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Unformatted text preview: he language of
business and the role of
accounting information in making
economic decisions True / False 3. awar d: 5 out of
Generally accepted accounting principles were established by the American Accounting Association in 1934 and
are updated annually by Congress.
Learning Objective: 0106 Identify
and discuss several professional
organizations that play important
roles in preparing and
information. True / False 4. awar d: 5 out of
The statement of financial position and the income statement are one and the same.
False True / False e z to.mhe c loud.mc gr a w- hill.c om/hm_a c c ounting.tpx? todo= pr intvie w Learning Objective: 0103 Explain
the importance of financial
accounting information for external
parties—primarily investors and
creditors—in terms of the
objectives and the characteristics
of that information. 2/7 11/18/13 5. Assignme nt Pr int Vie w awar d: 5 out of
A statement of cash flows depicts the way profits have changed during a designated period.
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This document was uploaded on 03/03/2014 for the course MGMT ACCOU 2300 at Rensselaer Polytechnic Institute.
- Fall '08