The primary objective of external financial reporting is to:
A. accurately provide financial results for tax purposes.
B. enhance the ability of the company to acquire financial capital from external sources.
C. comply with external regulations and requirements of government and professional associations.
D. provide useful information to decision makers, especially investors and creditors.
Answer: D
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The five types of power identified by French and Raven are coercive power, legitimate, power, reward power, connection power, expert power and
a. referent power. b. real power. c. imposter power. d. punishment power.
Pepsi and Family Dollar, sponsors of the National Football League, have teamed up to offer one lucky winner the chance to win a trip to attend the Super Bowl. No purchase is necessary and contestants can enter either by mail or on the website. This is an example of a contest.
Answer the following statement true (T) or false (F)
Japan's equivalent for the Baldrige Award is the Dorchester Prize
Indicate whether the statement is true or false
Which of the following is true regarding standard cost systems in manufacturing environments that emphasize continuous improvement and just-in-time manufacturing and purchasing?
A) The standard cost system enhances the operational control. B) The materials price variance may encourage the purchasing department to buy in smaller quantities to reduce inventories. C) Variances can be computed and presented in reports to higher-level managers. D) The operational level will benefit from the detailed computation of variances. E) None of these are true.