Chapter 1 Homework:

Chapter 1 Homework: - policy and carries out day-to-day...

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
Accounting 211 Monday, January 25th, 1999 Announcements: TA Info: Shelley, Office Hours--Wednesday 9:30-12:30, Email--mlh257 Lecture notes: Chapter 1 Homework: Questions: 3. Management accounting involves the internal decision makers who run the business whereas financial accounting generates repots about how the business is running. 5. The decision makers who use accounting information are management, those with direct financial interest, and those with indirect financial interest (everyone involved with running the business). 12. In a corporation, stockholders invest in the stock and then elect a board of directors who determine corporate policy, declare dividends, and appoint management. Management then executes
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 4
Background image of page 5
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: policy and carries out day-to-day operations. 15. Revenues, expenses, and dividends affect retained earnings. An increase in revenues increases retained earnings whereas increases in expenses and dividends causes them to decrease. 18. The income statement shows a business' financial standing over a period of time whereas a balance sheet shows the financial standing at one specific point in time (for period ending / as of). Short Exercises: 2. 1 ) 6 0, 2 ) 3 6, 3 ) 5 0, 4. Stockholder's Equity = $150,000 7. A S S E T S L I A B I L I T I E S S E 1 ) + + N C 2 ) N C N C...
View Full Document

Page1 / 5

Chapter 1 Homework: - policy and carries out day-to-day...

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online