A firm requires short—term funds to cover payroll expenses. These funds can come from___
A. collection of receivables
B. bank loans
C. delayed payment of accounts payable
D. all of the above
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The most popular depreciation method for financial reporting is the following:
A. units-of-production
B. sum-of-the-years’-digits
C. declining-balance
D. straight-line
The purpose of ____ principle is to allow meaningful inter-period comparisons of an entity.
A. going concern
B. accounting period
C. accounting entity
D. consistent
Which of the following is not an accounting standard-setting organization?
A. FASB
B. IASB
C. MOF
D. GAAP
The current asset section of the balance sheet should include:
A. land
B. trademarks
C. investment in C Company (for purposes of control)
D. work in process inventory