• 2022-05-30
    Main objective of analysis of financial statements is ( )
    A: To know the financial strength
    B: To make a comparative study with other firms
    C: To know the efficiency of management
    D: To know the business strategy
  • A,B,C,D
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    • 0

      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.

    • 1

      Do you know ______ people in the business A: another B: other C: one other

    • 2

      The balance sheet is one of the basic ____1____. Financial statements are the main source of financial information to persons outside the business organization and also are useful to management. These statements are very ____2____, summarizing in three or four pages the activities of a business for a ____3____period of time, such as a month or a year. They show the financial ____4____ of the business at the end of the time period and also the ____5____ by which the business arrived at this financial position.

    • 3

      Which of the following is NOT a main focus of management accounting? A: Planning B: Control C: Financial statements D: Decision making

    • 4

      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.