Wk 1 Practice Topic 2
Which of the following financial statements reports the amount of cash collected and paid out by a company
Statement of cash flows
Which of the following is NOT one of the three primary financial statements
Statement of retained earnings
Which of the following financial statements reports a company's resources, obligations, and owner's equity
Balance sheet
Which of the following is an important aspect of management accounting
Controlling cost
The area of accounting that is concerned with providing information for external users is referred to as
Financial accounting
Which of the following financial statements reports the excess of a company's revenues over its expenses
Income statement
The emphasis in financial accounting is on which of the following external user group
Investors and creditors
Internal reports are generally used by
Management
Which of the following groups is an internal user of financial information
Management
The primary internal group that uses accounting information is
management