Which of the following items is NOT included in FASB's conceptual framework of accounting theory?
A) qualities of useful accounting information
B) fundamental principles and assumptions that guide financial accounting and reporting
C) objectives of financial reporting
D) All of these choices are included in the conceptual framework
D
You might also like to view...
After all of the account balances have been extended to the Balance Sheet columns of the work sheet, the totals of the debit and credit columns show debits of $36,678 and the credits of $41,101. This indicates that
A) neither net income or loss can be calculated because it is found on the income statement B) the company has a net loss of $4,423 for the period C) the company has a net income of $4,423 for the period D) The amounts are out of balance and need to be corrected
Scenario 5.2 Use the following to answer the questions. GE Transportation produces locomotive engines for sale in countries around the world. After looking at the total market for locomotive engines, the company found that various rail lines wanted different types of engines. Major rail lines in the U.S. and South America wanted engines to haul heavy freight. Rail lines in Sweden and Germany were interested in a cleaner, greener locomotive engine. Rail lines operated by several Eastern European countries wanted locomotive engines for running short distances between cities in their own country. GE Transportation is currently manufacturing its GE 4400 for heavy freight, its Hybrid Eco-Engine, and its Dash 9, suited for shortline transport. Refer to Scenario 5.2. Suppose that GE
Transportation decided to produce only locomotive engines for rail lines in the United States. The segmentation variable then would be A. geographic location. B. type of organization. C. market density. D. product use. E. customer size.
List five advantages of using outdoor advertising instead of some other advertising medium.
What will be an ideal response?
Employees often have excellent ideas for doing the work better because they
A. are often inclined toward change. B. are good at conceptual skills. C. can change tasks according to their skills. D. see the problems of their jobs.