Accrual accounting recognizes revenues and expenses at the point that cash changes hands
Indicate whether the statement is true or false
False
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Which of the following is true of the Garn-St. Germain? Act?
A. ?It allows thrifts to invest up to 10 percent of portfolios in riskier assets such as stocks and real estate. B. ?It creates the system of national banks to be chartered by the Comptroller of the currency. C. ?It creates the Federal Reserve system and gives it the responsibility as the lender of last resort. D. ?It prohibits commercial banks from investment banking activities.
In the context of market planning, it is advisable to view the potential market as a homogeneous market irrespective of the different needs and demands of the smaller niche markets
Indicate whether the statement is true or false
U.S. GAAP requires the disclosure of the acquisition of a building by assuming a mortgage obligation
a. as both a financing activity and an operating activity. b. as both an operating activity and an investing activity. c. as both an investing activity and a financing activity. d. in a separate schedule or note, but does not appear in the statement of cash flows as an operating activity, investing activity or a financing activity. e. as both an investing activity and a exchange activity.
Which of the following most accurately describes an annuity?
A) an investment which produces increasing cash flows over time B) a series of unequal cash payments made at equal time intervals C) a stream of equal cash payments made at equal time intervals D) a term that does not apply to mortgage payable or bond payable