• Question 1 The Financial Accounting Standards Board hopes to make the U.S. accounting practices • Question 2 As a _____ you work within an organization, preparing reports and analyzing

• Question 1 The Financial Accounting Standards Board hopes to make the U.S. accounting practices • Question 2 As a _____ you work within an organization, preparing reports and analyzing financial information such as budgets and cost management. • Question 3 _____ accountants provide services such as tax preparation, external auditing, or management consulting to clients on a fee basis. • Question 4 _____ is/are the claims owners have against their firm’s assets. • Question 5 Investors are provided with _____ from the firms whose stock they own.  These documents provide additional information about the firm’s practices and operations. • Question 6 is the accounting equation? • Question 7 _____ provide reports, information, and analysis to managers to assist them with making better informed decisions. • Question 8 The major output of financial accounting is a set of statements including the • Question 9 The _____ budget brings together all of the firm’s budgeting documents to provide a unified plan for the a specific budget period. • Question 10 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. • Question 11 _____ consist(s) of the stocks of goods, materials, parts, and work-in-process that firms hold as part of doing business. • Question 12 Financial planning asks all of the following questions EXCEPT: • Question 13 Capital _____ is the process a firm uses to evaluate long-term investment proposals. • Question 14 _____ are short-term IOUs issued by the U.S. government that mature in 4, 13, or 26 weeks. • Question 15 Financial managers measure the benefits and costs of long-term investment proposals in terms of • Question 16 A _____ is used to predict when a firm will likely experience temporary shortages or surpluses of cash. • Question 17 Equity financing is provided by ____ while debt financing is provided by ____. • Question 18 _____ are companies that provide short-term financing to firms by purchasing accounts receivable at a discount. • Question 19 _____ are short-term, very safe, and highly liquid assets that firms include in the cash holdings they report on their balance sheet. • Question 20 _____ 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.