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ACC 561: MANAGERIAL ACCOUNTING FINAL EXAM

Final exam on managerial accounting concepts and applications.

Benjamin Fisher
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ACC 561: MANAGERIAL ACCOUNTING FINAL EXAMACC 561 FINAL EXAM (NEW)Question 1Which of the following is an advantage of corporations relative to partnerships and soleHarder to transferLower taxes.Most common form of organization.Reduced legalliability for investors.Question 2The group of users of accounting information charged with achieving the goals of thebusiness is itscreditors.investors.managers.auditors.Question 3Which of the followingfinancial statementsis concerned with the company at a point intime?Balance sheet.Income statement.Retained Earnings statement.Statement of cash flows.Question 4An income statementpresents the revenues and expenses for a specific period of time.summarizes the changes in retained earnings for a specific period of time.reports the assets, liabilities, and stockholders’ equity at a specific date.reports the changes in assets, liabilities, and stockholders’ equity over a period of time.Question 5The most important information needed to determine if companies can pay their currentobligations is theprojected net income for next year.

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Document Details

University
University of Phoenix
Course
ACC 561
Subject
Accounting

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