______________ is the purposeful intervention in the process of reporting income numbers with the objective of dampening the fluctuations of those numbers around their trend.
a. Stakeholder management
b. Income smoothing
c. Cookie jar accounting
d. Off-shore financing
b. Income smoothing
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Deacon Company purchased equipment last year for $30,000 . The equipment has an estimated useful life of five years. What amount will appear on the income statement for depreciation expense for the month of March 2014?
a. $0 b. $500 c. $6,000 d. $30,000
The distribution strategy during the decline stage of PLC involves building more intensive distribution networks
Indicate whether the statement is true or false
Which of the following is NOT one of the steps in the risk management process?
A. Risk assessment B. Risk identification C. Risk response development D. Risk response control E. Risk tracking
The time period assumption is necessary because:
A) inflation exists and causes confusing swings in financial statement amounts over time. B) external users of financial statements want accurately-reported net income for a specific period of time. C) financial statements users expect full disclosure of all events throughout the entire time period translated in dollars. D) it is required by the federal government.