How would XBRL GL be used for internal uses such as management accounting?
What will be an ideal response?
Answers will vary! A potential answer might include a discussion of how XBRL GL might be used to quickly and efficiently share financial and managerial information throughout the organization.
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Upon review of Bert's statement of cash flows, the following was noted: Cash flows from operating activities $ 60,000 Cash flows from investing activities (125,000) Cash flows from financing activities 115,000 From this information, the most likely explanation is that Bert is:
A) using cash from operations and selling long-term assets to pay back debt. B) using cash from operations and borrowing to purchase long-term assets. C) using its profits to expand growth. D) using cash from investors to provide for operations.
A __________ is created when a group of states reduce or eliminate tariffs between themselves but maintain their own individual tariffs as to other states
a. free trade area b. Caribbean basin initiative c. customs union d. most favored nation
Kulwicki Corporation wants to determine the effect of an expansion of its sales on its operating income (EBIT). The firm's current degree of operating leverage is 2.75. It projects new unit sales to be 170,000, an increase of 45,000 over last year's level of 125,000 units. Last year's EBIT was $60,000. Based on a degree of operating leverage of 2.75, what is this year's expected EBIT with the increase in sales?
A. $119,400 B. $120,594 C. $97,908 D. $138,504 E. $146,862
The Consumer Product Safety Commission is the primary agency that issues regulations on food labeling
a. True b. False Indicate whether the statement is true or false