Homework Answers
ANSWER : Predicting future cash flows to resource providers .
Accountability , Evaluation of operating results and Assessing the ability to provide future Services are main objectives of Governmental Accounting according to GASB .
But Predicting future cash flows to resource providers is not the main objective of Governmental Accounting according to GASB .
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Which of the following is not one of the main objectives of governmental accounting according to...
9. Which of the following is not one of the GASB's financial reporting objectives? a. Providing...
9. Which of the following is not one of the GASB's financial reporting objectives? a. Providing information on the extent to which interperiod equity is achieved b. Ensuring that budgeted revenues are equal to or exceed budgeted expenses c. Reporting on budgetary compliance d. Providing information on service efforts and accomplishments 10. Which of the following is not one of the FASB's financial reporting objectives? a. Providing information about economic resources, obligations, and net resources b. Providing information to help...
Measurement focus and accrual basis of accounting The economic resources measurement focus and the accrual basis of acc...
Measurement focus and accrual basis of accounting The economic resources measurement focus and the accrual basis of accounting are appropriate for which of the following funds: Select one: o Capital projects fund o Internal service fund O Debt service fund o Special revenue fund Reporting objectives Which of the following is not one of the GASB's reporting objectives? Select one: O Providing assurance that the governmental entity is solvent O Providing information on the extent of the governmental entity's service...
Entities may have a variety of corporate reporting objectives specific to their circumstances, such as: A....
Entities may have a variety of corporate reporting objectives specific to their circumstances, such as: A. Assessing and predicting cash flows; B. Minimizing current income taxes; C. Complying with restrictive covenants (specifically, debt covenants that specify minimum levels of shareholders' equity); D. Evaluating management's performance. Required: For each of the accounting policies listed below, indicate which objectives of corporate reporting are best served. Each policy may serve more than one objective. Accounting Policies Objectives 1. Capitalize and amortize development costs....
QUESTION 17 Financial accounting does not deal with which of the following? Measuring a company's economic...
QUESTION 17 Financial accounting does not deal with which of the following? Measuring a company's economic activity. Providing information to internal users. Preparing financial reports. Communicating financial results to investors. QUESTION 18 Financial accounting objectives do not include providing information: O Useful to investors and creditors in making decisions. To determine market values, assess profit potential, and evaluate management. Helpful to investors in predicting cash flows That tells about a company's economic resources and claims to those resources. QUESTION 19...
Give short answers for the following questions: (15) i. Define ‘Accounting’. ii. Explain the primary objectives...
Give short answers for the following questions: (15) i. Define ‘Accounting’. ii. Explain the primary objectives of accounting. iii. Discuss the limitations of accounting. iv. What types of activities are included in data evaluation? v. Outline the main functions of accounting considering the following groups; Lenders Employees Customers Please suggest information that each one is likely to need from accounting statements and reports.
Which of the following is not a characteristic of management by objectives? Select one: O a....
Which of the following is not a characteristic of management by objectives? Select one: O a. It establishes specific and measurable goals O b. It involves setting goals with employee input O c. It is an opportunity to provide objective feedback to employees O d. The method is robust and equally applicable to all types of jobs
Select the one BEST answer. Remember to transfer your answers to the grid on page 2 1. Under accrual accounting as required by Generally Accepted Accounting Principles, which of the following res...
Select the one BEST answer. Remember to transfer your answers to the grid on page 2 1. Under accrual accounting as required by Generally Accepted Accounting Principles, which of the following results in the recording of revenue for the current period on the Income Statement of a service company? a. A service company receives cash from a bank in exchange for a note payable b. A service company signs an agreement to provide services to a customer in a future...
The accounting records of Princeton Pharmaceuticals, Inc., reveal the following: E (Click the icon to view...
