Write in one column 2 two 2 marks will be awarded for

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Unformatted text preview: olumn. 2. Two (2) marks will be awarded for each correct answer and half (½) mark will be deducted for each incorrect answer. No mark will be deducted for unanswered questions. Q1. Current assets are assets expected to a. b. c. d. be converted to cash within twelve months. be converted to cash within twelve months or one operating cycle if longer than twelve months. be converted to cash within twelve months or one operating cycle if shorter than twelve months remain on the books for at least twelve months or one operating cycle if longer than twelve months Q2. Analysts must be aware that with the use of absorption costing, as inventory level increases, reported profit tends to a. b. c. d. Increase Decrease remain the same None of the above Q3. Which of the following actions would likely be considered "earnings management”? a. b. c. d. Delaying payment on overdue payables due to cashflow difficulties. Creating provision accounts for estimated future obligations which are probable. Recognizing r...
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