Accounting 2037 exam 1 - Mizzou,
Gingrich Latest Exam All Questions
Answered Correct 2025-2026 Updated.
financial accounting users of info - Answer general public
investors
creditors
employees
managers
financial accounting types of info - Answer audited financial statements
-- income, balance, cash flows
other public findings
-- press releases, quarterly updates, managers discussion and analysis
financial accounting purpose of info - Answer to capture company performance
financial accounting rules - Answer GAAP
managerial accounting users of info - Answer managers
employees
managerial accounting types of info - Answer budgets
manufacturing cost reports
financial statements (can be formatted differently to give a different viewpoint on information)
department reports
managerial accounting purpose of info - Answer to help managers make decisions
managerial accounting rules - Answer no GAAP/IRC requirements -- the firm can use
, tax accounting types of info - Answer financial statements prepared under Internal Revenue
Code Statues (tax return)
tax accounting purpose of info - Answer to calculate tax (to fund the government)
tax accounting rules - Answer Internal Revenue Code (IRC) and Regulations
reasons we have different types of accounting - Answer serve different purposes
supply different information
have different users (people who care about info)
manufacturing companies - Answer make what they sell
Apple, Nike, 3M, Hormel Foods
merchandising companies - Answer buy inventory already made
REI, Costco
service companies - Answer sell services
KPMG, UPS, Great Clips
fixed costs - Answer a cost that does not change with production/sales
not dependent on quantity
variable costs - Answer a cost that changes in proportion to production/sales
increase in proportion to the quantity we make/sell
Gingrich Latest Exam All Questions
Answered Correct 2025-2026 Updated.
financial accounting users of info - Answer general public
investors
creditors
employees
managers
financial accounting types of info - Answer audited financial statements
-- income, balance, cash flows
other public findings
-- press releases, quarterly updates, managers discussion and analysis
financial accounting purpose of info - Answer to capture company performance
financial accounting rules - Answer GAAP
managerial accounting users of info - Answer managers
employees
managerial accounting types of info - Answer budgets
manufacturing cost reports
financial statements (can be formatted differently to give a different viewpoint on information)
department reports
managerial accounting purpose of info - Answer to help managers make decisions
managerial accounting rules - Answer no GAAP/IRC requirements -- the firm can use
, tax accounting types of info - Answer financial statements prepared under Internal Revenue
Code Statues (tax return)
tax accounting purpose of info - Answer to calculate tax (to fund the government)
tax accounting rules - Answer Internal Revenue Code (IRC) and Regulations
reasons we have different types of accounting - Answer serve different purposes
supply different information
have different users (people who care about info)
manufacturing companies - Answer make what they sell
Apple, Nike, 3M, Hormel Foods
merchandising companies - Answer buy inventory already made
REI, Costco
service companies - Answer sell services
KPMG, UPS, Great Clips
fixed costs - Answer a cost that does not change with production/sales
not dependent on quantity
variable costs - Answer a cost that changes in proportion to production/sales
increase in proportion to the quantity we make/sell
