Information needed by users of accounting data includes
a. the firm's
profitability; b. detailed measures of the firm's performance; c. the firm's outstanding debt; d. the firm's inflow and outflow of cash; e. all of these.
E
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Three types of incentives can be used to encourage customers to make online purchases: financially-based incentives, convenience-based incentives, and price-based incentives
Indicate whether the statement is true or false
Why is the time period assumption required?
a. Inflation exists. b. External users of financial statements want statements that accurately reflect net income or earnings for a specific time period. c. The dollar is the monetary unit in the United States. d. The federal government requires it.
A company has $200 in cash, $500 in accounts receivable, and $700 in inventory. If current liabilities are $400, then the current ratio would be
a. 1.75 to 1 b. 3.50 to 1 c. 3.00 to 1 d. 2.25 to 1
Which of the following focuses on the concept of business practices and what type of people these practices are creating?
A. Virtue ethics B. Kantian ethics C. Principle-based ethics D. Utilitarian ethics