Recording expenditures for items that cost a significant amount as expenses rather than long-term assets violates which of the following accounting conventions?
a. Conservatism
b. Materiality
c. Cost-Benefit
d. Consistency
a
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The financial statement that reports whether the business earned a profit and also lists the revenues and expenses is called the:
A. Income statement. B. Statement of cash flows. C. Balance sheet. D. Statement of financial position. E. Statement of retained earnings.
A file organization is a named portion of primary memory
Indicate whether the statement is true or false
Lauren is the assistant manager of a midsized logistics firm. She believes her manager, Roger, has become carried away with supporting nonprofit organizations and encouraging employees to do community service. What argument would Lauren most likely use to turn Roger to her point of view?
A. Socially responsible decision making by firms can prevent increased government regulation. B. Social problems affect society in general, so it is important to protect our society. C. The company's time and money should be spent maximizing the owner's wealth, not solving society's problems. D. By contributing to social issues, business will decrease its opportunity for long-run profitability. E. The logistics business has unique resources that could be used to address serious social issues.
In the UML-style entity class ORDERS shown above, "GetOrderNo( )" is a ________
A) private method B) protected method C) public constraint D) public method