The IASB and FASB boards have agreed that the objective of general purpose financial reporting is to provide
A) financial information about a company that is useful to investors, lenders and other creditors
B) mainly cash flow information about a company that is useful to external users in making decisions in their capacity as capital providers
C) financial information about a company that is useful to internal users in making decisions in their capacity as capital custodians
D) financial information about a company that is used by government regulators for taxation
A
You might also like to view...
Today’s audiences are more attuned to messages that have ______ appeal than to ones appealing solely to their ears.
a. visual b. physical c. humorous d. logical
The formula for writing 3 is to 5 as 21 is to a number is
?
?
?
3x = 21(5)
?
3x = 105
?
x = 35
Answer the following statement true (T) or false (F)
Which of the following is true about the process of setting the offering price of an issue??
A. ?The offering price of the initial public offering of the stock of a privately held company is determined by a financial intermediary, whereas the offering price of the seasoned offering of a public company is determined by an investment bank. B. ?An investment banker has an easier job of selling the issue if it carries a relatively high price. C. ?An investment bank finds it easier to set the offering price of an initial public offering as compared to that of a seasoned offering. D. ?An investment bank finds it easier to set the offering price of a seasoned offering of a private company as compared to a seasoned offering of a public company. E. ?If the company is already publicly owned, the offering price will be based on the existing market price of the stock or the yield on the firm's existing bonds.
XYZ Insurance Company expects $500,000 in claims and loss adjustment expenses for each 1,000 properties that it insures in a certain category of business insurance. What pure premium should XYZ charge for each property insured?
A) $69.99 B) $166.67 C) $350.00 D) $500.00