The primary objective of external financial reporting is to:
A. comply with external regulations and requirements of government and professional associations.
B. accurately provide financial results for tax purposes.
C. provide useful information to decision makers, especially investors and creditors.
D. enhance the ability of the company to acquire financial capital from external sources.
Answer: C
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Which of the following statements is true regarding dividend income?
a. Dividend income is accrued at year-end. b. Dividend income is reported on the income statement. c. Dividend income appears in the stockholders' equity section of the balance sheet. d. Dividend income is recognized by companies that own debt securities.
Which of the following is TRUE of a sales journal prepared under the perpetual inventory system?
A) It includes a Cost of Goods Sold DR, Merchandise Inventory CR column. B) It records both cash and credit sales transactions. C) All transactions recorded in a sales journal also are entered in the general journal. D) It cannot be used with a perpetual inventory system.
Jens is a newly-married man who wants $100,000 of life insurance, but he cannot afford the ordinary level whole life premium until he gets out of graduate school. He would like to pay less for the first few years of coverage until he graduates
He can still obtain the desired amount of insurance for the whole of his life by purchasing: A) limited-payment whole life B) single premium whole life C) deferred premium annuity life D) convertible term
Channel plans will include any owned media options and paid media purchased on social media sites as well. According to the State of Social Media Marketing Industry Report for 2016 (Fig. 5.5) which type of paid social media was the most commonly used for marketers?
a. Facebook ads. b. Google ads. c. Twitter ads. d. LinkedIn ads. e. YouTube ads.