Profits can be defined as an accounting measure of performance during a specific period of time....
Profits can be defined as an accounting measure of performance during a specific period of time.
True
False
Homework Answers
The statement is true because profit can be affected by the accounting policies such as those of depreciation or revenue recognition. Therefore there can be several manipulations made to make the profit look better. This limits it to being only and accounting measure and not an economic measure or a measure that may reflect the true and fair view of the company such as the cashflows.
It is a measure of performance because it is calculated for a given period of time and it tells how well has the company managed its sales, costs and indirect expenses during this period.
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Profits can be defined as an accounting measure of performance
during a specific period of time....
1. If total assets increased by $175,000 during a specific period and liabilities decreased by $10,000...
1. If total assets increased by $175,000 during a specific period and liabilities decreased by $10,000 during the same period, the period's change in total owner's equity was a $185,000 increase. True or False 2. Drawings are an example of an expense. True or False
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Under the accrual basis of accounting, the expense for uncollectible accounts is only recorded when specific accounts are actually written off. true or false When the accrual basis of accounting is used, expenses are recognized only in the period during which they are paid. true or false Under the accrual basis of accounting, only income that has been earned appears on the income statement. true or false
True or False 11) Accounting profits is the most relevant variable the financial manager uses to...
True or False 11) Accounting profits is the most relevant variable the financial manager uses to measure returns. 12) Cash flows is the most relevant variable to measure the returns on debt instruments, while GAAP net income is the most relevant variable to measure the returns on common stock. 13) The expected rate of return from an investment is equal to the expected cash flows divided by the initial investment. 14) Actual returns are always less than expected returns because...
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3. Budgets are used to verify the performance of managers and to motivate them. True or...
3. Budgets are used to verify the performance of managers and to motivate them. True or False 4. A cash budget includes cash receipts, cash disbursements and expected cash balances for specific period of time. True or False
Question 5 10 pts Time period assumption refers to breaking the long life of a company...
Question 5 10 pts Time period assumption refers to breaking the long life of a company into shorter periods to measure the financial position of the company in a timely manner. True O False Question 6 10 pts Supplies expense is the cost of supplies used during the period. True False Question 7 10 pts Utilities expense is the cost of power, heat, light. Internet, and telephone for the period. True O False
2. Describe the difference between accounting and economic profits. Which measure is gener- ally larger? Why? 2. D...
2. Describe the difference between accounting and economic profits. Which measure is gener- ally larger? Why?
2. Describe the difference between accounting and economic profits. Which measure is gener- ally larger? Why?
True or False (6) The proportion of demands that are met from stock during lead time can be defined as type I service level, or "fill rate". In (Q, R) model, we monitor the inventory peri...
True or False
(6) The proportion of demands that are met from stock during lead time can be defined as type I service level, or "fill rate". In (Q, R) model, we monitor the inventory periodically. (7)() (8) () Critical Ratio scheduling rule can minimize the mean flow time of the jobs.
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True or False: One problem associated with using accounting measures to evaluate divisional performance is the...
True or False: One problem associated with using accounting measures to evaluate divisional performance is the measures are based on historical information. True or False: The use of residual income reduces, but does not eliminate, the suboptimization problem. True or False: A problem with ratio-based measures is that managers can make decisions that improve divisional income but lower organizational performance. True or False: Treating research and development costs as an expense rather than a long-term asset may reduce a manager's...
2. Describe the difference between accounting and economic profits. Which measure is gener- ally larger? Why?
2. Describe the difference between accounting and economic profits. Which measure is gener- ally larger? Why?
Question 5 10 pts Time period assumption refers to breaking the long life of a company into shorter periods to measure the financial position of the company in a timely manner. True O False Question 6 10 pts Supplies expense is the cost of supplies used during the period. True False Question 7 10 pts Utilities expense is the cost of power, heat, light. Internet, and telephone for the period. True O False
2. Describe the difference between accounting and economic profits. Which measure is gener- ally larger? Why?
2. Describe the difference between accounting and economic profits. Which measure is gener- ally larger? Why?
True or False
(6) The proportion of demands that are met from stock during lead time can be defined as type I service level, or "fill rate". In (Q, R) model, we monitor the inventory periodically. (7)() (8) () Critical Ratio scheduling rule can minimize the mean flow time of the jobs.
(6) The proportion of demands that are met from stock during lead time can be defined as type I service level, or "fill rate". In (Q, R) model,...
2. Describe the difference between accounting and economic profits. Which measure is gener- ally larger? Why?
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