The Agile Methodologies focus on the roles that people perform rather than placing the emphasis on individuals
Indicate whether the statement is true or false
FALSE
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Which of the following statements is false regarding U.S. GAAP versus IFRS financial statement presentation?
a. U.S. GAAP does not require the presentation of a classified balance sheet. b. IFRS requires the classification of assets and liabilities as current and noncurrent. c. If a range of values is available for reporting an outcome in a loss contingency, U.S. GAAP requires a company to report the high end of the range as a probable outcome. d. If a range of values is available for reporting an outcome in a loss contingency, IFRS requires a company to record the mid-point of the range as a probable outcome.
?Which of the following statements is true?
A. ?Dividend payments of firms are independent of how much profit the firm is making. B. ?Stock prices of firms are independent of how much profit the firm is making. C. ??A share of stock gives an investor complete ownership of the corporation that issued the stock. D. ?A share of stock gives an investor partial ownership of the corporation that issued the stock.
Answer the following statements true (T) or false (F)
1. Because of the risk of fraud, electronic invoices and electronic receiving reports are seldom used in accounting information systems. 2. In an accounting information system, outputs are the reports used for decision making, which include the financial statements. 3. In a manual accounting information system, reports and financial statements must be created using Word documents, Excel spreadsheets, or PowerPoint. 4. The main computer where data are stored, which can be accessed from many different computers, is known as software. 5. A computerized system uses software to process transactions. Thus employees are no longer required to manually journalize and post transactions to the accounts.
Logan, Caden, and Olivia are three unrelated parties who claim the standard deduction. All are married and attend Citron University, and each pays tuition of $6,100. Of this payment, Logan can claim a deduction of $4,000; Caden a deduction of $2,000; and Olivia no deduction at all. Explain.
What will be an ideal response?