1. A statement that the financial statements were prepared in accordance with generally accepted accounting principles is found in the

a. collateral
b. stock market
c. footnotes of the balance sheet
d. auditor's report

2. Which one of the following is violated when a company recognizes revenue upon the receipt of cash from a customer who has paid in advance for services?

a. expense policy
b. objectivity
c. matching
d. revenue recognition criteria

3. Return on equity helps assess a company's

a. marketability
b. solvency
c. profitability
d. leverage

1. D
2. D
3. C

I agree with Kong's answers.

D, D, C

Quote:

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Originally Posted by jaggyemt

1. A statement that the financial statements were prepared in accordance with generally accepted accounting principles is found in the

a. collateral
b. stock market
c. footnotes of the balance sheet
d. auditor's report

2. Which one of the following is violated when a company recognizes revenue upon the receipt of cash from a customer who has paid in advance for services?

a. expense policy
b. objectivity
c. matching
d. revenue recognition criteria

3. Return on equity helps assess a company's

a. marketability
b. solvency
c. profitability
d. leverage

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1. D
2. D
3. C