When there is substantial doubt about a company's ability to remain a going concern, with the matter properly disclosed in the financial statements, the report issued is unmodified with an emphasis-of-matter paragraph or a disclaimer of opinion.
Answer the following statement true (T) or false (F)
True
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Management accounting reports can
a. use a flexible format. b. use financial and nonfinancial data. c. be prepared for any time period. d. include all of these.
If a service desk is providing multi-channel support, ____.
A. analysts' writing skills have less importance because customers often use self-service options and don't interact with analysts B. customers typically contact the service desk for less complex and simpler incidents and service requests as they can be resolved quickly C. there is less of a need to develop, maintain, and support the service desk's systems as most technology is integrated D. analysts must ensure that they are capturing the data needed to efficiently and effectively manage the various support channels
Which of the following is not true if the functional currency of a foreign operation is U.S. dollars?
a. All balance sheet items that were carried at current or future exchange prices are translated at the current exchange rate. b. All balance sheet items carried at past prices are translated at exchange rates existing at the time the item was acquired. c. All income statement items are translated at the average exchange rate for the reporting period. d. Exchange gains and losses arising from translation from the currency of record into the functional currency are recognized on the income statement.
Shopville Industries, Inc, a nonconstruction employer of 35 people, is subject to the Executive Order prohibiting discrimination based on race, sex, religion, or national origin by federal contractors:
a. only if it has contracts for more than $100,000. b. only if it has contracts for more than $50,000. c. regardless of the dollar value of its contracts. d. under no circumstances since the Executive Order only applies to construction contractors.