HESI OB Maternity V1 & V2 Exam Questions and Answers – Complete Study Guide 2026 2026-03-05
HESI OB Maternity V1 & V2
Exam Questions and
Answers – Complete Study
Guide 2026
Page 1 Guidehttps://www.stuvia.com/dashboard!@_)#*)(@$)($@*($@)($@*_ HESI OB Maternity V1 & V2 Exam Questions and Answers – Complete Study Guide 2026.pdf
,HESI OB MATERNITY V1 AND V2 EXAM SCRIPT QUESTIONS AND ANSWERS 2026-03-05
HESI OB MATERNITY V1 AND V2 EXAM SCRIPT
2026 COMPLETE QUESTIONS AND ANSWERS
◉ Bookkeeping. Answer: the preservation of a systematic,
quantitative record of an activity
◉ accounting system. Answer: used by a business to handle routine
bookkeeping tasks and to structure the information so it can be used
to evaluate the performance and financial status of the business
◉ Accounting information. Answer: Info that is intended to be useful
in making decisions about the future.
◉ The balance sheet, the income statement, and the statement of
cashflows. Answer: What are the three primary financial
statements?
◉ External Users. Answer: Who is financial accounting information
primarily prepared for and used by?
◉ Managerial Accounting. Answer: the name given to accounting
systems designed for internal users
Page 2 HESI OB MATERNITY V1 AND V2 EXAM SCRIPT QUESTIONS AND ANSWERS.pdf
,HESI OB MATERNITY V1 AND V2 EXAM SCRIPT QUESTIONS AND ANSWERS 2026-03-05
◉ Balance Sheet. Answer: Reports a company's assets, liabilities, and
owners' equity
◉ Income Statement. Answer: reports the amount of net income
earned by a company during a period
◉ Net income. Answer: the excess of a company's revenues over its
expenses
◉ statement of cash flows. Answer: reports the amount of cash
collected and paid out by a company in the following three types of
activities: operating, investing, and financing
◉ FASB. Answer: Which private body establishes accounting rules in
the U.S.?
◉ Financial Accounting Standards Board (FASB). Answer: a private
body established and supported by the joint efforts of the U.S.
business community, financial analysts, and practicing accountants
◉ The Securities and Exchange Commission (SEC). Answer: the
organization that regulates U.S. stock exchanges and seeks to create
a fair information environment in which investors can buy and sell
stocks without fear that companies are hiding or manipulating
financial data
Page 3 HESI OB MATERNITY V1 AND V2 EXAM SCRIPT QUESTIONS AND ANSWERS.pdf
, HESI OB MATERNITY V1 AND V2 EXAM SCRIPT QUESTIONS AND ANSWERS 2026-03-05
◉ American Institute of Certified Public Accountants (AICPA).
Answer: the professional organization of certified public
accountants (CPAs) in the United States
◉ Public Company Accounting Oversight Board (PCAOB). Answer:
the organization that inspects the audit practices of registered audit
firms and has statutory authority to investigate questionable audit
practices and to impose sanctions such as barring an audit firm from
auditing SEC-registered companies
◉ Internal Revenue Service (IRS). Answer: Gov't agency that
establishes rules to define exactly when income should be taxed. It
has no role in setting financial accounting rules; and a company's
financial statements are not used in determining how much tax the
company must pay
◉ The International Accounting Standards Board (IASB). Answer:
Organization that was formed to develop a common set of
worldwide accounting standards. Its standards are increasingly
accepted worldwide, but FASB rules are still the standard in the
United States.
◉ 1. Rapid Advancements in the IT field
2. the international integration of worldwide business
Page 4 HESI OB MATERNITY V1 AND V2 EXAM SCRIPT QUESTIONS AND ANSWERS.pdf
HESI OB Maternity V1 & V2
Exam Questions and
Answers – Complete Study
Guide 2026
Page 1 Guidehttps://www.stuvia.com/dashboard!@_)#*)(@$)($@*($@)($@*_ HESI OB Maternity V1 & V2 Exam Questions and Answers – Complete Study Guide 2026.pdf
,HESI OB MATERNITY V1 AND V2 EXAM SCRIPT QUESTIONS AND ANSWERS 2026-03-05
HESI OB MATERNITY V1 AND V2 EXAM SCRIPT
2026 COMPLETE QUESTIONS AND ANSWERS
◉ Bookkeeping. Answer: the preservation of a systematic,
quantitative record of an activity
◉ accounting system. Answer: used by a business to handle routine
bookkeeping tasks and to structure the information so it can be used
to evaluate the performance and financial status of the business
◉ Accounting information. Answer: Info that is intended to be useful
in making decisions about the future.
◉ The balance sheet, the income statement, and the statement of
cashflows. Answer: What are the three primary financial
statements?
◉ External Users. Answer: Who is financial accounting information
primarily prepared for and used by?
◉ Managerial Accounting. Answer: the name given to accounting
systems designed for internal users
Page 2 HESI OB MATERNITY V1 AND V2 EXAM SCRIPT QUESTIONS AND ANSWERS.pdf
,HESI OB MATERNITY V1 AND V2 EXAM SCRIPT QUESTIONS AND ANSWERS 2026-03-05
◉ Balance Sheet. Answer: Reports a company's assets, liabilities, and
owners' equity
◉ Income Statement. Answer: reports the amount of net income
earned by a company during a period
◉ Net income. Answer: the excess of a company's revenues over its
expenses
◉ statement of cash flows. Answer: reports the amount of cash
collected and paid out by a company in the following three types of
activities: operating, investing, and financing
◉ FASB. Answer: Which private body establishes accounting rules in
the U.S.?
◉ Financial Accounting Standards Board (FASB). Answer: a private
body established and supported by the joint efforts of the U.S.
business community, financial analysts, and practicing accountants
◉ The Securities and Exchange Commission (SEC). Answer: the
organization that regulates U.S. stock exchanges and seeks to create
a fair information environment in which investors can buy and sell
stocks without fear that companies are hiding or manipulating
financial data
Page 3 HESI OB MATERNITY V1 AND V2 EXAM SCRIPT QUESTIONS AND ANSWERS.pdf
, HESI OB MATERNITY V1 AND V2 EXAM SCRIPT QUESTIONS AND ANSWERS 2026-03-05
◉ American Institute of Certified Public Accountants (AICPA).
Answer: the professional organization of certified public
accountants (CPAs) in the United States
◉ Public Company Accounting Oversight Board (PCAOB). Answer:
the organization that inspects the audit practices of registered audit
firms and has statutory authority to investigate questionable audit
practices and to impose sanctions such as barring an audit firm from
auditing SEC-registered companies
◉ Internal Revenue Service (IRS). Answer: Gov't agency that
establishes rules to define exactly when income should be taxed. It
has no role in setting financial accounting rules; and a company's
financial statements are not used in determining how much tax the
company must pay
◉ The International Accounting Standards Board (IASB). Answer:
Organization that was formed to develop a common set of
worldwide accounting standards. Its standards are increasingly
accepted worldwide, but FASB rules are still the standard in the
United States.
◉ 1. Rapid Advancements in the IT field
2. the international integration of worldwide business
Page 4 HESI OB MATERNITY V1 AND V2 EXAM SCRIPT QUESTIONS AND ANSWERS.pdf
