CH 8 - CH 8 What is the name for the type of accounting...

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What is the name for the type of accounting which delivers the necessary information so that internal stakeholders (i.e. the employees) can make meaningful decisions to effectively operate the business? Type:Multiple Choice Points awarded:1.00 / 1.00 Your Answer(s): managerial What is the resource intended to provide stakeholders of specific hospitality business segments (such as lodging, restaurants, and private clubs) with the means to make meaningful comparisons intended to enhance decision making because the operating data are consistently collected and reported known as? Type:Multiple Choice Points awarded:1.00 / 1.00 Your Answer(s): a uniform system of accounts With accrual-basis accounting, just because your current assets are high, you still might not have enough cash on hand to pay your upcoming bills/debts – the ___________ lets you take a better look at these sorts of issues so that spending plans can be adjusted and/or loans secured etc. Type:Multiple Choice Points awarded:1.00 / 1.00 Your Answer(s): statement of cash flows According to Module 8, what are debts that must be repaid within the next year known as? Type:Multiple Choice Points awarded:1.00 / 1.00 Your Answer(s): current liabilities Which of the following is an example of a long term liability? Type:Multiple Choice Points awarded:1.00 / 1.00 Your Answer(s): mortgage According to Module 8, the line on an income statement which includes all expenses directly related to making/providing the products a business sells is called Type:Multiple Choice Points awarded:1.00 / 1.00 Your Answer(s): cost of good sold According to Module 8, which financial statement would best show various stakeholders the current financial position, the current value of a business, and, especially when it can be compared to previous results, whether the value of the business is growing or shrinking? Type:Multiple Choice
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This note was uploaded on 05/04/2010 for the course HB 100 taught by Professor Donhue during the Spring '08 term at Michigan State University.

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CH 8 - CH 8 What is the name for the type of accounting...

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