Management Discussuion
Regulation S-X covers Financial statements, Foot notes , Auditor's report
Regulation S-X presents the rules for preparing all of the following except Multiple Choice O financial...
Which of the following statements regarding Management's Discussion and Analysis is true? Multiple Choice A) MD&A is required only for Proprietary Fund Financial Statements. B) MD&A is reported in the statistical section of the annual report. C) MD&A is required for comprehensive annual financial reports. D) MD&A for state and local government financial statements must include an analysis of potential, untapped revenue sources. E) MD&A is an optional inclusion for state and local government financial statements.
Management accountants must satisfy their users therefore, they should do all the following except Multiple Choice o provide specialized information that specific managers can use. 0 O provide them with high quality information 0 focus on preparing information for external financial reporting. Bowly O continuously strive to provide better quality information foster, and at a lower cost 0 < Prex 7 of 20 Next > > x N] 0 W 2 3 4 5 6 7 8 9 0
nternal controls are crucial to global companies because of all of the following risks except: Multiple Choice Possible misstatement of financial information. Possible fraud. Controls are significantly different across the globe. Additional costs of inefficient operations. Management's inability to certify the effectiveness of the controls.
Management of an organization has the responsibility for all of the following except A. preparing financial statements and disclosures B.designing and assessing internal controls over financial reporting C. applying accounting principles used in financial reporting D. hiring an external auditor
Employees demand financial information for all of the following except: Multiple Choice Monitoring union contracts that link negotiated wage increases to company financial performance. Monitoring the health of company pension plans. Monitoring profit sharing and stock ownership plans. Monitoring how much the senior executives earn.
The notes to the financial statements: 1. 2. The notes to the financial statements: Multiple Choice eBook . should be referred to if more than a cursory, and perhaps misleading impression of a firm's financial position and its results of operations is to be achieved. O are not an integral part of the financial statements. 0 include a great deal of detailed information that is potentially useful only to a financial analyst making a detailed appraisal of the future prospects...
A person who is looking at a company's financial statements cannot determine whether the: Multiple Choice company's earnings are rising or falling. company pays a dividend. O company's owners are financially secure. company has positive cash flow. Which of the following statements about adjustments is incorrect? Multiple Choice Adjustments help the financial statements present the economic resources that the company owns and owes at the end of the period. Adjusting entries are intended to change the operating results to reflect...
All of the following are arguments to have less antitrust enforcement except for Multiple Choice O Global competitors put pressure on industries O Companies become large because compe consumer demand. Ο οισοροίου ο Oligopolies can lead to less output and higher There is always a chance that new innovators will replace oligopoly
All of the following are features of managerial accounting except Multiple Choice information is characterized by objectivity, reliability, consistency, and accuracy. information is reported continuously with a present or future orientation information includes economic and non-financial data as well as financial data. information is provided primarily to insiders such as managers
An audit engagement letter consists of the all the following except: a. Tentative dates of the audit engagement b. Names and dates of financial statements to be audited c. Reference to auditing standards governing the performance of the audit d.The form and content of the auditor's report