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Cash Flow Statement correct answers A Cash Flow Statement shows the changes in a business' cash during an accounting period by listing the cash inflows and outflows from operating, investing and financing activities during the period. Why is the Cash Flow Statement important? correct answers The Cash Flow Statement provides information about a business' ability to remain solvent (meet its obligations) and to grow. What does the Cash Flow Statement show? correct answers The Cash Flow ...

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5 pages

Written in 2024/2025

Grade A+

ProPerfomer

Under the accounting standard governing the presentation of the statement of profit or loss, the item that is not required to be presented on the face of the statement for a retail entity is: correct answers depreciation Equity is decreased by: correct answers expenses Which of these would not be recorded as increasing income on 13 January? correct answers Cash sale on 31 January The statement of profit or loss: correct answers presents the income and expenses of an entity for a specifi...

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8 pages

Written in 2024/2025

Grade A+

ProPerfomer

Accy130 Mcqs Exam Questions And Accurate Answers A+ Rated ...

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5 pages

Written in 2025/2026

Grade A+

Zayla

Accy 130 – Exam || A+ Graded Solutions!! Accy130 Exam || 100% Correct Answers; Scored A+ Accy130 Inspera Quiz (Lecture Week 3/4) With 100% Correct Answers; A+ Graded. Accy130 Mcqs || Questions With 100% Solved Answers!! Accy130 - Final Test || A+ Guaranteed!!

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22 items

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Higher price correct answers Lower revenue as not many people would want to spend that much money when they could get a similar thing for much cheaper Cost based (or cost-plus) approach correct answers focused on the cost of producing a product or rendering a service that can deliver expected return on the investment benefit of a cost-based (cost-plus) approach correct answers easy to calculate and provide quick and accurate basis for pricing and focuses on businesses cost which many incen...

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3 pages

Written in 2024/2025

Grade A+

ProPerfomer

What is Corporate Social Responsibility (CSR) correct answers The responsibility an organisation accepts to various stakeholders and the environment over and above their legal obligations Components of CSR reporting correct answers Social reporting and Environmental reporting What is Social Reporting? correct answers provides information about an organisations impact upon particular people and societies What is Environmental Reporting? correct answers provides information about an organ...

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6 pages

Written in 2024/2025

Grade A+

ProPerfomer

Financial accountant vs management correct answers The financial accountant would perform activities such as preparation of financial reports i.e. statement of profit or loss, balance sheet and the statement of cash flows in accordance with generally accepted accounting principles, which are represented by accounting standards including those issued by both the XRB and the IASB and the Companies Act. The management accountant would perform activities such as capital budgeting for future store...

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7 pages

Written in 2024/2025

Grade A+

ProPerfomer

Why should you prepare a budget? correct answers - Essential for efficient operations and organisational survival - Provide means of operationalising the organisation's strategic plan - Create a framework to understand the interconnectivity of various activities - Provide an early warning when resource constraints may need to be enforced - Provide a basis of evaluating future performance What is a Master Budget? correct answers A comprehensive set of budgets that provide coverage of an...

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2 pages

Written in 2024/2025

Grade A+

ProPerfomer

stakeholder correct answers group/individual who can affect/is affected by the achievement of an organ's objectives Role of accounting correct answers - help stakeholders make informed dec - hold powerful people accountable for their dec Accountability correct answers duty to procide an account of those actions which an organ is deemed to be responsible Qualitative Characteristics of Accounting Information correct answers - relevance: has predictive or confirmatory value - reliabil...

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7 pages

Written in 2024/2025

Grade A+

ProPerfomer

What is a balance sheet? correct answers The balance sheet reports the financial position of an entity at a point in time. It lists the assets and the claims on those assets. What basic accounting equation is the balance sheet based on? correct answers A=L+E (assets = liabilities plus equity) Assets must balance to the claims on them. An owner contributes $50,000 to expand the business. This transaction would: a: increase income b: increase expenses c:increase capital d: decrease inc...

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6 pages

Written in 2024/2025

Grade A+

ProPerfomer

A measure of how quickly a business can convert its assets into cash to pay its bills is called: correct answers Liquidity. The number of days in the collection period should be: correct answers As low as possible. Blackstone Company uses a periodic inventory system. It had beginning inventory of $100,000, purchases of $1,300,000, and ending inventory of $125,000. What was Blackstone's cost of goods sold? correct answers $1,275,000 ABC Limited reported $356,500 for current assets and...

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3 pages

Written in 2024/2025

Grade A+

ProPerfomer

It is compulsory to complete ten out of the twelve quizzes in Tri 2 for ACCY 130 correct answers False Management accounting reports are prepared correct answers to provide up-to-date information to managers for decision making The use of one set of accounting standards by companies throughout the world correct answers reduces the cost of preparing financial reports The number of countries preparing financial reports using global accounting standards is correct answers more than 120 ...

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1 pages

Written in 2024/2025

Grade A+

ProPerfomer

Assets and liabilities are listed in the balance sheet in terms of: correct answers Liquidity A balance sheet prepared in a narrative format presents: correct answers Assets followed by liabilities then equity down the page Equity is defined independently of assets and liabilities, true or false correct answers False Current and non-current liabilities are categorised based on: correct answers when the liability is due for payment If sales revenue is $600 000, and cost of sales is $4...

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3 pages

Written in 2024/2025

Grade A+

ProPerfomer

Why is it important for business people to study ethics? correct answers Ethical reputation and trust is important in a business environment, helps them to identify ethical issues and available approaches for resolution Why are individual moral values not helpful in making business decisions? correct answers The values do not provide specific guidelines for complex business decisions due to the difference between individual experiences and work experiences What framework can be used to eva...

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4 pages

Written in 2024/2025

Grade A+

ProPerfomer