Question 1

An account receivable represents

Accepted Answer

A) an asset with long-term use or value,such as land,buildings,and equipment. 
B) an amount due from a customer who has purchased goods on credit. 
C) an expense,such as rent,that is paid before the upcoming period in which it is due. 
D) a nonphysical asset,such as a patent or trademark,that has economic value in the form of expected benefit. 
E) an asset that can or will be converted to cash within the following year. 
A) an asset with long-term use or value,such as land,buildings,and equipment. 
B) an amount due from a customer who has purchased goods on credit. 
C) an expense,such as rent,that is paid before the upcoming period in which it is due. 
D) a nonphysical asset,such as a patent or trademark,that has economic value in the form of expected benefit. 
E) an asset that can or will be converted to cash within the following year.

Question 2

________ call(s)attention to problems and helps managers carry out the planning,decision making,and controlling functions.

Accepted Answer

A) Budgeting 
B) Financial accounting 
C) Auditing 
D) Managerial accounting 
E) Generally accepted accounting principles 
A) Budgeting 
B) Financial accounting 
C) Auditing 
D) Managerial accounting 
E) Generally accepted accounting principles

Question 3

Julie,a recent college graduate,is interested in business and is considering pursuing a career in accounting.Her parents are supportive,with her mother recommending that Julie become a public accountant and her father recommending that she become a private accountant. Which of the following,if true,would support the position that Julie should consider a specialty field in accounting?

Accepted Answer

A) Julie wants to eventually pursue an MBA degree. 
B) Colleges have different policies on whether specialty accounting courses are required. 
C) Julie is interested in financial crimes. 
D) Julie is interested in helping a non-profit organization. 
E) Julie wants to work directly for a private company. 
A) Julie wants to eventually pursue an MBA degree. 
B) Colleges have different policies on whether specialty accounting courses are required. 
C) Julie is interested in financial crimes. 
D) Julie is interested in helping a non-profit organization. 
E) Julie wants to work directly for a private company.

An account receivable represents

________ call(s)attention to problems and helps managers carry out the planning,decision making,and controlling functions.

Understanding the Canadian Business System

The Environment of Business

Conducting Business Ethically and Responsibly

Entrepreneurship,small Business,and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating,satisfying,and Leading Employees

Operations Management,productivity,and Quality

Understanding Marketing Principles and Developing Products

Pricing,promoting,and Distributing Products

Money and Banking

Financial Decisions and Risk Management

Filters

Exam 11: Understanding Accounting

An account receivable represents

________ call(s)attention to problems and helps managers carry out the planning,decision making,and controlling functions.

Understanding the Canadian Business System

The Environment of Business

Conducting Business Ethically and Responsibly

Entrepreneurship,small Business,and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating,satisfying,and Leading Employees

Operations Management,productivity,and Quality

Understanding Marketing Principles and Developing Products

Pricing,promoting,and Distributing Products

Money and Banking

Financial Decisions and Risk Management

Filters