Which of the following statements is true concerning external users of financial information?
a. External users need detailed records of the business to make informed decisions.
b. External users are primarily responsible for the preparation of financial statements.
c. External users rely on the financial statements to help make informed decisions.
d. External users rely on management to tell them whether the company is a good investment
c
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People who have and exercise power have a number of personal qualities, including
A) Ambition B) Self-knowledge C) Confidence D) Ability to tolerate conflict E) All of the above
Under the U.S. method of translation procedures, if the financial statements of the foreign subsidiary of a U.S. company are maintained in the local currency, and the U.S. dollar is the functional currency, then:
A) translation is not required. B) translation is accomplished through the current rate method. C) translation is accomplished through the temporal method. D) none of the above
Which of the following is true with regard to Hansen v. America Online, Inc?? A) ?The Utah Supreme Court accepted a wrongful termination suit brought by several employees
B) The employees were discharged for violating an employer's policy prohibiting possession of a firearm on the employer's property.? C) The court held that the discharge of the employees was not in violation of public policy.? D) The private property rights of the employer allowed the employer to ban firearms from its property.
We have obtained access to the company's operational data. We have been asked to produce a report with an item by item analysis of sales, but the only sales figure available is the total sale value for each order. This is an example of:
A) dirty data. B) inconsistent data. C) nonintegrated data. D) a "wrong format" problem. E) a "too much data" problem.