Which of the following would NOT be a reason to obtain a greater understanding of accounting practices in other nations?
A) Financial results are disclosed in different currencies.
B) Departures from the historical cost principle may be possible in other nations.
C) One needs to be aware of differing disclosure requirements from nation to nation,
as this impacts the preparation of financial statements.
D) Income-smoothing may have affected a foreign subsidiary's results; such
smoothing practices are not permitted in North America.
A) Financial results are disclosed in different currencies.
You might also like to view...
The term ______ is used to describe the behavior of people who manipulate others and use unethical practices for personal gain.
A. self-monitoring B. proactive personality C. machiavellianism D. locus of control
Which of the following characteristics does not apply to the decision-model approach to research?
a. It asks what information is needed for making decisions. b. It asks what information users want. c. It concentrates on what information is useful for particular decisions. d. It has a normative and deductive orientation.
A company borrows $40,000 and issues a 3-year, 10% installment note with interest payable annually. The factor for the present value of an annuity at 10% for 3 years is 2.4869. The factor for the present value of a single sum at 10% for 3 years is 0.7513. The amount of the annual interest payment is $16,084.28.
Answer the following statement true (T) or false (F)
A typical restaurant employs a ______ strategy by preparing meals only after the customer places an order, thereby matching actual production with customer demand.
A. dual B. product C. chase D. mixed