Finance Final

Question 1

Who would be the right contact person if a vendor is trying to follow up with their payment request?

Answer 1

Accounts Payable

Question 2

Which of the following events occur first in an Accounts Payable cycle?

Answer 2

Credit application is sent to vendor to open up an account

Question 3

In which of the following financial statement will you find loans and mortgage balances?

Answer 3

Balance sheet

Question 4

When capturing construction costs into a financial statement, what is the key difference between a general contractor’s and a developer’s financial statements?

Answer 4

General contractors track costs in their income statements, and developers track construction costs in their balance sheets.

Question 5

5. Which of the following items is not typically included in the package sent from the project accountant to project manger