1
D196- Principles of Financial and
Managerial Accounting Questions and
Answers (100% Correct Answers)
Already Graded A+
bookkeeping Ans: day to day keeping of
transcations
© 2025 Assignment
steps of decision making Ans: identify issue
Guru01 - Stuvia
gather information
Expert
identify alternatives
select option that most likely results in desired
objective
accounting Ans: analysis of events
record and report financial effects of business
activities
where does capital come from (3) Ans: investors
creditors(lenders)
business itself (from earnings retained)
, 2
2 main types of accounting Ans: financial and
managerial
managerial accounting Ans: gather and analysis
of information for internal use and decision
making.
financial accounting Ans: gather, report, analysis
of information for external users- investors and
© 2025 Assignment
creditors. summary of a business
Guru01 - Stuvia
what does managerial accounting review Ans:
Expert
product cost, breakeven analysis, budgeting,
performance analysis, outsource production
what does financial accounting review Ans:
credit analysis, financial health, estimate value
of the company
examples of external financial reports for
financial accounting Ans: annual report,
financial statement, balance sheet, income
statement, statement of cash flow
balance sheet Ans: reports assets and liabilities.
basic.
list as of a point in time. as of today, as of
yesterday
, 3
income statement Ans: how much did you ,ake
period of time - from nov to jan
statement of cash flow Ans: where did the cash
come from and where did the cash go
period of time - from nov to jan
© 2025 Assignment
lender Ans: lends money with intend to get it
Guru01 - Stuvia
back plus interest. need current income, existing
obligations, existing assets, payroll stub, tax
Expert
return, monthly payments, bank stmts
investor Ans: buys into your company. looks at
if the business is profitable, what they are
buying, buying obligations, potential future
projections
what forms will the manager of a business use
Ans: both financial and managerial
fasb- what does it stand for, who are they and
what do they do Ans: financial accounting
standards board
private group, not govt agency, no legal
authority, conducted of people from a variety of
business related backgrounds.
, 4
establishes financial accounting and reporting
standards for private sector companies
1 of the two boards that make up GAAP
gasb- what does it stand for, who are they, what
do they do Ans: governmental accounting
standards board
© 2025 Assignment
sets accounting and financial reporting
Guru01 - Stuvia
standards for state and legal governments.
Expert
authority over financial reporting by government
entities
1 of the two boards that make up GAAP
gaap Ans: generally accepted accounting
principles
sec Ans: Securities and Exchange Commission
regulates us stock exchange. provides investors
with full and fair information about publicly
traded companies.
legal punishment
D196- Principles of Financial and
Managerial Accounting Questions and
Answers (100% Correct Answers)
Already Graded A+
bookkeeping Ans: day to day keeping of
transcations
© 2025 Assignment
steps of decision making Ans: identify issue
Guru01 - Stuvia
gather information
Expert
identify alternatives
select option that most likely results in desired
objective
accounting Ans: analysis of events
record and report financial effects of business
activities
where does capital come from (3) Ans: investors
creditors(lenders)
business itself (from earnings retained)
, 2
2 main types of accounting Ans: financial and
managerial
managerial accounting Ans: gather and analysis
of information for internal use and decision
making.
financial accounting Ans: gather, report, analysis
of information for external users- investors and
© 2025 Assignment
creditors. summary of a business
Guru01 - Stuvia
what does managerial accounting review Ans:
Expert
product cost, breakeven analysis, budgeting,
performance analysis, outsource production
what does financial accounting review Ans:
credit analysis, financial health, estimate value
of the company
examples of external financial reports for
financial accounting Ans: annual report,
financial statement, balance sheet, income
statement, statement of cash flow
balance sheet Ans: reports assets and liabilities.
basic.
list as of a point in time. as of today, as of
yesterday
, 3
income statement Ans: how much did you ,ake
period of time - from nov to jan
statement of cash flow Ans: where did the cash
come from and where did the cash go
period of time - from nov to jan
© 2025 Assignment
lender Ans: lends money with intend to get it
Guru01 - Stuvia
back plus interest. need current income, existing
obligations, existing assets, payroll stub, tax
Expert
return, monthly payments, bank stmts
investor Ans: buys into your company. looks at
if the business is profitable, what they are
buying, buying obligations, potential future
projections
what forms will the manager of a business use
Ans: both financial and managerial
fasb- what does it stand for, who are they and
what do they do Ans: financial accounting
standards board
private group, not govt agency, no legal
authority, conducted of people from a variety of
business related backgrounds.
, 4
establishes financial accounting and reporting
standards for private sector companies
1 of the two boards that make up GAAP
gasb- what does it stand for, who are they, what
do they do Ans: governmental accounting
standards board
© 2025 Assignment
sets accounting and financial reporting
Guru01 - Stuvia
standards for state and legal governments.
Expert
authority over financial reporting by government
entities
1 of the two boards that make up GAAP
gaap Ans: generally accepted accounting
principles
sec Ans: Securities and Exchange Commission
regulates us stock exchange. provides investors
with full and fair information about publicly
traded companies.
legal punishment
