BUS A200 financial final Exam Questions and verified Answers 2026

BUS A200 financial final
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common stock (beginning CS + earned CS= change in CS), retained earnings
(net income - dividends (temporary account) = RE)



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Accounts reported on cash flow
1 2 Accounts reported on balance sheet
statement



Accounts reported on income Accounts reported on statement of
3 4
statement stockholder's equity



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, Accounting information system that reports on economic
activities and financial condition of a business or
other organization


primary users of financial accounting External users such as investors, lawyers, financial
analysts


primary users of managerial internal users such as managers and employees
accounting


main types of business entities Proprietorship: most common, one owner, one
source of funds, dies with the owner, unlimited
liability
Partnership: minimum of two partners, unlimited
liability
Corporation: more capital, limited liability,
perpetual existence, double taxation


interests of shareholders vs interests Shareholders: dividends, stock value, voting rights
of creditors Creditors: interest, loan repayment, no voting
rights


The accounting equation (main Assets = liabilities + common stock + retained
categories) earnings
Assets = liabilities + stockholder's equity
Assets = claims


Accounts reported on balance sheet assets, liabilities, common stock, retained earnings


Accounts reported on income Revenue (temporary account), expenses
statement (temporary account), net income/loss