Chapter 6-Sol. of assigned problems

Chapter 6-Sol. of assigned problems - Chapter 6...

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Chapter 6 Communicating and Interpreting Accounting Information MULTIPLE CHOICE QUESTIONS 1. c; 2. d; 3. a; 4. a; 5. c; 6. b; 7. b; 8. c; 9. b; 10. d. E6–1 Players Definitions E (1) OSC D (2) Independent auditor H (3) Institutional investor C (4) CEO and CFO B (5) Creditor A (6) Financial analyst G (7) Private investor F (8) Information service A. Adviser who analyzes financial and other economic information to form forecasts and stock recommendations. B. Financial institution or supplier that lends money to the company. C. Chief executive officer and chief financial officer who have primary responsibility for the information presented in financial statements. D. Independent accountant who examines financial statements and attests to their fairness. E. Ontario Securities Commission which regulates financial disclosure requirements. F. A company that gathers, combines, and transmits (paper and electronic) financial and related information from various sources. G. Individual who purchases shares in companies. H. Manager of pension, mutual and endowment funds that invests funds on the behalf of others. E6–7 Qualitative Characteristics __H__ (1)Relevance __C__ (2)Timeliness __E__ (3) Predictive value __F__ (4) Feedback value __ I __ (5)Reliability
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__ J__ (6)Verifiability __B__ (7) Representational faithfulness __D__ (8)Neutrality __G__ (9)Comparability __A__ (10) Consistency E6–11 Req. 1 Shaw Communications Inc. Consolidated Balance Sheet As at the end of the current year (August 31) (in millions of Canadian dollars) ASSETS Current assets Accounts receivable, net 89.5 Prepaid expenses and other 9.3 Total current assets
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Chapter 6-Sol. of assigned problems - Chapter 6...

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