A100 Final Exam Study Guide | Practice
Questions and Correct Answers
Statement of retained earnings
Beginning retained earning
+ net income
- Div
End retained earnings (cum. profits)
cash flows
Beg. Cash
+/- operating CFs
+/- Investing CFs
+/- Financing CFs
accounting
Recording of business transactions, the preparation of reports summarizing these
transactions, and the analyzing of financial information
financial statements
Reports prepared from the accounting system and available to individuals both
inside and outside the company
financial accounting
Refers specifically to the record and related reports that are available to people
outside of the company
financing activities
Those transactions that raise funds for the company to operate or expand
investing activities
The company is investing in assets that it will use in its business operations
Questions and Correct Answers
Statement of retained earnings
Beginning retained earning
+ net income
- Div
End retained earnings (cum. profits)
cash flows
Beg. Cash
+/- operating CFs
+/- Investing CFs
+/- Financing CFs
accounting
Recording of business transactions, the preparation of reports summarizing these
transactions, and the analyzing of financial information
financial statements
Reports prepared from the accounting system and available to individuals both
inside and outside the company
financial accounting
Refers specifically to the record and related reports that are available to people
outside of the company
financing activities
Those transactions that raise funds for the company to operate or expand
investing activities
The company is investing in assets that it will use in its business operations
