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    jaggyemt's Avatar
    jaggyemt Posts: 8, Reputation: 1
    New Member
    		  
    #1

    Feb 7, 2007, 05:39 PM
    Seeking accounting expertise
    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
    KongTheKonqueror's Avatar
    KongTheKonqueror Posts: 75, Reputation: 13
    Junior Member
    		  
    #2

    Feb 7, 2007, 07:42 PM
    1. D
    2. D
    3. C
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
    		  
    #3

    Feb 8, 2007, 09:56 PM
    I agree with Kong's answers.

    D, D, C
    Sirsir's Avatar
    Sirsir Posts: 2, Reputation: 1
    New Member
    		  
    #4

    Feb 9, 2007, 11:58 AM
    Quote 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
    1. D
    2. D
    3. C
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