:Shareholders of
the corporation
What is an advantage of structuring a business as a corporation? - correct
ans:Legal existence separated from that of the shareholders
with remedy
, In which country was the double-entry accounting system developed in the
15th century?
correct ans:Italy
Which major economic event followed soon after the Stock Market Crash of
1929? - correct ans:Great Depression
Which economic event immediately preceded and led to the passage of the
Sarbanes-Oxley Act of 2002? - correct ans:Dot-com bubble
Why are there no standardized regulations relating to the production of
managerial accounting information? - correct ans:Company managers can
generate any information they want to help them make better decisions, so
no outside regulation is needed.
What is a common use of managerial accounting information? - correct
ans:Making better planning, operating, and evaluating decisions inside a
company
Which report is one of the three primary financial statements? - correct
ans:Income statement
Who performs external audits of financial statements? - correct ans:Certified
Public Accountant (CPA)
Who selects a corporation's board of directors? - correct ans:Shareholders of
the corporation
What is an advantage of structuring a business as a corporation? - correct
ans:Legal existence separated from that of the shareholders
