Q1. Which of the following statements about financial statements and reporting standards is least accurate? A) Reporting standards focus mostly on format and presentation and allow management wide latitude in assumptions. B) Financial statements could potentially take any form if reporting standards didn’t exist. C) The objective of financial statements is to provide economic decision makers with useful information.
Q2. Which description of the objective of financial statements is most accurate? The objective of financial statements is: A) to provide economic decision makers with useful information about a firm’s financial performance and changes in financial position. B) to provide securities analysts with objective data about a firm’s financial prospects. C) to provide a wide range of users with information about a firm’s financial prospects.
Q3. Which of the following statements about financial reporting standards is least accurate? Reporting standards: A) narrow the range within which management estimates can be seen as reasonable. B) are disclosed on Form 8K by publicly traded firms in the United States. C) ensure that the information is “useful to a wide range of users.”
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发表于 2009-1-16 09:53
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