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Kingballer · Feb 28, 2010, 06:33 PM

I am having problems with the following accounting multiple choice problems.
Hope someone can help me.
I hope someone can help me soon as these problems are due in a day.

1.Which one of the following is not an objective of inancial reporting according to the conceptual framework?

A.To provide informaiton that will increase the value of the company
B.To provide information in assessing the future cash flows
C. To provide information that is useful for making investment and credit decisions
D.To provide information that identifies economic resourses and claims

2.Which of the following is not a goal of financial reporting?
a.(to provide informaion that is) useful to those makiing investment decisions
b.. . or useful to those making credit decisions
c... in understanding everything about the company
d.. . that identifies changes in resources and claims

3.An overriding criterion in evaluating the accounting information to be presented is
a. fairness
b.legality
c. management's goals
d. decision usefulness

4. In order for accounting information to be relevant, it must
a.have very little cost
b. have predictive or feeback value
c.not be reported to the public
d. be used by a lot of different firms.

5. Accounting informaation should be verifiable in order to enhance
a.comparablility
b.relability
c.consistency
d. feedback value

6.if accoungint information has perdictive value, it is useful in makng predictions about
a.future IRS audits
b. new accounting principles
c.foreign currency exchange rates
d.the outcomes of past, present, and future events of a company

morgaine300 · Feb 28, 2010, 10:18 PM

Well... this isn't the place to try to get last-minute help. We're here voluntarily and don't monitor the place 24/7. And your deadlines are your responsibility. The time to come is well ahead of your deadlines so you have time to try to get an understanding of things.

We also do not just answer homework for you, but rather check your work or help you to understand it. If you want to take a crack at them, someone may be around to check your answers.