Homework Answers
Ans 25 : C. Generate Cash to invest in new capital expenditures and to pay dividends.
Free Cash Flow is obtained by deducting Capital Expenditures from Operating Cash Flows. Balance amount may be reinvested by acquiring Capital Assets or can be paid off as Dividends.
Ans 26 : B. SEC
The Securities and Exchange Commission (SEC) helps to develop Accounting Standards for reporting Financial Information.
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QUESTION 25 Free cash flow provides an indication of a company's ability to O A. generate...
QUESTION 24 The debt to assets ratio is a A. liquidity ratio O B. profitability ratio...
QUESTION 24 The debt to assets ratio is a A. liquidity ratio O B. profitability ratio O C solvency ratio O D. None of the answer choices is correct QUESTION 25 Free cash flow provides an indication of a company's ability to A. generate cash to invest in new capital expenditures @ B. generate cash to pay dividends C. generate cash to invest in new capital expenditures and to pay dividends. D.generate net income QUESTION 26 Which of the following...
QUESTION 26 Which of the following organizations issues accounting standards for countries outside the United States?...
QUESTION 26 Which of the following organizations issues accounting standards for countries outside the United States? A. GAAP OB. SEC OC. FASB O DIASB QUESTION 27 Generally accepted accounting principles A. are sound in theory but rarely used in real life. OB. are accounting rules formulated by the Internal Revenue Service. C. have eliminated all errors in accounting, D. are accounting rules that are recognized as a general guide for financial reporting. QUESTION 28 The agency of the United States...
QUESTION 16 Last year Besset Company's operations provided a negative cash flow, yet the cash shown...
QUESTION 16 Last year Besset Company's operations provided a negative cash flow, yet the cash shown on its balance sheet increased Which of the following statements could explain the increase in cash, assuming the company's financial statements were prepared under generally accepted accounting principles (GAAP)? a. The company repurchased some of its common stock o b. The company dramatically increased its capital expenditures e c. The company retired a large amount of its long-term debt d. The company sold some...
The options to select from are: Solvency Cost Constriant Faithful Representation Relevance Free Cash Flow Securities...
The options to select from are:
Solvency
Cost Constriant
Faithful Representation
Relevance
Free Cash Flow
Securities and Exchange Commission SEC
Current Liabilities
Liquidity
Verfiable
Working Capital
Generally accepted Accounting Principles GAAP
Materiality
Operating Cycle
Match each term or phrase to its description below. Whether an item is large enough to likely influence the decision of an investor or creditor. a ê Constraint that weighs the cost that companies will incur to provide the information against the benefit that financial statement...
Question Completion Status: Which of the following is NOT a part of generally accepted accounting principles?...
Question Completion Status: Which of the following is NOT a part of generally accepted accounting principles? A FASB Accounting Standards Updates B. AICPA Research Analysis OC. CAP Accounting Research Buletins D.APB Opinions QUESTION 11 2.5 points Save Araw A statement of stockholders' equity includes a column for each of the following except A net income Bretained earnings C. Long-term Liabilities D. accumulated other comprehensive income QUESTION 12 1.5 points Save Answer Which organization issues Accounting Standards Updates? A. Financial Accounting...
Which of the following is a benefit of the convergence between US GAAP and IFRS? Group...
Which of the following is a benefit of the convergence between US GAAP and IFRS? Group of answer choices B. All companies now have a choice between different sets of financial reporting standards C. The IASB and FASB use the exact same conceptual framework to generate accounting standards D. All companies will produce financial statements in English A. Increased comparability between financial statements produced in different countries As a result of the convergence efforts since 2007: Group of answer choices...
Slide 8 chapter 01: Accounting in Business Explain generally accepted accounting principles and d...
Slide 8 chapter 01: Accounting in Business Explain generally accepted accounting principles and define and apply several accounting principles Knowledge Check 03 Before we move on, quiz yourself to test your understanding Question 1 of 2 The private-sector organization that is primarily responsible for developing GAAP for use by all U.S. companies is the: O SEC O IASB O FASB O IFRS submit answer& continue Slide 9 chapter 01: Accounting in Business Explain generally accepted accounting principles and define and...
Which statement is FALSE? O A. The most commonly used accounting practices are essentially the same...
Which statement is FALSE? O A. The most commonly used accounting practices are essentially the same under both U.S. Generally Accepted Accounting Principles and International Financial Reporting Standards O B. Interational Financial Reporting Standards are used by most countries around the world. C. For many years, U.S. Generally Accepted Accounting Principles were considered to be the strongest single set of accounting standards in the world OD. U.S. Generally Accepted Accounting Principles are used by many countries around the world. 10...
Question 46 Which of the following accounts is a liability? Accounts Receivable Service Revenue Accounts Payable...
Question 46 Which of the following accounts is a liability? Accounts Receivable Service Revenue Accounts Payable Wages Expense Question 44 Transactions affecting stockholders' equity include capital contributions and payment of liabilities stockholder dividends, earning of revenues, incurrence of expenses, and purchase of supplies on account capital contributions, stockholder dividends, earning of revenues, and incurrence of expenses capital contributions, earning of revenues, incurrence of expenses, and collection of accounts receivable Question 43 Expenses are recorded when cash is paid for services...
Assignment Questions: 1. One of the differences between Managerial Accounting and Financial Accounting is reporting flexibility....
Assignment
Questions:
1.
One of the
differences between Managerial Accounting and Financial Accounting
is reporting flexibility. Financial reporting is restricted by
Generally Accepted Accounting Principles whereas reporting in
Managerial Accounting has fewer rules.
a)
Why is it
permissible to violate Generally Accepted Accounting Principles
when preparing reports used strictly by company
management?
b)
Should external
users always have the same information as internal users?
Explain.
2.
The United States
uses accounting standards developed by the Financial Accounting
Standards Board (FASB)...
QUESTION 24 The debt to assets ratio is a A. liquidity ratio O B. profitability ratio O C solvency ratio O D. None of the answer choices is correct QUESTION 25 Free cash flow provides an indication of a company's ability to A. generate cash to invest in new capital expenditures @ B. generate cash to pay dividends C. generate cash to invest in new capital expenditures and to pay dividends. D.generate net income QUESTION 26 Which of the following...
QUESTION 26 Which of the following organizations issues accounting standards for countries outside the United States? A. GAAP OB. SEC OC. FASB O DIASB QUESTION 27 Generally accepted accounting principles A. are sound in theory but rarely used in real life. OB. are accounting rules formulated by the Internal Revenue Service. C. have eliminated all errors in accounting, D. are accounting rules that are recognized as a general guide for financial reporting. QUESTION 28 The agency of the United States...
QUESTION 16 Last year Besset Company's operations provided a negative cash flow, yet the cash shown on its balance sheet increased Which of the following statements could explain the increase in cash, assuming the company's financial statements were prepared under generally accepted accounting principles (GAAP)? a. The company repurchased some of its common stock o b. The company dramatically increased its capital expenditures e c. The company retired a large amount of its long-term debt d. The company sold some...
The options to select from are:
Solvency
Cost Constriant
Faithful Representation
Relevance
Free Cash Flow
Securities and Exchange Commission SEC
Current Liabilities
Liquidity
Verfiable
Working Capital
Generally accepted Accounting Principles GAAP
Materiality
Operating Cycle
Match each term or phrase to its description below. Whether an item is large enough to likely influence the decision of an investor or creditor. a ê Constraint that weighs the cost that companies will incur to provide the information against the benefit that financial statement...
Question Completion Status: Which of the following is NOT a part of generally accepted accounting principles? A FASB Accounting Standards Updates B. AICPA Research Analysis OC. CAP Accounting Research Buletins D.APB Opinions QUESTION 11 2.5 points Save Araw A statement of stockholders' equity includes a column for each of the following except A net income Bretained earnings C. Long-term Liabilities D. accumulated other comprehensive income QUESTION 12 1.5 points Save Answer Which organization issues Accounting Standards Updates? A. Financial Accounting...
Slide 8 chapter 01: Accounting in Business Explain generally accepted accounting principles and define and apply several accounting principles Knowledge Check 03 Before we move on, quiz yourself to test your understanding Question 1 of 2 The private-sector organization that is primarily responsible for developing GAAP for use by all U.S. companies is the: O SEC O IASB O FASB O IFRS submit answer& continue Slide 9 chapter 01: Accounting in Business Explain generally accepted accounting principles and define and...
Which statement is FALSE? O A. The most commonly used accounting practices are essentially the same under both U.S. Generally Accepted Accounting Principles and International Financial Reporting Standards O B. Interational Financial Reporting Standards are used by most countries around the world. C. For many years, U.S. Generally Accepted Accounting Principles were considered to be the strongest single set of accounting standards in the world OD. U.S. Generally Accepted Accounting Principles are used by many countries around the world. 10...
Question 46 Which of the following accounts is a liability? Accounts Receivable Service Revenue Accounts Payable Wages Expense Question 44 Transactions affecting stockholders' equity include capital contributions and payment of liabilities stockholder dividends, earning of revenues, incurrence of expenses, and purchase of supplies on account capital contributions, stockholder dividends, earning of revenues, and incurrence of expenses capital contributions, earning of revenues, incurrence of expenses, and collection of accounts receivable Question 43 Expenses are recorded when cash is paid for services...
Assignment
Questions:
1.
One of the
differences between Managerial Accounting and Financial Accounting
is reporting flexibility. Financial reporting is restricted by
Generally Accepted Accounting Principles whereas reporting in
Managerial Accounting has fewer rules.
a)
Why is it
permissible to violate Generally Accepted Accounting Principles
when preparing reports used strictly by company
management?
b)
Should external
users always have the same information as internal users?
Explain.
2.
The United States
uses accounting standards developed by the Financial Accounting
Standards Board (FASB)...
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