Financial Reporting, Finance And Accounting

Question: Why would R&D be possibly included on both or either the Income Statement and Balance Sheet?
A
It depends what state the company is in and what the governing rules are

B
R&D can stand for different things, so it depends on how a company defines what is R&D

C
Companies can move it from statement to statement depending on what the most favorable result is

D
Some companies elect to capitalize their R&D over a certain amount, and expense smaller amounts

Note: Answer not sure
1. Report
Question: Which of these are the four general groups of outside users of a company's financial reports?
A
Government, Charities, SEC, IRS

B
Investors, Lenders, Government, General Public

C
Accounting Standards Board, Charities, GAAP, Employees

D
Unions, Non Unions, Government Officials, SEC

Note: Answer not sure
1. Report
Question: Which of the following would not be included in a balance sheet?
A
Accounts receivable

B
Accounts payable

C
Sales

D
Cash

Note: Answer not sure
1. Report
Question: Which of these is a part of "Other Revenues"?
A
Sale of the company's products beyond the forecasted amount

B
Sale of all new products introduced that year

C
Any revenue items not generated as part of the primary operations of the company

D
Revenues generated from the sale of old inventory

Note: Answer not sure
1. Report
Question: Which of these are the two methods of preparing the cash flow statement?
A
Cash & Accrual

B
Direct & Indirect

C
Current Period & Prior Period

D
GAAP & International

Note: Answer not sure
1. Report
Question: Which of these does the operating section of a cash flow statement not contain?
A
Interest received on loans

B
Payments to suppliers

C
Dividends received from investments

D
Purchase of fixed assets

Note: Answer not sure
1. Report
Question: A company prepays for 6 months of insurance. What effect does this have on their current assets?
A
No Change

B
Increase

C
Decrease

D
Varies depending on how they paid

Note: Answer not sure
1. Report
Question: How are the Statement of Retained Earnings & the Balance Sheet related?
A
Debts paid off in the current period are detailed in the Statement of RE

B
Statement of RE is a detailed analysis of the equity section and the change in it from the prior reported period

C
Cash from the balance sheet is transferred to the Statement of RE

D
They are not linked directly

Note: Answer not sure
1. Report

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Question: Why would R&D be possibly included on both or either the Income Statement and Balance Sheet?

Question: Which of these are the four general groups of outside users of a company's financial reports?

Question: Which of the following would not be included in a balance sheet?

Question: Which of these is a part of "Other Revenues"?

Question: Which of these are the two methods of preparing the cash flow statement?

Question: Which of these does the operating section of a cash flow statement not contain?

Question: A company prepays for 6 months of insurance. What effect does this have on their current assets?

Question: How are the Statement of Retained Earnings & the Balance Sheet related?