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