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- Which is the only ratio required to be reported on the face of a companys financial statements? What are the two ways the ratio is required to be reported?Which of the following is true about earnings management? A. It works within the constraints of GAAP. B. It works outside the constraints of GAAP. C. It tries to improve stakeholders views of the companys financial position. D. Both B and C E. Both A and CThe metrics based on financial numbers produced by the accounting system are ________. A. quantitative factors B. qualitative factors C. stakeholders D. stockholders
- What is the accounting equation? List two examples of business transactions, and explain how the accounting equation would be impacted by these transactions.Which of the following statements is true? Under cash-basis accounting, revenues are recorded when a company satisfies its performance obligations and expenses are recorded when incurred. Accrual-basis accounting records both cash and noncash transactions when they occur. Generally accepted accounting principles require companies to use cash-basis accounting. The key elements of accrual-basis accounting are the revenue recognition principle, the expense recognition principle, and the historical cost principle.Please discuss the questions followings: 1. What is the difference between liquidity and solvency? 2. What is the difference between working capital and the current ratio? 3. Why is the accrual basis of accounting requied by geneally accepted acccounting principles (GAAP)? 4. What is the most important output of the accounting cycle? Do all companies have an accounting cycle?
- What are the accounting implications of an accounting model whose measurement focus is on “current financial resources”?"What are the main components of a company's balance sheet, and how do they provide insight into the company's financial position?"What are the types of Balance Sheet analysis and how can it help a business.
- What is the purpose of a balance sheet in accounting, and what information does it provide about a company's financial position?Which of the basic financial statements is best used to answer the question, "How profitable is the business?" a. Income statement O b. Statement of shareholder's equity O c. Accounts receivable aging schedule O d. Balance sheetWhat do you mean by accounting in business? Explain the Accounting Cycle in detail?