Homework Answers
Option '5' is correct
Both a and c are correct
Tax payers and Bond rating Agencies.
The Major external users of Government financial reports include
Tax payers, Potential donors, bond rating agencies, and grant providing organizations.
Users might the financial reports to determine the likelihood of repaying the debt (both short term and long term) Government has utilized the resources subject to the restrictions of use of resources.
Add Answer to:
the major external ushers of governmental financial reports
include? a) taxpayers b) stockholders
Question 15 (2...
Question 4 (2 points)E hich of the following is true of managerial accounting? The primary users...
Question 4 (2 points)E hich of the following is true of managerial accounting? The primary users of managerial accounting reports are external users Managerial accounting reports are internat reports issued as frequently as the need arises . The purpose of managerial accounting reports is to provide general purpose financial information for all users. Managerial accounting reports must be prepared according to GAAP Save Question 5 12 points B Which of the following is true of managerial accounting? The primary users...
1. Major financial reports include the balance sheet (BS) and the income statement (IS). Which of...
1. Major financial reports include the balance sheet (BS) and the income statement (IS). Which of the following depicts the nature of these statements as to whether it relates to a point in time, or a period of time (such as a quarter or year? Point in time Period of time a BS IS b IS BS c BS,IS neither d neither BS,IS Group of answer choices a. d b. b c. a d. c 2. Benefits of operating budgets...
Which of the following is NOT true? A. The financial statement which reports information helpful in...
Which of the following is NOT true? A. The financial statement which reports information helpful in calculating the current ratio would be the balance sheet. B. A gain on the sale of land is included in net income from operations in a multi-step income statement. C. The governmental agency that has broad powers to prescribe accounting practices to public companies that trade on the major stock exchanges is the Securities Exchange Commission. D. Current assets will be typically be converted...
question #3 and #4 3. The primary objective of financial accounting is to: A. Monitor and...
question #3 and #4
3. The primary objective of financial accounting is to: A. Monitor and control company activities B.Serve the decision-making needs of internal users. C.Provide financial statements to help external users analyze and interpret an entity's activities D.Provide information on both the costs and benefits of managing products and services. 4. Which of the following financial statements cover a period of time (as opposed to representing a point in time)? (1) Income Statement (2) Statement of Changes in...
QUESTION 15 Match the following terms with the appropriate definition. a. Financial accounting b. Ethics C....
QUESTION 15 Match the following terms with the appropriate definition. a. Financial accounting b. Ethics C. Recordkeeping d. Internal users e. Accounting f. Certifled Public Accountant (CPA) g. Fraud triangle h. Managerial accounting I. External users 1. An information and measurement system that identifies, records and communicates relevant reliable and comparable Information about an organization's business activities. 2. The part of accounting that involves recording transactions and events, either electronically or manually. 3. Persons using accounting information who are not...
corea) 6:56pm 2 Instructions Question 1 The purposes of financial statement analysis include all of the...
corea) 6:56pm 2 Instructions Question 1 The purposes of financial statement analysis include all of the flow Providing information to improve ciency and there Providing information for managing and operating the Helping external users ses performance. Helping the board of director monitoramento Assuring that the company will not be the Question 2 External users of financial information Are those individuale Servitivity analysis Vertical ways Question 6 The measurement of key relations among financial statemente Financial reporting Horizontalis Investment analysis Ratio...
L01-3 EXERCISE 1.3 What Is Financial Reporting? A major focus of this course is the process...
L01-3 EXERCISE 1.3 What Is Financial Reporting? A major focus of this course is the process of financial reporting. a. What is meant by the term financial reporting? b. What are the principal accounting reports involved in the financial reporting process? In general terms, what is the purpose of these reports? c. Do all business entities engage in financial reporting? Explain. d. How does society benefit from the financial reporting process? LO1-5 EXERCISE 1.4 Generally Accepted Accounting Principles Generally accepted...
Question 3 2 pts The ability to provide financial rewards sufficient to attract and retain financing...
