What is accounting?
A. |
An information system that reports corporate governance |
|
B. |
Both of the above |
|
C. |
None of the above |
|
D. |
A measurement system that compares one industry to another |
Answer :- None of the above.
Accounting can defined as per pointer :-
1) Accounting is Process of recording of financial transactions only
2) It records in terms of money only
3) After recording, accounting perform classifying various business trnasaction into catergories
4) After Step 3, accounting process summarises the financial data into more presentable manner.
What is accounting? A. An information system that reports corporate governance B. Both of the above...
Review the website of any country with information on corporate governance. Compare and contrast the corporate governance system of that country with that of the United States.
Of the corporate governance theories, which one of the following is ‘complementary’ to ‘agency theory’? A) Stakeholder theory B) Political theory C) Stewardship theory D) None of the above
Corporate governance a) Should encourage the board of directors to pursue objectives that are in the interests of the society at large. b) Results in increased profitability of an organization. c) Is the system by which an organization is directed and controlled. d) All of the above.
1. Cost accounting system provides: a. Detailed cost information for planning b. Relevant information management of current operations c. Important Information for reporting to investors d. Only (a) and (b) e. None of the above. 2. Cost Information is very useful to: a. Manufacturing organizations b. Service organizations c. Not-for-profit organization d. All of the above e. None of the above
1. Cost accounting system provides: a. Detailed cost information for planning b. Relevant information management of current operations c. Important information for reporting to investors d. Only (a) and (b) e. None of the above.
Scenario: Accounting information provides useful information about business transactions. Those who provide and use financial reports must often select and evaluate accounting alternatives. The FASB statement on qualitative characteristics of accounting information examines the characteristics of accounting information that make it useful for decision-making. It also points out that various limitations inherent in the measurement and reporting process may necessitate trade-offs or sacrifices among characteristics of useful information. Task: In the discussion, explain both characteristics, and give an example of...
Multinational Business Finance 3) When discussing the structure of corporate governance, the authors internal and external factors. is an example of an internal factor an example of an external factor. A) Equity markets; executive management B) Debt markets: board of directors C) Executive management, auditors D) Auditors; regulators 4) Which of the following is NOT commonly associated with a government affiliate of corporate governance regime? A) No minority influence. B) Lack of transparency. C) State ownership of enterprise. D) All...
Which of the following is a difference between managerial and financial accounting? A. Managerial accounting reports non-monetary information whereas financial accounting reports both monetary and non-monetary information. B. Managerial accounting prepares reports monthly whereas financial accounting prepares reports annually. C. Managerial information is confidential whereas financial accounting information is publicly available. D. Managerial accounting is used by government authorities whereas financial accounting is used by stockholders.
a) What is the difference between sustainability reports and traditional financial reports? b) Define ‘externalities’ Are they included in the calculation of accounting profit? c) How does Legitimacy Theory and Stakeholder Theory help to explain corporate managers voluntarily reporting on the social and environmental effects of their business activities? d) Does information in a sustainability report meet the qualities of Relevance and Faithful Representation as identified in the Conceptual Framework?
FRS-financial reporting system MRS management reporting system a. Preparation of balance sheet b. Capture customer sales order c. Preparation of variance reports d. Preparation of budgets e. Purchase order preparation f. Summary of inventory purchases by vendor g. Preparation of comparative sales report by division h. Preparation of cash disbursements to vendors i. Annual report preparation j. Customer billing process k. Cost-volume-profit analysis Exercise 2-4 Identify the appropriate qualitative characteristic(s) to be used given the information provided below. (a) Qualitative...