The FASB requires that companies report cash flow per share in their audited financial statements.
Answer the following statement true (T) or false (F)
False
The FASB prohibits companies from disclosing cash flow per share in audited financial statements. The requirement for a per share amount is to report earnings per share on an income statement.
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During May, Aniston, Inc purchased office supplies for cash. The supplies will be used in June. What effect does this purchase transaction have on the accounting equation?
a. Assets increase and stockholders' equity decreases. b. Assets increase and liabilities increase. c. Assets decrease and liabilities decrease. d. There is no effect on the accounting equation as one asset account increases while another asset account decreases.
Which of the following is not a critical issue for a company whose management intends to engage in e-commerce?
A) privacy B) credit card fraud in developing countries C) ensuring that logos and other brand identity elements are consistent with local preferences D) ensuring a company's computer system supports only a particular language E) the availability of hot spots for Wi-Fi
Explain how to calculate total asset turnover. Describe what it reveals about a company's financial condition, whether a higher or lower ratio is desirable, and how it is best applied for comparative purposes.
What will be an ideal response?
What are licensing statutes?
What will be an ideal response?