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BUS 100 Week 8 quiz 7


BUS 100 Week 8 quiz 7 The Financial Accounting Standards Board hopes to make the U.S. accounting practices As a _____ you work within an organization, preparing reports and analyzing financial information such as budgets and cost management. _____ accountants provide services such as tax preparation, external auditing, or management consulting to clients on a fee basis. _____ is/are the claims owners have against their firm’s assets. Investors are provided with _____ from the firms whose stock they own. These documents provide additional information about the firm’s practices and operations. What is the accounting equation? _____ provide reports, information, and analysis to managers to assist them with making better informed decisions. The major output of financial accounting is a set of statements including the The _____ budget brings together all of the firm’s budgeting documents to provide a unified plan for the a specific budget period. Bookkeepers encompass the routine procedures involved in reporting information about the financial transactions that affect an organization, while _____ go further by analyzing and interpreting this information and communicating the results to stakeholders. _____ consist(s) of the stocks of goods, materials, parts, and work-in-process that firms hold as part of doing business. Financial planning asks all of the following questions EXCEPT: Capital _____ is the process a firm uses to evaluate long-term investment proposals. _____ are short-term IOUs issued by the U.S. government that mature in 4, 13, or 26 weeks. Financial managers measure the benefits and costs of long-term investment proposals in terms of A _____ is used to predict when a firm will likely experience temporary shortages or surpluses of cash. Equity financing is provided by ____ while debt financing is provided by ____. _____ are companies that provide short-term financing to firms by purchasing accounts receivable at a discount. _____ are short-term, very safe, and highly liquid assets that firms include in the cash holdings they report on their balance sheet. _____ is the functional area of business that is responsible for finding, among many alternatives, the best sources of funds and the best way to use them.


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