AC3 - regulates companies that issue stock or bonds to the...

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1. Financial statements provide information about the performance of the company in the past. Why is this information relevant in business decision-making? (Points: 1) Companies always perform at least as well as they have in the past. Historical performance provides information for projections of future performance. The financial statements show the best that the company can be expected to perform. The financial statements are not relevant for current decision-making. 2. A Generally accepted accounting principles (Points: 1) are advisory guidelines for management are only applicable to balance sheets are to be followed in the preparation of financial statements can never be deviated from are uniform world-wide 3. The Securities and Exchange Commission (Points: 1)
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Unformatted text preview: regulates companies that issue stock or bonds to the public. audits every financial statement submitted by a public company. is the primary organization that sets GAAP. advises companies on their business strategies and performance. 4. What are the best sources for the financial statements of public companies on the Internet? (Points: 1) Yahoo Finance website Securities and Exchange Commission website New York Stock Exchange website AICPA website 5. What information is in common on the 10-K filed with the SEC and an annual report posted at a company website? (Points: 1) Photographs of the company products and employees Listing of employee salaries Financial Statement Footnotes Company President's Letter...
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