Which of the following is not a major challenge facing the accounting profession? a. Nonfinancial measurements. b. Timeliness. c. Accounting for hard assets. d. Forward-looking information.
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Which of the following is not a major challenge facing the accounting profession?
a. Nonfinancial measurements.
b. Timeliness.
c. Accounting for hard assets.
d. Forward-looking information.
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- Which of the following is a major challenge facing the accounting profession? O A. Accounting for hard assets O B. Backward-looking information O. Financial measurements O D. Timeliness1. An accounting information system should be designed to provide information that is useful. To be useful the information must be: a. qualitative rather than quantitative. b. unique and unavailable through other sources. c. historical in nature and not purport to predict the future. d. marginal between two alternatives. e. relevant, accurate, and timely.Which of the following is not a function of an Accounting Information System? a.The efficient and effective collection and storage of data concerning an organization’s financial activities b.The supply of information useful for making decisions c.The determining and evaluating of alternative courses of action d.The implementation of controls to accurately record and process data.
- Why accounting is an infromation system? Explain with your own point of view with example.Which of the following is not considered an analyticalaspect of the accounting profession?a. Evaluating an organization’s operational effi ciency.b. Forecasting the probable results of future operations.c. Designing systems that provide information to decisionmakers.d. Journalizing and posting business transactions.Which of the following is not a fundamental quality of useful accounting information? Group of answer choices Faithful representation. Relevance. Faithful representation and Relevance. Materiality
- Which of the following are considered secondary characteristics of accounting information? a. verifiability and feedback value b. predictive value and timeliness c. comparability and consistency d. representational faithfulness and neutralityfactors that influence the adoption of computarised accounting systems.6. How and why would the accounting profession use the results of behavioural research in accounting?7. From a behavioral theory perspective, why does it matter how assets and liabilities are measured? 8. Briefly explain the Brunswik Lens Model and its relevance to explaining the various facts of the decision making process.
- The first step in solving an ethical dilemma is to identify the alternatives. weigh the impact of each alternative on various stakeholders. O recognize an ethical situation and the ethical issues involved. O identify and analyze the principal elements in the situation.What is the role of accounting in providing relevant and reliable information to users of financial statements, and how does this role intersect with ethical considerations?From the following statements which one is not the correct classification of accounting theory Select one: a. Inductive approach theory b. Accounting structure theory c. Decision usefulness theory d. Interpretation theory