Which of the following best describes accounting?
a. can be thought of as the "language of business"
b. relies upon concepts and principles that are independent of specific user needs
c. records economic data but does not communicate the data to users
d. is of limited or little use to individuals outside of the business
a
You might also like to view...
Failure to record the supplies used during the year would result in which of the following?
A) Net income being understated B) An overstatement of liabilities C) Assets and Stockholders' equity being overstated D) Total assets being understated
Retail franchisees generally have a large degree of latitude in the operation of their businesses
Indicate whether the statement is true or false
An example of a secondary market transaction involving a capital market security is
A) a new issue of a security with a very long maturity. B) the transfer of a previously-issued security with a very short maturity. C) a new issue of a security with a very short maturity. D) the transfer of a previously-issued security with a very long maturity.
The longer the maturity of a bond,
A) the less its price sensitivity. B) the lower its coupon rate. C) the less its price sensitivity and the lower its coupon rate. D) the greater its price sensitivity.