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FINA 363 - 21 General-purpose financial statements are the...

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21. General-purpose financial statements are the product of a. financial accounting. b. managerial accounting. c. both financial and managerial accounting. d. neither financial nor managerial accounting. financial accounting. 22. Users of financial reports include all of the following except All of these are users. 23. The financial statements most frequently provided include all of the following except the statement of retained earnings. 24. The information provided by financial reporting pertains to individual business enterprises, rather than to industries or an economy as a whole or to members of society as consumers P 25. The process of identifying, measuring, analyzing, and communicating financial information needed by management to plan, evaluate, and control an organization’s operations is called a. financial accounting. b. managerial accounting. c. tax accounting. d. auditing. managerial accounting.
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26. Whether a business is successful and thrives is determined by all of these. 27. An effective capital allocation process all of these 28. Financial statements in the early 2000s provide information related to hard assets (inventory and plant assets). 29. Which of the following statements is not an objective of financial reporting? a. Provide information that is useful in investment and credit decisions. b. Provide information about enterprise resources, claims to those resources, and changes to them. c. Provide information on the liquidation value of an enterprise. d. Provide information that is useful in assessing cash flow prospects. Provide information on the liquidation value of an enterprise.
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