Financial Accounting > QUESTIONS & ANSWERS > C214|Western Governors University|Multiple Attempt Study Guide|with answers (All)
C214|Western Governors University|Multiple Attempt Study Guide|with answers
Document Content and Description Below
What standards are used to help US investors understand and compare foreign financial statements to domestic financial statements? Correct Answer: International Financial Reporting Standards When a... company is optimizing its resources and maintaining or improving productivity, they are engaging in what hypothesis Correct Answer: Efficient Market Hypothesis What is the basic type of negotiable debt? Correct Answer: Bonds What is the characteristic of a stock sold in the secondary markets? Correct Answer: Stocks sold in the secondary markets are traded after the initial offering. If a company is engaged in lobbying for tariffs and trade restrictions, if they are successful, what are the two principal impacts? Correct Answer: Protection for the lobbyist and higher prices for the consumer pre reduced competition. Describe what an income statement is in one sentence? Correct Answer: It covers a period of time and starts with sales, takes out expenses, and ends with net income. What is the difference between taxable income and accounting income? Correct Answer: Accounting income is reported as net income on the income statement whereas Taxable income is used to determine the amount of tax a firm must pay. Net Income 15,000 Depreciation Exp 2,000 Change in Operating Assets 1,200 Change in PP&E 2,000 Change in long-term liab. 1,200 Dividends paid 1,500 What is the Cash Flow from Financing? Correct Answer: CFF= Incr Stock + Incr Debt -Dividends Paid = 1200-1500 = -300 Net Income 121,000 [Show More]
Last updated: 2 years ago
Preview 1 out of 9 pages
Buy this document to get the full access instantly
Instant Download Access after purchase
Buy NowInstant download
We Accept:
Reviews( 0 )
$4.50
Can't find what you want? Try our AI powered Search
Document information
Connected school, study & course
About the document
Uploaded On
Nov 16, 2022
Number of pages
9
Written in
Additional information
This document has been written for:
Uploaded
Nov 16, 2022
Downloads
0
Views
64
