Homework Answers
Ans 1
True
Ans 2
False
According to the Securities Exchange and Commission (SEC), oil companies are required to report these reserves to investors through supplemental information to the financial statements.2 It is important to note oil still in the ground is not considered an asset until it is extracted and produced. Once the oil is produced, oil companies generally list what isn't sold as products and merchandise inventory.
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Question 12 2 pts Management's stewardship is to provide information about how a company's cash flows...
True or false 1-Management discussion and analysis would be included in the supplementary information to the...
True or false 1-Management discussion and analysis would be included in the supplementary information to the financial statements. 2-Management's stewardship is to provide information about how a company's cash flow cause changes in the company's resources and claim's. 3-The primary purpose of financial reporting is to provide useful and relevant information to the internal stakeholders of the company. 4- "In carrying out their responsibilities as professionals, members should exercise sensitive professional and moral judgments in all their activities". This is...
Question 2 3 pts Which of the following financial statements provides the most information about the...
Question 2 3 pts Which of the following financial statements provides the most information about the company's annual cash flow from operations, investments, and financing/funding activity related to its investments? Statement of (Changes in) Cash Flow Statement of Retained Earnings Balance Sheet Pro forma income statement
1) The cash flow statement's primary purpose is to provide information about the changes in assets,...
1) The cash flow statement's primary purpose is to provide information about the changes in assets, liabilities, and owners' equity of an entity during a period. about the cash receipts and cash payments of an entity during a period. about the entity's ability to meet its obligations and to pay dividends. that is useful in assessing future cash flow prospects. 2) In a period of rising prices, the inventory method which tends to give the lowest reported cost of goods...
Question 12 1 pts A trial balance is prepared directly from a company's general ledger O...
Question 12 1 pts A trial balance is prepared directly from a company's general ledger O True O False Question 13 1 pts When a trial balance balances it means that the ending balances in the various accounts are correct. O True O False
QUESTION 16 The financing activities section of the statement of cash flows includes activities that affect...
QUESTION 16 The financing activities section of the statement of cash flows includes activities that affect current assets and current liabilities. True False QUESTION 17 The statement of cash flows helps users evaluate the company's earnings per share evaluate management decisions predict future net income predict the growth of a company's assets Click Save and Submit to save and submit. Click Save All Answers to save all answers. 3 6 39 10 11 12 13 13 16 17 QUESTIONS Obligations...
Question 12 2 pts Organizational behavior (OB) research has contributed much of what we know about...
Question 12 2 pts Organizational behavior (OB) research has contributed much of what we know about human resources management and contemporary views of motivation, leadership, trust, teamwork, conflict management, and designing organizational structure. O True O False
Details about a company's liabilities should be included in the notes to the financial statements O...
Details about a company's liabilities should be included in the notes to the financial statements O O True False Under the effective - interest method of amortization, the amount of discount amortized each interest period is equal to the O A. total discount divided by the number of interest payments to be made OB. amount of interest expense less the cash paid OC. amount of interest expense plus the cash paid OD. total amount of interest expense divided by the...
Question 1 (1 point) Cash flows from investing activities can relate to the purchase of plant...
Question 1 (1 point) Cash flows from investing activities can relate to the purchase of plant equipment. True False Question 2 (1 point) There are three ways to report the statement of cash flows. True False Question 3 (1 point) Information about cash flows do not influence decision makers in important ways. True False
47. Land costing $125,000 was sold for $355,000 cash. The gain on the sale was reported...
47. Land costing $125,000 was sold for $355,000 cash. The gain on the sale was reported on the income statemen other income. On the statement of cash flows, what amount should be reported as an investing activity from sale of land? A) $155,000 B) $355,000. C) $310,000. D) $230,000 48. In calculating cash flows from operating activities using the indirect method, a loss on the sale of equipment will appear as a(n) A) subtraction from net income. B) addition to...
a company's earnings per share will decrease. Question 20 2 pts Which of the following is...
a company's earnings per share will decrease. Question 20 2 pts Which of the following is considered to be an important economic consequence of incentive compensation plans using stock options? dilution of ownership interests. the current ratio is affected. the effects on the financial statements are costly to quantify. the effect on cash flows Question 21 5 pts
Question 2 3 pts Which of the following financial statements provides the most information about the company's annual cash flow from operations, investments, and financing/funding activity related to its investments? Statement of (Changes in) Cash Flow Statement of Retained Earnings Balance Sheet Pro forma income statement
Question 12 1 pts A trial balance is prepared directly from a company's general ledger O True O False Question 13 1 pts When a trial balance balances it means that the ending balances in the various accounts are correct. O True O False
QUESTION 16 The financing activities section of the statement of cash flows includes activities that affect current assets and current liabilities. True False QUESTION 17 The statement of cash flows helps users evaluate the company's earnings per share evaluate management decisions predict future net income predict the growth of a company's assets Click Save and Submit to save and submit. Click Save All Answers to save all answers. 3 6 39 10 11 12 13 13 16 17 QUESTIONS Obligations...
Question 12 2 pts Organizational behavior (OB) research has contributed much of what we know about human resources management and contemporary views of motivation, leadership, trust, teamwork, conflict management, and designing organizational structure. O True O False
Details about a company's liabilities should be included in the notes to the financial statements O O True False Under the effective - interest method of amortization, the amount of discount amortized each interest period is equal to the O A. total discount divided by the number of interest payments to be made OB. amount of interest expense less the cash paid OC. amount of interest expense plus the cash paid OD. total amount of interest expense divided by the...
Question 1 (1 point) Cash flows from investing activities can relate to the purchase of plant equipment. True False Question 2 (1 point) There are three ways to report the statement of cash flows. True False Question 3 (1 point) Information about cash flows do not influence decision makers in important ways. True False
47. Land costing $125,000 was sold for $355,000 cash. The gain on the sale was reported on the income statemen other income. On the statement of cash flows, what amount should be reported as an investing activity from sale of land? A) $155,000 B) $355,000. C) $310,000. D) $230,000 48. In calculating cash flows from operating activities using the indirect method, a loss on the sale of equipment will appear as a(n) A) subtraction from net income. B) addition to...
a company's earnings per share will decrease. Question 20 2 pts Which of the following is considered to be an important economic consequence of incentive compensation plans using stock options? dilution of ownership interests. the current ratio is affected. the effects on the financial statements are costly to quantify. the effect on cash flows Question 21 5 pts
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