ACCT 2102 EXAM QUESTIONS WITH COMPLETE
SOLUTIONS
Ch. 1
Financial and Managerial accounting are similar in that both
A. are regulated by outside regulatory agencies and
commissions.
B. use information provided by the internal accounting system.
C. primarily emphasize future operating results and goals.
D. are designed to meet the needs of managers.
E. provide information primarily to external users. Correct
Answers B. use information provided by the internal
accounting system.
Ch. 1
Which of the following lists all phases of the business cycle?
A. beginning, middle, end
B. planning, directing, controlling
C. decision-making, recording, comparing
,D. service, merchandiser, manufacturer
E. exposition, rising action, climax Correct Answers B.
planning, directing, controlling
Ch. 1
Which of the following lists all phases of the business cycle?
A. beginning, middle, end
B. planning, directing, controlling
C. service, merchandiser, manufacturer
D. exposition, rising action, climax
E. decision-making, recording, comparing Correct Answers B.
planning, directing, controlling
Ch. 1
Which of the following masters level accounting tracks at UGA
consists of viewing the work of others to determine if the output
is "free of material errors"?
A. financial
B. systems
C. tax
, D. managerial
E. audit Correct Answers E. audit
Ch. 1
Which of the following masters level accounting tracks at UGA
consists of viewing the work of others to determine if the output
is "free of material errors"?
A. tax
B. audit
C. managerial
D. systems
E. financial Correct Answers B. audit
Ch. 1
Financial and Managerial accounting are similar in that both
A. provide information primarily to external users.
B. are designed to meet the needs of managers.
C. are regulated by outside regulatory agencies and
commissions.
D. primarily emphasize future operating results and goals.
SOLUTIONS
Ch. 1
Financial and Managerial accounting are similar in that both
A. are regulated by outside regulatory agencies and
commissions.
B. use information provided by the internal accounting system.
C. primarily emphasize future operating results and goals.
D. are designed to meet the needs of managers.
E. provide information primarily to external users. Correct
Answers B. use information provided by the internal
accounting system.
Ch. 1
Which of the following lists all phases of the business cycle?
A. beginning, middle, end
B. planning, directing, controlling
C. decision-making, recording, comparing
,D. service, merchandiser, manufacturer
E. exposition, rising action, climax Correct Answers B.
planning, directing, controlling
Ch. 1
Which of the following lists all phases of the business cycle?
A. beginning, middle, end
B. planning, directing, controlling
C. service, merchandiser, manufacturer
D. exposition, rising action, climax
E. decision-making, recording, comparing Correct Answers B.
planning, directing, controlling
Ch. 1
Which of the following masters level accounting tracks at UGA
consists of viewing the work of others to determine if the output
is "free of material errors"?
A. financial
B. systems
C. tax
, D. managerial
E. audit Correct Answers E. audit
Ch. 1
Which of the following masters level accounting tracks at UGA
consists of viewing the work of others to determine if the output
is "free of material errors"?
A. tax
B. audit
C. managerial
D. systems
E. financial Correct Answers B. audit
Ch. 1
Financial and Managerial accounting are similar in that both
A. provide information primarily to external users.
B. are designed to meet the needs of managers.
C. are regulated by outside regulatory agencies and
commissions.
D. primarily emphasize future operating results and goals.
