Which of the following is not a measurement issue in accounting?
A) When to record a business transaction.
B) How to classify the items of a business transaction.
C) When to classify the items of a business transaction.
D) Where to record a business transaction.
D
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Which of the following is a true statement?
a. Under the articulated concept, accounting elements are defined using the revenue-expense approach rather than the asset-liability approach. b. The articulated approach severs the mathematical relationships between the balance sheet and income statement. c. Under the articulated approach, contributed capital, retained earnings, and unrealized capital adjustments are subclassifications of owners’ equity. d. Recent SFASs have advocated the non-articulated approach to financial statements.
When using a graphic in a report, a person should explain the significance of the graphic when introducing it
Indicate whether the statement is true or false
Consider a project that consists of three consecutive activities of equal length as shown in the network diagram. The project manager would like to complete the project as quickly as possible and realizes that the diagram's logic is misleading
Instead of waiting until activity A is completed before activity B can begin, he can actually begin activity B once activity A has begun. The same reasoning holds for the relationship between activity B and activity C. The project manager decides to divide each activity in half, a technique known as "laddering". The second diagram shows the new network logic. In this diagram, activity A is divided into activity A1 and A2 where A1 must be finished before A2 can begin and before B1 can begin. The manager still isn't satisfied with the completion time of the project. Derive an expression or draw a diagram that demonstrates the fastest possible completion time of the project.
In the context of legal forms of business, identify an accurate statement about a general partnership.
A. A single partner operates as the firm's manager and is directly responsible for any debts owed by the firm. B. Established partners can bring in new equity partners by surrendering a portion of their ownership position. C. The partner with the largest equity stake makes decisions about the firm's operations. D. Owners report their shares of losses or profits independent of their interest in the firm.