APB Opinion No. 19 permitted fund balance accounts in the statement of changes in financial position to include which of the following?
a. Quick assets only
b. Cash and near cash only
c. Working capital only
d. Cash, cash and near cash, quick assets, or working capital
ANSWER: D
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The only financial statement used to prepare the statement of cash flows is the balance sheet.
Answer the following statement(s) true (T) or false (F)
While making capital investment decisions, companies set a minimum rate of return to
A) set the maximum expected returns. B) guard their profitability. C) cover their fixed costs. D) comply with the government regulations.
A ________, ________, and ________ card may be used when the analyst is beginning to model or talk about the system from an O-O perspective
A) class; responsibilities; collaborators B) class; responsibilities; collections C) class; revisions; collaborators D) collection; responsibilities; collaborators
The goals that an organization chooses to adopt are defined by an individual or group. Different individuals have different ideas about which goals are important to pursue. In your judgment, what factor(s) should determine the priority of organizational goals? What types of goals should every organization have? Think of what goals would be important to an educational tutoring company, a Starbucks location, and a fitness center. List the goals in the order of importance, and explain why each set of goals is important for the respective company. Write your conclusions in a short essay.
What will be an ideal response?