![]() ![]() Frenkel defect is usually favoured by a very small difference in the size of cation and anion.The statement(s) regarding defects in solids is (are) Increased availability and capacity of computers.ġ.The lack of objective evidence to permit verification of cost data.The balance sheet item that represents the resources invested by the owner is:ġ0.Ěrguments that the cost principle is not a satisfactory basis for the valuation of assets in financial statements are usually based on: Something owned by a business that has a ready market value.ĩ.An economic resource representing cash or the right to receive cash in the near future.An economic resource owned by a business and expected to benefit future operations.Something with physical form that is valued at cost in the accounting records. ![]() The nature of an asset is best described as: Be tailored to the specific needs of an individual decision maker.Ĩ.View the entire organization as the reporting entity.Focus upon the operation results of the most recently completed accounting period.Be used by decision makers outside of the business organization.Notes containing additional information that is useful in interpreting the financial statements.ħ.In comparison with a financial statement prepared in conformity with generally accepted accounting principles, a managerial accounting report is more likely to:.Statement of projected cash flows for 2000.Income statement for the year ended December 31, 1999.Information may be tailored to assist in specific managerial decisions.Ħ.A complete set of financial statements for Hartman Company, at December 31, 1999, would include each of the following, except:.Information must be developed in conformity with generally accepted accounting principles or with income tax regulations.Its purpose is to assist managers in planning and controlling business operations.Reports are used primarily by insiders rather than by persons outside of the business entity.Government agencies such as the Internal Revenue Service.ĥ.All of the following are characteristics of managerial accounting, except:. ![]() Although accounting information is used by a wide variety of external parties, financial reporting is primarily directed toward the information needs of:
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |