The primary purpose of the balance sheet is to:
a. Report the current value of the business.
b. Measure the net income of a business up to a particular point in time.
c. Report the difference between cash inflows and cash outflows for the period.
d. Report the financial position of the reporting entity at a particular point in time.
D
You might also like to view...
Every information systems (IS) user has the right to a secure computing environment. This means that the ________.
A. user will never face a network problem B. user should solely be in charge of protecting the organization's computers and files C. user should inform the IS about software upgrades D. user should be in charge of applying system patches E. organization should protect his/her computer and its files
Walton Corporation shows the following in the stockholders' equity section of its balance sheet: The stated value of its common stock is $0.50 and the total balance in the common stock account is $37,500 . Also noted is that 5,000 shares are currently designated as treasury stock. The number of shares outstanding is
a. 80,000. b. 75,000. c. 72,500. d. 70,000.
The dimension of indulgence versus restraint is about ______________.
Fill in the blank(s) with the appropriate word(s).
Customers’ perception of excellence can be highly subjective. Therefore, it can be a challenge for the ____ control of an organization.
a. Preliminary b. Concurrent c. Quality d. Feedforward