week 1 acct - Quiz:Week1QuizACCT3311(Page 1 of 1) 1.) The...

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Quiz: Week 1 Quiz - ACCT 3311  (Page 1 of 1) 1.) The primary focus for financial accounting information is to provide information useful for: Investing Decisions And Crdit Decisions A. Yes, Yes B. Yes No C. No Yes D. No No 2/50 2.) Which of the following is not true about net operating cash flow? A. It is the difference between cash receipts and cash disbursements from providing goods and services. B. It is a measure used in accrual accounting and is recognized as the best predictor of future operating cash flows. C. Over short periods of time, it may not be indicative of long-run cash-generating ability.
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D. It is easy to understand and all information required to measure it is factual. 2/50 3.) In a recent annual report, Apple Computer reported the following in one of its disclosure notes: "Warranty Expense: The Company provides currently for the estimated cost for product warranties at the time the related revenue is recognized." This note exemplifies Apple's use of: A. Conservatism B. The matching principle C. Realization principle D. Full disclosure principle 2/50 4.) GAAP is an abbreviation for: A. Generally authorized accounting procedures. B. Generally applied accounting procedures. C. Generally accepted auditing practices.
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D. Generally accepted accounting principles. 2/50
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This note was uploaded on 08/28/2011 for the course ACCT ACCT3312 taught by Professor Moses during the Spring '09 term at The University of Texas at San Antonio- San Antonio.

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week 1 acct - Quiz:Week1QuizACCT3311(Page 1 of 1) 1.) The...

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