The accounting records of Princeton Pharmaceuticals, Inc., reveal the following: E (Click the icon to view the accounting records.) Requirement Compute cash flows from operating activities by the direct method. Also evaluate Princeton's operating cash flow. Give the reason for your evaluation. Start by completing the cash flows from operating activities. (Use parentheses or a minus sign for numbers to be subtracted, for payments, and for a net decrease in cash.) Cash flows from operating activities: Receipts: Collection of dividend...
1.Which of the following would be an example of an investing activity on the Statement of...
1.Which of the following would be an example of an investing activity on the Statement of Cash Flows? a.issuance of bonds payable b.purchase of bonds as an investment c.issuance of common shares d.collection of rent from tenants 2.Information on a company’s cash flows is used for all of the following, except a.assess the company’s ability to repay debt in the future. b.evaluate the potential for the company to be able to pay dividends in the future. c.evaluate a company’s liquidity...
main role of WHO QUESTION 5 Which of the following is a main role of the...
main role of WHO
QUESTION 5 Which of the following is a main role of the World Health Organization (WHO)? O A To regulate health services across national borders O B To provide funding to support large health initiatives O C.To collect and standardize data D All of these are correct
9. Which of the following is not one of the GASB's financial reporting objectives? a. Providing information on the extent to which interperiod equity is achieved b. Ensuring that budgeted revenues are equal to or exceed budgeted expenses c. Reporting on budgetary compliance d. Providing information on service efforts and accomplishments 10. Which of the following is not one of the FASB's financial reporting objectives? a. Providing information about economic resources, obligations, and net resources b. Providing information to help...
Measurement focus and accrual basis of accounting The economic resources measurement focus and the accrual basis of accounting are appropriate for which of the following funds: Select one: o Capital projects fund o Internal service fund O Debt service fund o Special revenue fund Reporting objectives Which of the following is not one of the GASB's reporting objectives? Select one: O Providing assurance that the governmental entity is solvent O Providing information on the extent of the governmental entity's service...
Entities may have a variety of corporate reporting objectives specific to their circumstances, such as: A. Assessing and predicting cash flows; B. Minimizing current income taxes; C. Complying with restrictive covenants (specifically, debt covenants that specify minimum levels of shareholders' equity); D. Evaluating management's performance. Required: For each of the accounting policies listed below, indicate which objectives of corporate reporting are best served. Each policy may serve more than one objective. Accounting Policies Objectives 1. Capitalize and amortize development costs....
QUESTION 17 Financial accounting does not deal with which of the following? Measuring a company's economic activity. Providing information to internal users. Preparing financial reports. Communicating financial results to investors. QUESTION 18 Financial accounting objectives do not include providing information: O Useful to investors and creditors in making decisions. To determine market values, assess profit potential, and evaluate management. Helpful to investors in predicting cash flows That tells about a company's economic resources and claims to those resources. QUESTION 19...
Which of the following is not a characteristic of management by objectives? Select one: O a. It establishes specific and measurable goals O b. It involves setting goals with employee input O c. It is an opportunity to provide objective feedback to employees O d. The method is robust and equally applicable to all types of jobs
Select the one BEST answer. Remember to transfer your answers to the grid on page 2 1. Under accrual accounting as required by Generally Accepted Accounting Principles, which of the following results in the recording of revenue for the current period on the Income Statement of a service company? a. A service company receives cash from a bank in exchange for a note payable b. A service company signs an agreement to provide services to a customer in a future...
The accounting records of Princeton Pharmaceuticals, Inc., reveal the following: E (Click the icon to view the accounting records.) Requirement Compute cash flows from operating activities by the direct method. Also evaluate Princeton's operating cash flow. Give the reason for your evaluation. Start by completing the cash flows from operating activities. (Use parentheses or a minus sign for numbers to be subtracted, for payments, and for a net decrease in cash.) Cash flows from operating activities: Receipts: Collection of dividend...
main role of WHO
QUESTION 5 Which of the following is a main role of the World Health Organization (WHO)? O A To regulate health services across national borders O B To provide funding to support large health initiatives O C.To collect and standardize data D All of these are correct
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