According to the FASB, the usefulness of accounting is judged by which of the following two qualitative characteristics of accounting information?
A) Comparability and neutrality
B) Understandability and comparability
C) Verifiability and timeliness
D) Relevance and faithful representation
D
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Which of the following is an advantage of using an internal database?
A) Data always remains current in internal databases. B) Highly sophisticated equipment and techniques are not required for maintaining internal databases. C) Internal databases can be accessed more quickly and cheaply than other information sources. D) Internal databases require less maintenance efforts. E) Information obtained from internal databases is almost always sufficient for making marketing decisions.
Dividends yield is a market strength ratio
Indicate whether the statement is true or false
A contingent liability should be recorded when
a. any lawsuit is actually filed against a company. b. it is certain that funds are available to pay the amount of the claim. c. it is probable that a liability has been incurred even though the amount of the loss cannot be reasonably estimated. d. the amount of the loss can be reasonably estimated and it is probable prior to issuance of financial statements that a liability has been incurred.
The most common circumstance for project closure is simply a completed project such as building a new facility or creating a customized information system.
Answer the following statement true (T) or false (F)