Which of the following represents one of the purposes of the notes to financial statements?
a. To provide a place for management to justify questionable items in the statements
b. To provide comparative ratios for the company's financial data
c. To provide the CPA's opinion of the fairness of the financial statements
d. To satisfy the need for full disclosure of all the facts relevant to a company's results and financial position
d
You might also like to view...
Yen has a new product idea that aligns well with her company's current organizational resources. She puts together a presentation for potential buyers and requests feedback on their reactions and suggestions. Yen is
A. screening. B. generating product ideas. C. test marketing. D. conducting a business analysis. E. concept testing.
Patch Corporation purchased land from Sub1 Corporation for $350,000 on December 3, 20X5. This purchase followed a series of transactions between Patch-controlled subsidiaries. On January 23, 20X5, Sub3 Corporation purchased the land from a nonaffiliate for $240,000. It sold the land to Sub2 Company for $220,000 on July 15, 20X5, and Sub2 sold the land to Sub1 for $305,000 on September 5, 20X5. Patch has control of the following companies: Subsidiary Level of Ownership20X5 Net Income Sub3 60 percent $60,000 Sub2 90 percent $140,000 Sub1 70 percent $90,000 Patch reported income from its separate operations of $345,000 for 20X5.Based on the preceding information, what should be the amount of income assigned to the controlling shareholders in the consolidated
income statement for 20X5? A. $110,000 B. $525,000 C. $635,000 D. $474,000
An organization that has very little diversity or inclusiveness is a ________ organization.
A) monolithic B) multicultural C) heterogeneous D) pluralistic E) racist
To create a new MySQL Workbench EER model, you can use ________
A) the add Model link on the Home page B) the File | New Model command C) the Start new EER command D) Both A or B are correct