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: The objective of financial statements is to provide economic decision makers with useful information.
C: Reporting standards ensure that the information in financial statements is useful to a wide range of users.
A: Reporting standards focus mostly on format and presentation and allow management wide latitude in assumptions.
B: The objective of financial statements is to provide economic decision makers with useful information.
C: Reporting standards ensure that the information in financial statements is useful to a wide range of users.
举一反三
- 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: The objective of financial statements is to provide economic decision makers with useful information. C: Financial statements could potentially take any form if reporting standards didn’t exist.
- 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: make financial statements comparable to one another. C: are disclosed on Form 8 -K by publicly traded firms in the United States.
- The responsibilities of management include （ ） A: preparing for financial statements B: Establishing effective internal control over financial reporting¡ C: Compliance of regulations of companies D: Complaince with auditing standards
- Which of the following statements is/are true? 1.A supplier of goods on credit is interested only in the statement of financial position, ie an indication of the current state of affairs. 2.The objective of financial statements is to provide information about the financial position, performance and changes in financial position of an entity that is useful to wide range of uses in making economic decisions. A: 1 only B: 2 only C: Both 1 and 2 D: Neither 1 or 2
- Which of the following statements is least likely to be one of the conclusions about the impact of a change in financial reporting standards that might appear in management"s discussion and analysis A: Management is currently evaluating the impact of the new standard. B: The new standard will not have a material impact on the company"s financial statement. C: Management has chosen to revise the new standard according to the requirement of the company.