All of the following are true regarding a high quality balance sheet except:
a. It should portray the economic resources that can be reasonably expected to generate future economic benefits.
b. It should provide a complete and fair portrayal of all of the firm's obligations at a point in time, including the present value of long-term liabilities for future payments.
c. It should minimize measurement error and bias.
d. It should be optimistic in terms of accounting numbers.
D
You might also like to view...
Sweepstakes give consumers a chance to win something, such as cash, trips, or goods, by luck or through extra effort
Indicate whether the statement is true or false
Alfredo Inc. reports net income of $230,000 for the year ended December 31. It also reports $87,700 depreciation expense and a $5,000 gain on the sale of equipment. Its comparative balance sheet reveals a $35,500 decrease in accounts receivable, a $15,750 increase in accounts payable, and a $12,500 decrease in wages payable. Calculate the cash provided (used) in operating activities using the indirect method.
A. $356,450. B. $319,950. C. $351,450. D. $376,450. E. $263,750.
The process by which a personal computer hosts several different operating systems is known as ________.
A. parallel computing B. cloud computing C. PC virtualization D. multiplexing E. normalization
Which of the following statements is true about a competency study?
A. It can be easily related to output. B. It is inexpensive. C. It is characterized by a low involvement. D. It is relatively slow.