Which of the following characteristics does not describe the Anglo-Saxon model of financial reporting?
a. A strong accounting profession
b. Strong governmental influence
c. The importance of securities markets for raising equity capital
d. An emphasis upon the true and fair view of audited financial statements
ANSWER: B
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In 2001, the number of unemployed people in a country increased from 5.7 million to 8.3 million, while the labor force increased from 141.5 million to 142.3 million. By how much did the unemployment rate increase?
A. 1.8 percentage points B. 2.6 percentage points C. 3.25 percentage points D. 5.8 percentage points
Sally recently purchased Brand X lotion. In comparing her perception of how the lotion made her skin feel and look to her expectations about Brand X lotion, Sally was measuring her level of ________
A) share of customer B) customer satisfaction C) customer equity D) customer-perceived value E) customer lifetime value
The applied overhead of a job is more than the actual overhead and it is considered immaterial by the company. An entry to record this would involve a
A) debit to the Materials Inventory account. B) credit to the Overhead account. C) credit to the Cost of Goods Sold account. D) debit to the Work in Process Inventory account.
Professional judgment is influenced by:
A. Organizational values B. Cognitive biases C. Personal code of ethics D. Organizational dissonance