Factor(s) involved in communicating useful information is (are):
A. Purpose for which the information will be used
B. Process by which the information is analyzed
C. Attributes of the users
D. All of these answers are correct.
Answer: D
You might also like to view...
A responsibility accounting/reporting system includes the following:
a. upward reporting of information b. aggregation of data as it flows upward c. appropriate information detail for each decision maker d. All of the above
Which of the following is NOT an element identified by the AICPA as being necessary in order to use percentage-of-completion accounting?
a. The construction period can be reasonably estimated. b. The buyer can be expected to satisfy obligations under the contract. c. Dependable estimates can be made of the extent of progress toward completion. d. Dependable estimates can be made of contract costs.
To increase the margin between selling price and manufacturing cost, a manufacturing company might:
a. negotiate a lower purchase price with suppliers of raw materials. b. substitute more efficient manufacturing equipment for work now done by employees. c. increase selling prices. d. all of the above e. none of the above
The accounting concept or principle that is perhaps the greatest single culprit in distorting the results of financial statement analysis is the:
A. Historical cost principle. B. Time value of money concept. C. Matching principle. D. Conservatism concept.