Bus-a 100 Midterm IU Latest Update Exam | Questions and Verified Answers | 100% Correct | Grade A +

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Bus-a 100 Midterm IU Latest Update Exam | Questions and
Verified Answers | 100% Correct | Grade A +



Big 4 companies - ANSWER KPMG, PwC, Deloitte, Ernst and
Young


Unearned Revenue - ANSWER decreases liabilities, revenue
increased


Depreciation - ANSWER reduces both stockholders' equity and
assets


Leverage - ANSWER the extent to which the company uses debt
as opposed to equity


Operating - ANSWER everything else, sale for cash


Investing - ANSWER Buying and selling land, buildings, and
equipment


Financial - ANSWER transactions with stockholders' and bankers

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Equity Investors - ANSWER stockholders, hope to receive
dividends or increase in stock price


Debt Investors - ANSWER creditors of the business, expect
principal and interest payments


Securities and Exchange Commission requirements for public
company - ANSWER Form 10-K, Form 10-Q, audited financial
statements by an independent auditor


GAAP - ANSWER accounting standard that companies based in
US are required to use


FASB - ANSWER responsible for GAAP


IFRS - ANSWER accounting standards used in 100+ other
countries


IASB - ANSWER responsible for IFRS