Below are the questions for an exam review. The book we use is Accounting Principles, Volume 2, Twelwth Edition by Weygandt, Kimmel and Kieso.

Multiple Choice Questions:

1. How to record a short-term debt investment? (what would you debit/ credit)
2. What type of investment companies with excess cash would typically invest in?
3. Historical cost is?
4. A subsidiary is?
5. Influence/ percentages; know what influences are/ the percentage; question about influence. (Influential, significant..)
6. Statement of cash flows is?
7. Primary purpose of cash flows.
8. Effect of a net loss on the statement of cash flows. (what gets reported on it)
9. What gets reported on the statements on cash flows & what does not get reported on the statement of cash flows.
10. Why do we analyze financial statements?
11. Different categories of ratios (liquidity, profitability & solvency)
12. Which of those categories would be most appropriate to use... (someone is concerned about the liquidity of a company (extending credit of a company) WHY WE USE THEM.
13. Difference between vertical analysis, horizontal analysis & ratio analysis.
14. Given information & calculate the percentage change.
15. Managerial accounting is?
16. Who are the users of managerial accounting?
17. Know the types of industries that use managerial accounting
18. Know the features of managerial accounting
19. Know the various managerial functions; what managerial accountants do & what is not a function of managerial accounting (planning, directing & controlling)