Homework Answers
Answer: Sustainability accounting aims to provide managers a broad set of information to meet the needs of multiple stakeholders.
Explanation:
The Sustainability accounting also known as Social and environmental accounting. The sustainability accounting is also considers as a sub category of the financial accounting that focuses on the reporting to the stakeholders such as Investors, Creditors, and many other stakeholders. Therefore the Sustainability Accounting tool aims to provide managers a broad set of information to meet the needs of multiple stakeholders.
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Which of the following statements is correct about sustainability accounting? Multiple Choice Ο Sustainability accounting is...
Which of the following statements is correct? Multiple Choice An accounting system is suitable for a...
Which of the following statements is correct? Multiple Choice An accounting system is suitable for a firm as long as the system complies with GAAP. When accounting information is used for internal purposes, a company is not required to comply with specific external accounting standards. Managerial accounting information should be as accurate as the technology allows. Financial and managerial accounting are identical, only the users are different.
Which of these following is NOT true regarding generally accepted accounting principles? Multiple choice. Choose one...
Which of these following is NOT true regarding generally accepted accounting principles? Multiple choice. Choose one of the below answers. 1. Include broad principles and conventions of general applications including underlying concepts 2. The GAAP requirement for Private companies is enforceable by the provincial securities commissions. 3. Standards of accounting, a material departure from which may result in a qualified opinion issued by an auditor. 4. Include specific rules, practices and procedures.
Which of the following is not a factor in encouraging high-quality financial reporting? Multiple Choice Ο...
Which of the following is not a factor in encouraging high-quality financial reporting? Multiple Choice Ο All of these are fadors encouraging high-quality financial reporting Ο Internal control systems. Ο Auditors who attest to a company's financial statements. Ο The Sarbanes-Oxley Ad.
Which of the following statements is true for assumption of risk? Multiple Choice Ο It dictates...
Which of the following statements is true for assumption of risk? Multiple Choice Ο It dictates that the person assuming responsibility will have to recover for all people involved in the accident Ο It is not a defense in cases based on reckless behavior Ο It bars the plaintiff's recovery as the plaintiff fully understands the nature and extent of the risk involved Ο It is not a defense in cases based on strict liability
accounting multiple choice Which of the following best describes the advantages of using a predetermined overhead...
accounting multiple choice
Which of the following best describes the advantages of using a predetermined overhead rate? Select one or more: a. Both (a) and (C) above. b. Overhead costs are applied evenly throughout the year rather than fluctuating from month to month. c. Predetermined rates require managers to wait until long after the accounting period to get an estimate of product costs. d. Total unit costs of production are known sooner than using actual overhead rates, and overhead costs...
Which of the following statements is false? Multiple Choice Ο Premiums generated from the issuance of...
Which of the following statements is false? Multiple Choice Ο Premiums generated from the issuance of bonds for a capital projects fund are generally transferred to the Debt Service Fund. Ο taxes are levied specifically for payment of interest and principal on long-term debt, those taxes are recognized as revenues of the Debt Service Fund. Ο O An encumbrance in a capital project fund is created when the contract for the work is signed or issued. Ο Unmatured principal installments...
Item 16 Item 16 Which of the following is true? Multiple Choice Federal securities laws regarding...
Item 16 Item 16 Which of the following is true? Multiple Choice Federal securities laws regarding the issuance of misleading financial statements apply not only to the independent auditors, but to management of the company as well. Attaining a passing score on the part of the Uniform CPA Examination that covers professional ethics is evidence of integrity and commitment to ethical conduct. The existence of generally accepted accounting principles (GAAP) virtually eliminates the need for professional judgment except in very...
Which of the following statements about the receivables turnover analysis is correct? Multiple Choice Accounts receivable...
Which of the following statements about the receivables turnover analysis is correct? Multiple Choice Accounts receivable decline as companies sell on credit. Accounts receivable increase as companies receive payment. Receivables turnover refers to how fast receivables are collected. The days to collect will increase as the receivables turnover increases.
Which of the following statements about the interpretation of the financial statements is not correct? Multiple...
Which of the following statements about the interpretation of the financial statements is not correct? Multiple Choice 0 Interpreting the financial statements can only be performed by auditors. 0 Interpreting the financial statements is the final step in the accounting cycle. 0 To interpret the financial statements means to understand and explain the meaning and importance of information in accounting reports. 0 All of these statements are correct.
Which of the following statements about managerial accountants is false? Multiple Choice In a number of...
Which of the following statements about managerial accountants is false? Multiple Choice In a number of companies, managerial accountants make significant business decisions and resolve operating problems. Managerial accountants more and more are considered "business partners." Managerial accountants often are part of cross-functional teams. The role of managerial accountants has changed considerably over the past decade. An increasing number of organizations are segregating managerial accountants in separate managerial-accounting departments.
Which of the following is not a factor in encouraging high-quality financial reporting? Multiple Choice Ο All of these are fadors encouraging high-quality financial reporting Ο Internal control systems. Ο Auditors who attest to a company's financial statements. Ο The Sarbanes-Oxley Ad.
Which of the following statements is true for assumption of risk? Multiple Choice Ο It dictates that the person assuming responsibility will have to recover for all people involved in the accident Ο It is not a defense in cases based on reckless behavior Ο It bars the plaintiff's recovery as the plaintiff fully understands the nature and extent of the risk involved Ο It is not a defense in cases based on strict liability
accounting multiple choice
Which of the following best describes the advantages of using a predetermined overhead rate? Select one or more: a. Both (a) and (C) above. b. Overhead costs are applied evenly throughout the year rather than fluctuating from month to month. c. Predetermined rates require managers to wait until long after the accounting period to get an estimate of product costs. d. Total unit costs of production are known sooner than using actual overhead rates, and overhead costs...
Which of the following statements is false? Multiple Choice Ο Premiums generated from the issuance of bonds for a capital projects fund are generally transferred to the Debt Service Fund. Ο taxes are levied specifically for payment of interest and principal on long-term debt, those taxes are recognized as revenues of the Debt Service Fund. Ο O An encumbrance in a capital project fund is created when the contract for the work is signed or issued. Ο Unmatured principal installments...
Which of the following statements about the interpretation of the financial statements is not correct? Multiple Choice 0 Interpreting the financial statements can only be performed by auditors. 0 Interpreting the financial statements is the final step in the accounting cycle. 0 To interpret the financial statements means to understand and explain the meaning and importance of information in accounting reports. 0 All of these statements are correct.
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