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LLS6e Ch 05 MC Quizzes - Libby/Libby/Short6e 1 ,unbiased, A...

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Libby/Libby/Short 6e Chapter 5 – Multiple-Choice Quizzes 1 Information that is accurate, unbiased, and verifiable is called A) relevant information. B) reliable information. C) consistent information.                              D)   comparable information. Answer B 2 Which of the following reports filed with the SEC is an annual report that includes a description of the  company's products, product development, sales and marketing, manufacturing, and competitors? A) Form 10-K B) Form 10-Q C) Form 8-K D) Form 1040 Answer A 3 Consider the following:   Financial statement  item Classification A. Inventory Current asset B. Intangible assets Noncurrent asset C. Accrued expenses Current asset D. Bonds payable Long-term liabilities Which line of the chart shows an incorrect financial-statement classification? A) Line A B) Line B C) Line C D) Line D Answer C 4
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