Questions from Financial Accounting


Q: What are some of the benefits to obtaining a degree in accounting

What are some of the benefits to obtaining a degree in accounting? What is the difference between a career in public accounting and private accounting? What are some of the traditional careers of acco...

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Q: Discuss the terms relevance and faithful representation as they relate to financial

Discuss the terms relevance and faithful representation as they relate to financial accounting information.

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Q: What are the three components/aspects of relevance? What are

What are the three components/aspects of relevance? What are the three components/aspects of faithful representation?

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Q: What is meant by the term cost effectiveness in financial reporting?

What is meant by the term cost effectiveness in financial reporting?

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Q: Define the four basic assumptions underlying GAAP.

Define the four basic assumptions underlying GAAP.

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Q: Explain what it means to say that an accounting class is not

Explain what it means to say that an accounting class is not the same as a math class.

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Q: Did you know that you can get lots of financial information free

Did you know that you can get lots of financial information free of charge? Go to finance.yahoo.com. Use the quote lookup located on the left side to get financial information about any publicly trade...

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Q: Provide the basic definition for each of the account types: assets

Provide the basic definition for each of the account types: assets, liabilities, stockholders’ equity, dividends, revenues, and expenses.

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Q: What are the major advantages and disadvantages of each of the legal

What are the major advantages and disadvantages of each of the legal forms of business organizations?

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Q: What are the four primary financial statements? What basic information is

What are the four primary financial statements? What basic information is shown on each?

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