The joint efforts of the FASB and the IASB to set forth qualitative characteristics of financial reporting information have led to which of the following tentative fundamental qualitative characteristics?
a. relevance, only
b. faithful representation, only
c. relevance and faithful representation
d. materiality, only
e. cost, only
C
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Which of the following does not affect the long-term profit generated by stores when evaluating store locations?
A. The economic conditions B. Competition C. The cost of operating stores D. The strategic fit of the areas' population with the retailer's target market E. The corporate centralization
Let's suppose that Wal-Mart wants to make sure its top-selling products are placed on the modular shelves at the right level for customers to find and buy. Using Wal-Mart as an example, explain what types of activities would occur in each of the five phases of the systems development life cycle in preparation for this providing this type of information to Wal-Mart and its suppliers.
What will be an ideal response?
To minimize the stress of the interview, what should a candidate focus on during the interview?
A) How to help the organization succeed B) How to minimize weaknesses C) Relaying information that presents the candidate in the best possible light D) Having well-rehearsed responses for "stock" questions E) What effect the candidate's answers will have on potential salary and benefits
Beckman Enterprises purchased a depreciable asset on October 1, Year 1 at a cost of $160,000. The asset is expected to have a salvage value of $16,500 at the end of its five-year useful life. If the asset is depreciated on the double-declining-balance method, the asset's book value on December 31, Year 2 will be:
A. $34,560 B. $46,980 C. $144,000 D. $86,400 E. $31,320