The focus of accounting regulation is on:
a. mandatory reporting.
b. improving the quality of reported information.
c. standards overload.
d. underproduction of accounting information.
ANSWER: B
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Treetop Company paid off a $100,000 two-year note payable. The effect of this transaction is that the
a. earnings per share increased b. current ratio decreased c. debt-to-equity ratio increased d. debt-to-equity ratio decreased
Retailers employ about 10% of the American workforce
Indicate whether the statement is true or false
Good captions are what guide readers not only to see but also to ________________
a. accept b. question c. understand d. enjoy
Which of the following will terminate an agency coupled with an interest?
a. The death of the principal. b. The bankruptcy of the principal. c. The incapacity of the principal. d. None of these will terminate such an agency.