CBE Exam questions and answers graded A+ 2023/2024

CBE ExamThe financial statement that represent the position of a company at a point in time is the - correct answer Balance Sheet The financial statement that represents the position of a company over a period of time is the - correct answer Income Statement The statement of cash flows is divided into sections of - correct answer Operating, Investing, & Financing The footnotes to the financial statements are - correct answer an integral part A ________ increases the fixed assets accounts - correct answer debit An increase in owner's equity is accomplished by - correct answer selling common stock and net income The accounting equation is - correct answer assets equal liabilities plus owners' equity The payment of a liability will ______ the liability balance - correct answer decrease Users of the financial statements include - correct answer creditors, investors, & government The basic financial statements of a company are (is) - correct answer balance sheet, income statement, statement of cash flow and stockholders equity Generally Accepted Accounting Principles (GAAP) requires the ______ basis of accounting for financial statements - correct answer accrual The annual report of a publically traded company is filed with the - correct answer SEC The financial statements of a publically traded company may be found - correct answer within the annual report, on their website, and in documents filed with the SEC The financial statements of a public company are influenced by the - correct answer SEC, FASB, and government The equity section of the financial statements include - correct answer common stock, additional paid in capital, & retained earnings Accounts receivable are generally presented as a - correct answer short term asset The report that communicates GAAP financial statements is - correct answer annual report A current liability is one that will be satisfied in - correct answer a month, a year, a quarter or less A long term asset is which of the following - correct answer factory building All of the following are characteristics of Weberian bureaucracy EXCEPT - correct answer Management is the same as the ownership of the organization Tommy believes his employees are responsible, creative, and able to work with minimal direction. He is a: - correct answer Theory Y manager 10 + 10 = 25 reflects which of these? - correct answer Synergy Elements of TQM include - correct answer benchmarking A cultural attitude marked by the tendency to regard one's own culture as superior to others is called - correct answer ethnocentrism