20/21 mid
The most significant current source of generally acceptedaccounting principles is the:
a. New York Stock Exchange.
b. Accounting Principles Board.
c. Accounting Research Studies.
d. AICPA committee on Accounting Procedure.
e. Financial Accounting Standards Board.
20/21 mid
The most significant current source of generally acceptedaccounting principles is the:
| a. | New York Stock Exchange. | |
| b. | Accounting Principles Board. | |
| c. | Accounting Research Studies. | |
| d. | AICPA committee on Accounting Procedure. | |
| e. | Financial Accounting Standards Board. |
Related questions
Managerial accounting information is restricted by which of the following authorities or principles?
| a. | Value Added Principle | |
| b. | Generally Accepted Accounting Principles | |
| c. | Securities and Exchange Commission | |
| d. | Financial Accounting Standards Board |
Which of the following costs is not considered to be an inventory (product) cost?
| a. | Raw material | |
| b. | Production wages | |
| c. | Depreciation of delivery vehicles | |
| d. | Factory utilities |
Which of the following is a characteristic of managerial accounting information?
| a. | It is historically based. | |
| b. | It is regulated by the SEC. | |
| c. | It is directed to external users. | |
| d. | It involves continuous reporting. |
Carson Manufacturing Company recognized accrued compensation for sales staff. Which of the following choices accurately reflects how this event would affect the company's financial statements?
| a. | decrease one asset account and decrease an equity account. | |
| b. | increase one asset account and decrease another asset account. | |
| c. | increase one liability account and increase an asset account. | |
| d. | increase one liability account and decrease an equity account. |
