Evaluating your financial health consists of
A) preparing a personal balance sheet.
B) determining what you are worth.
C) preparing a personal income statement.
D) determining where your money comes from and where it goes.
E) all of the above.
Answer: E
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Which qualitative characteristic pertains wholly to the attitude of board members as opposed to being more directly concerned with specific aspects of information contained in the financial statements?
a. Representational faithfulness b. Verifiability c. Consistency d. Neutrality
The balance in Discount on Bonds Payable
A) should be reported on the balance sheet as an asset because it has a debit balance B) should be allocated to the remaining periods for the life of the bonds by the straight-line method, if the results obtained by that method materially differ from the results that would be obtained by the interest method C) would be added to the related bonds payable to determine the carrying amount of the bonds D) would be subtracted from the related bonds payable on the balance sheet
A truck with a book value of $1,400 is traded in on a new truck with a list price of $24,000 . A trade-in allowance of $3,500 is given by the seller of the new truck. The new truck should be recorded on the ledger of the buyer at:
a. $24,000 - $3,500 + $1,400 = $21,900 b. $24,000 + $3,500 - $1,400 = $26,100 c. $24,000 - $3,500 = $20,500 d. $24,000 e. $24,000 + $1,400 + $3,500 = $28,900
Because job competition is stiff, you must have a customized résumé. Having a customized résumé means that you A) prepare a special résumé for every position you want
B) add pictures, color, and other graphics on the résumé. C) hire a professional résumé preparation company to review and refine your basic résumé and then "dress it up." D) include your personal information such as height, weight, and ethnicity.