Question 3 2 pts The ability to provide financial rewards sufficient to attract and retain financing is called: O Liquidity and efficiency Solvency Profitability. O Market prospects. Creditworthiness. 2pts tion 4 and performance across time is known as Question 2 2 pts External users of financial information: OAre those individuals involved in managing and operating the company Include internal auditors and managers. Are not directly involved in operating the company O Make strategic decisions for a company OMake operating decisions...
Kohler Corporation reports the following components of stockholders' equity on December 31, 2016 $ Common stock-$15...
Kohler Corporation reports the following components of stockholders' equity on December 31, 2016 $ Common stock-$15 par value, 100,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 750,000 80,000 480,000 1,230,000 $ In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 1Purchased 4,500 shares of its own stock at $20 cash per share. Jan. 5 Directors declared a $4 per share cash dividend payable...
Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$15 par...
Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$15 par value, 180,0e0 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 675,000 80,000 400,000 $1,155,000 Total stockholders' equity ed During 2019, the following transactions affected its stockholders' equity accounts. 2 Purchased 5,000 shares of its own stock at $15 cash per share. 5 Directors declared a $4 per share cash dividend payable on February...
Question 4 (2 points)E hich of the following is true of managerial accounting? The primary users of managerial accounting reports are external users Managerial accounting reports are internat reports issued as frequently as the need arises . The purpose of managerial accounting reports is to provide general purpose financial information for all users. Managerial accounting reports must be prepared according to GAAP Save Question 5 12 points B Which of the following is true of managerial accounting? The primary users...
question #3 and #4
3. The primary objective of financial accounting is to: A. Monitor and control company activities B.Serve the decision-making needs of internal users. C.Provide financial statements to help external users analyze and interpret an entity's activities D.Provide information on both the costs and benefits of managing products and services. 4. Which of the following financial statements cover a period of time (as opposed to representing a point in time)? (1) Income Statement (2) Statement of Changes in...
QUESTION 15 Match the following terms with the appropriate definition. a. Financial accounting b. Ethics C. Recordkeeping d. Internal users e. Accounting f. Certifled Public Accountant (CPA) g. Fraud triangle h. Managerial accounting I. External users 1. An information and measurement system that identifies, records and communicates relevant reliable and comparable Information about an organization's business activities. 2. The part of accounting that involves recording transactions and events, either electronically or manually. 3. Persons using accounting information who are not...
corea) 6:56pm 2 Instructions Question 1 The purposes of financial statement analysis include all of the flow Providing information to improve ciency and there Providing information for managing and operating the Helping external users ses performance. Helping the board of director monitoramento Assuring that the company will not be the Question 2 External users of financial information Are those individuale Servitivity analysis Vertical ways Question 6 The measurement of key relations among financial statemente Financial reporting Horizontalis Investment analysis Ratio...
L01-3 EXERCISE 1.3 What Is Financial Reporting? A major focus of this course is the process of financial reporting. a. What is meant by the term financial reporting? b. What are the principal accounting reports involved in the financial reporting process? In general terms, what is the purpose of these reports? c. Do all business entities engage in financial reporting? Explain. d. How does society benefit from the financial reporting process? LO1-5 EXERCISE 1.4 Generally Accepted Accounting Principles Generally accepted...
Question 3 2 pts The ability to provide financial rewards sufficient to attract and retain financing is called: O Liquidity and efficiency Solvency Profitability. O Market prospects. Creditworthiness. 2pts tion 4 and performance across time is known as Question 2 2 pts External users of financial information: OAre those individuals involved in managing and operating the company Include internal auditors and managers. Are not directly involved in operating the company O Make strategic decisions for a company OMake operating decisions...
Kohler Corporation reports the following components of stockholders' equity on December 31, 2016 $ Common stock-$15 par value, 100,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 750,000 80,000 480,000 1,230,000 $ In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 1Purchased 4,500 shares of its own stock at $20 cash per share. Jan. 5 Directors declared a $4 per share cash dividend payable...
Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$15 par value, 180,0e0 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 675,000 80,000 400,000 $1,155,000 Total stockholders' equity ed During 2019, the following transactions affected its stockholders' equity accounts. 2 Purchased 5,000 shares of its own stock at $15 cash per share. 5 Directors declared a $4 per share cash dividend payable on February...
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