ACCT 2000 EXAM 3 LOWE-ARDOIN 2024- 2025 NEWEST
UPDATE WITH COMPLETE QUESTIONS AND
ANSWERS/ALREADY GRADED A+
Financial accounting is an ______ primary user - ANSWER
->external
managerial accounting is a _____ primary user - ANSWER
->internal
report used in financial accounting - ANSWER ->financial
statement
report used in managerial accounting - ANSWER -
>internal reports
frequency of reports in financial accounting - ANSWER -
>monthly, quarterly or annual
frequency of reports in managerial accounting - ANSWER
->as needed
purpose of reports in financial accounting - ANSWER -
>general
, purpose of reports in managerial accounting - ANSWER -
>specific
content of reports in financial accounting - ANSWER -
>highly aggregated
content of reports in managerial accounting - ANSWER -
>very detailed
portion of business covered in financial accounting -
ANSWER ->whole business
portion of business covered in managerial accounting -
ANSWER ->subunit
verification process in financial accounting - ANSWER -
>audited
verification process in managerial accounting - ANSWER -
>not audited
are you required to follow GAAP in financial accounting -
ANSWER ->yes
are you required to follow GAAP in managerial
accounting - ANSWER ->no
UPDATE WITH COMPLETE QUESTIONS AND
ANSWERS/ALREADY GRADED A+
Financial accounting is an ______ primary user - ANSWER
->external
managerial accounting is a _____ primary user - ANSWER
->internal
report used in financial accounting - ANSWER ->financial
statement
report used in managerial accounting - ANSWER -
>internal reports
frequency of reports in financial accounting - ANSWER -
>monthly, quarterly or annual
frequency of reports in managerial accounting - ANSWER
->as needed
purpose of reports in financial accounting - ANSWER -
>general
, purpose of reports in managerial accounting - ANSWER -
>specific
content of reports in financial accounting - ANSWER -
>highly aggregated
content of reports in managerial accounting - ANSWER -
>very detailed
portion of business covered in financial accounting -
ANSWER ->whole business
portion of business covered in managerial accounting -
ANSWER ->subunit
verification process in financial accounting - ANSWER -
>audited
verification process in managerial accounting - ANSWER -
>not audited
are you required to follow GAAP in financial accounting -
ANSWER ->yes
are you required to follow GAAP in managerial
accounting - ANSWER ->no
