The goal of generally accepted accounting principles is to ensure that a company's financial statements:
A. are accurate and free from fraud.
B. do not contain any representation that could jeopardize management.
C. clearly represent its economic condition and performance of the company.
D. provide stockholders all of the information they need to assess management's performance.
Answer: C
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An individual is said to have a balanced budget when his or her total income for the year equals or exceeds his or her total expenditures for the year.
Answer the following statement true (T) or false (F)
The following information is provided about some of the Town of Truesdale's General Fund operating statement and budgetary accounts for the fiscal year ended June 30. Estimated revenues$3,150,000 Revenues 3,190,000 Appropriations 3,185,000 Expenditures 3,175,000 Estimated other financing sources 400,000 Encumbrances 20,000 Encumbrances outstanding 20,000 Budgetary fund balance (calculate) The Town of Truesdale will honor all of its outstanding encumbrances in the next fiscal period. Prepare the journal entry(ies) to close budgetary accounts required to be closed at the fiscal year end using the information provided. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
What will be an ideal response?
Using the telephone to find a room for an in-house meeting and a time when it is convenient for all participants to meet can be done quickly since everyone is available in-house
Indicate whether the statement is true or false.
A car dealer offers paymets of $722.59 per month for 36 months on a $31,000 car after making a $8,000 down payment. What is the loan's APR?
a. 10.17% b. 11.17% c. 5.17% d. 8.17%