Which of the following is/are not true?
a. U.S. GAAP and IFRS do not permit the employer to prepare consolidated financial statements with the retirement trust.
b. The employer must report the net funded status of each defined benefit retirement plan (that is, the fair value of retirement trust assets minus the retirement trust obligation) as either an asset or a liability on its balance sheet.
c. The employer must report the net funded status of each defined benefit retirement plan and credit (for an overfunded plan) or debit (for an underfunded plan) is to Other Comprehensive Income.
d. Notes to the financial statements do not provide information about investments made by the retirement trust and how trust assets and liabilities changed during a period.
e. all of the above
D
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Which of the following is true regarding normal balances of accounts?
A) All accounts have a normal debit balance. B) The normal balance of all accounts will have either a positive or negative balance. C) Accounts that have a normal debit balance will only have debit entries, never credit entries. D) The normal balance is the side of the account that increases the account.
Which of the following U.S. federal agencies was created in response to the terrorist attacks on September 11, 2001?
A) the Federal Bureau of Investigation B) the Central Intelligence Agency C) the National Security Agency D) the U.S. Department of Homeland Security
When preparing a résumé in a format compatible with computers, photocopiers, and scanners, it is advisable to:
A. use bullets instead of asterisks in the résumé. B. minimize the use of abbreviations in the résumé. C. print the résumé on both sides of the paper. D. use right justification to align the text in the résumé.
Which type of automation is appropriate for processes designed to produce large volumes of standardized products that have relatively long life cycles?
a. fixed b. flexible c. constant d. continuous