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Accounts receivable and accounts payable are most likely classified as which financial statement elements？
Accounts receivable Accounts payableAccounts receivable and accounts payable are most likely classified as which financial statement elements？
Accounts receivable Accounts payable

Assets Liabilities
B. Revenues Liabilities
C. Revenues Expenses

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Which is least likely one of the conclusions about the impact of a change in financial reporting standards that might appear in managements discussion and analysis？

A. Management has chosen not to implement the new standard.
B. Management is currently evaluating the impact of the new standard.
C. The new standard will not have a material impact on the companys financial statement

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Standard-setting bodies are responsible for:

A. Establishing financial reporting standards only.
B. Establishing and enforcing standards for financial reporting.
C. Enforcing compliance with financial reporting standards only.

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The accounting equation is least accurately stated as:

A. owners equity=liabilities－assets.
B. Ending retained earnings = assets － contributed capital - liabilities.
C. Assets = liabilities + contributed capital + beginning retained earnings + revenue － expenses － dividends.

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Which of the following statements least accurately describes a role of financial statement analysis？

A. Use the information in financial statements to make economic decisions.
B. Provide reasonable assurance that the financial statements are free of material errors.
C. Evaluate an entitys financial position and past performance to form opinions about its future ability to earn profits and generate cash flow.

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Accounts receivable and accounts payable are most likely classified as which financial statement elements？Accounts receivable Accounts payableAccounts receivable and accounts payable are most likely classified as which financial statement elements？Accounts receivable Accounts payable

Assets Liabilities B. Revenues Liabilities C. Revenues Expenses

Which is least likely one of the conclusions about the impact of a change in financial reporting standards that might appear in managements discussion and analysis？

Standard-setting bodies are responsible for:

The accounting equation is least accurately stated as:

Which of the following statements least accurately describes a role of financial statement analysis？

Accounts receivable and accounts payable are most likely classified as which financial statement elements？
Accounts receivable Accounts payableAccounts receivable and accounts payable are most likely classified as which financial statement elements？
Accounts receivable Accounts payable

Assets Liabilities
B. Revenues Liabilities
C. Revenues Expenses