+1835 731 5494 Email: instantessays65@gmail.com

MAC/7100 MAC7100 MAC 7100 WEEK 4 MIDTERM

$12.99

MAC 7100 WEEK 4 MIDTERM Week 4 – Midterm • Question 1 Numerals assigned in ordinal rankings indicate an order of preference where the degree of preference among ranks is the same. • Question 2 “The responsibility of the Financial Accounting Foundation is to elect the board of trustees, which selects FASB members, funds the board s activities, and performs the oversight role.” • Question 3 Which of the following research areas hypothesizes that management attempts to maximize its own welfare by minimizing costs of monitoring and contracting? • Question 4 “Under the revenue-expense approach, the income statement is regarded as simply a way of classifying and reporting on changes that occur in a firm s net assets.” • Question 5 Transactions are economic or financial events that are recorded in the firm s accounts. • Question 6 Analytical/deductive research methods are commonly used in accounting research. • Question 7 The importance of the auditing function relative to the management consulting function is declining in major auditing firms. • Question 8 Prediction measures are concerned with factors that may be indicative of future conditions. • Question 9 In which of the following ways did the charge to the Financial Accounting Standards Board (FASB) differ from that given to the Accounting Principles Board (APB)? • Question 10 “Which of the following refers to accounting information that is used by investors, creditors, and other outside parties for analyzing management performance and decision-making?” • Question 11 Major complaints aimed at the FASB s standard setting process include: • Question 12 Agency theory studies are a special case of: • Question 13 The decision-model approach to accounting research seeks to determine what information users of accounting information want. • Question 14 “Where rigid uniformity is in effect, the underlying reasons may be attributable to all but which one of the following factors?” • Question 15 “Accounting theory includes conceptual frameworks, accounting legislation, valuation models, and hypotheses and theories.” • Question 16 Assessment measures are concerned with particular attributes of objects and are always direct measurements. • Question 17 Which of the following is not true regarding agency theory? • Question 18 A premise stating that accounting reports should be based on historical costs would indicate a normative approach. • Question 19 There are only a few examples of accounting standards that emphasize the effects of transactions on the income statement to the exclusion of their impact on the balance sheet.

Reviews

There are no reviews yet.

Be the first to review “MAC/7100 MAC7100 MAC 7100 WEEK 4 MIDTERM”

Your email address will not be published. Required fields are marked *