Multiple Choice
Not what you're looking for?
Please help with the following problems.
A) Why do annual reports include more than 1 year of the balance sheet and statements of income and cash flows?
Is it...
1) SEC requires only 1 year's data
or...
2) Financial statements for only 1 year would have no reference point for indicating changes in a company's financial record over time.
or...
3) The income statement is for a period of time, as the balance is for a particular date.
or...
4) Information is required as part of an integrated disclosure system adopted by shareholders.
B) In relationship with the statement of cash flows, what type of accounts are notes payable and current maturities of long-term debt?
Is it...
1) Operating accounts
or...
2) Cash accounts
or...
3) Investing accounts
or...
4) Financing accounts
Purchase this Solution
Solution Summary
The solution explains some multiple choice questions in accounting.
Solution Preview
The answer to A is
2) Financial statements for only 1 year would have no reference point for indicating changes in a company's financial record over ...
Purchase this Solution
Free BrainMass Quizzes
Academic Reading and Writing: Critical Thinking
Importance of Critical Thinking
Understanding Management
This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.
Business Ethics Awareness Strategy
This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.
Marketing Research and Forecasting
The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.
Basics of corporate finance
These questions will test you on your knowledge of finance.