Homework Answers
The answer to Que 4 is (a) i.e. the information system that identifies, records and communicates the economic events of an organization to interested users.
The answer to Que 5 is (d) i.e. investors in common stock
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4. Multiple Choice Question 61 Which...
15. Consider the multiple-step income statement: The multiple-step income statement shows the following line items EXCEPT:...
15. Consider the multiple-step income statement: The multiple-step income statement shows the following line items EXCEPT: A) net income. B) net sales. C) cost of goods sold. D) gross profit/ gross margin. E) All of the above are shown on a multiple-step income statement. 16. Which of the following is the most appropriate and modern definition of accounting/accounting information system? A) Electronic collection, organization, and communication of vast amounts of information B) The interconnected network of subsystems necessary to operate...
answer each question with an explnation of each answer please 6. Multiple Choice Question 73 Which...
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6. Multiple Choice Question 73 Which of the following statements concerning users of accounting information is incorrect? b. a. Regulatory authorities are considered internal users. Taxing authorities are considered external users. Present creditors are considered external users. Management is considered an internal user c. d. Answer: 7. Multiple Choice Question 80 Issuing shares of stock in exchange for cash is an example of a(n) I investing activity operating activity financing...
answer each question with an explnation of each answer please 12. Multiple Choice Question 121 Finney...
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12. Multiple Choice Question 121 Finney Company began the year by issuing $80000 of common stock for cash. The company recorded revenues of $740000, expenses of $640000, and paid dividends of $40000. What was Finney's net income for the year? b. $60000 $140000 $100000 $180000 c. d. Answer: 13. Multiple Choice Question 125 A balance sheet shows b. revenues, expenses, and dividends. assets, liabilities, and stockholders' equity. revenues, liabilities, and...
answer each question with an explnation of each answer please the rest of question 11 9....
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the rest of question 11
9. Multiple Choice Question 102 Which of the following statements is true? a. Amounts received from issuing stock are revenues. b. Amounts received from issued stock are reported on the income statement. Amounts paid out as dividends are not expenses. Amounts paid out as dividends are reported on the income statement. C. d. Answer: 10. Multiple Choice Question 112 An income statement I reports the...
Internal users of financial information for making decisions include: Multiple choice question. investors bankers managers creditors
Internal users of financial information for making decisions include: Multiple choice question. investors bankers managers creditors
1) The New York Stock Exchange requires all listed companies to: Multiple Choice a. Use IFRS...
1) The New York Stock Exchange requires all listed companies to: Multiple Choice a. Use IFRS (International Financial Reporting Standards) for financial statement reporting purposes. b. Maintain an internal audit function. c. Register with the PCAOB (Public Company Accounting Oversight Board). d. Send financial statements directly to investors, creditors, and other users of financial information. 2. Investors may be described as: Multiple Choice a. Individuals and enterprises that have ownership interest in a reporting entity. b. Individuals and enterprises that...
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1)...
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Objectives of financial reporting to external investors and creditors include preparing information about all of the following except: (A) Information used to determine which products to produce. B) Information about economic resources, claims to those resources, and changes in both resources and claims. C) Information that is useful in making investment and credit decisions. D) Information that is useful in assessing the amount, timing,...
Multiple Choice Questions. Identify the choice that best completes the statement or answers the question The...
Multiple Choice Questions. Identify the choice that best completes the statement or answers the question The executive who is in charge of the IS function and works with the chief executive officer and other senior executives is the a. CFO b. CISO c. CIO d. CEO e. CISCO All of the following are reasons for the difficulty managing the IS function except: a. Information systems are very expensive to acquire b. IS staff do not typically have advanced academic degrees...
a 10 question multiple choice test has 4 possible answer for each question
a 10 question multiple choice test has 4 possible answer for each question. A student selects at least 6 correct answers.Find probability of this event:(multiple choice)A) .118B) .995C) .068D) .571
answer each question with an explanation of each answer please the rest of question 3 1....
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1. Multiple Choice Question 43 The partnership form of business organization a. b. has limited liability. is a separate legal entity. is a common form of organization for service-type businesses. enjoys an unlimited life. c. d. Answer: 2. Multiple Choice Question 48 An advantage of the corporate form of business is that b. it is simple to establish its owner's personal resources are at stake....
15. Consider the multiple-step income statement: The multiple-step income statement shows the following line items EXCEPT: A) net income. B) net sales. C) cost of goods sold. D) gross profit/ gross margin. E) All of the above are shown on a multiple-step income statement. 16. Which of the following is the most appropriate and modern definition of accounting/accounting information system? A) Electronic collection, organization, and communication of vast amounts of information B) The interconnected network of subsystems necessary to operate...
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6. Multiple Choice Question 73 Which of the following statements concerning users of accounting information is incorrect? b. a. Regulatory authorities are considered internal users. Taxing authorities are considered external users. Present creditors are considered external users. Management is considered an internal user c. d. Answer: 7. Multiple Choice Question 80 Issuing shares of stock in exchange for cash is an example of a(n) I investing activity operating activity financing...
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please
12. Multiple Choice Question 121 Finney Company began the year by issuing $80000 of common stock for cash. The company recorded revenues of $740000, expenses of $640000, and paid dividends of $40000. What was Finney's net income for the year? b. $60000 $140000 $100000 $180000 c. d. Answer: 13. Multiple Choice Question 125 A balance sheet shows b. revenues, expenses, and dividends. assets, liabilities, and stockholders' equity. revenues, liabilities, and...
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the rest of question 11
9. Multiple Choice Question 102 Which of the following statements is true? a. Amounts received from issuing stock are revenues. b. Amounts received from issued stock are reported on the income statement. Amounts paid out as dividends are not expenses. Amounts paid out as dividends are reported on the income statement. C. d. Answer: 10. Multiple Choice Question 112 An income statement I reports the...
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Objectives of financial reporting to external investors and creditors include preparing information about all of the following except: (A) Information used to determine which products to produce. B) Information about economic resources, claims to those resources, and changes in both resources and claims. C) Information that is useful in making investment and credit decisions. D) Information that is useful in assessing the amount, timing,...
Multiple Choice Questions. Identify the choice that best completes the statement or answers the question The executive who is in charge of the IS function and works with the chief executive officer and other senior executives is the a. CFO b. CISO c. CIO d. CEO e. CISCO All of the following are reasons for the difficulty managing the IS function except: a. Information systems are very expensive to acquire b. IS staff do not typically have advanced academic degrees...
answer each question with an explanation of each answer
please
the rest of question 3
1. Multiple Choice Question 43 The partnership form of business organization a. b. has limited liability. is a separate legal entity. is a common form of organization for service-type businesses. enjoys an unlimited life. c. d. Answer: 2. Multiple Choice Question 48 An advantage of the corporate form of business is that b. it is simple to establish its owner's personal resources are at stake....
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