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-   -   Accounting problem- need help (https://www.askmehelpdesk.com/showthread.php?t=25910)

  • May 10, 2006, 05:00 PM
    GPatton
    Accounting problem- need help
    Which of the following statement about long-term assets and disclosures is true?

    a. A business must disclose every depreciacle asset it owns in the financil statement.
    b.Disclosure of PP&E asset by major categories provides decision makers with insight on a company's cash flow expenditures.
    c. The choice of a depreciation method can significantly influence a company's apparent financial condition and reported profits.
    d.Companies often choose to use accelerated depreciation for their income statements and straight-line depreciation for tax returns.
    e. a business should match any debt used to purchase a long-term asset with the long-term asset that debt was used to purchased in the financial statement.

    I believe is C, but not sure.

    Thank you
  • May 10, 2006, 05:26 PM
    CaptainForest
    C looks like a good answer. Maybe A as well. I hate MC questions...

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