The FASB's conceptual framework does not include which of the following as financial reporting objectives?
a. Provide information useful for making suboptimal investment and credit decisions.
b. Provide information to help current and potential investors and creditors assess the amount, timing, and uncertainty of future cash flows.
c. Provide information about the economic resources of a firm's customers and the claims on those resources.
d. Provide information about a firm's operating performance during a period.
e. Provide information about how an enterprise obtains and uses cash.
C
You might also like to view...
The total column of the Partners' Capital Statement for DeltaBell Company is as follows:
Capital, January 1................................................... $600,000 Additional investment.............................................. 240,000 Drawings................................................................. 360,000 Net income............................................................. 720,000 The partnership has three partners. The first two partners have ending capital balances that are equal. The ending balance of the third partner is half of the ending balance of the first partner. What is the ending capital balance of the third partner? a. $288,000 b. $192,000 c. $240,000 d. $264,000
Which of the following is a true statement about the Americans with Disabilities Act (ADA)?
A. The law has not been put into practice till date. B. Mental disabilities have been left out of the purview of the law. C. The law lays out clear-cut rules for reasonable accommodation. D. What counts as a disability remains ambiguous under the law.
________________ is defined as the characteristics that describe our thoughts, feelings, and behaviors.
a. Personality trait b. Self-concept c. Personality characteristic d. Differences
Which of the following is a true statement concerning common stock?
a. The dividend is often a fixed percentage of par value. b. It accumulates unpaid dividends until they are all paid. c. Regular cash payments to the shareholder are required. d. There is an opportunity to realize greater growth in the value of the investment. e. When the firm is liquidated, the holders of common stock will be paid out of the proceeds of the sale of assets before anyone else.