The balanced scorecard measures a.only financial information b.only nonfinancial information c.external and internal information d.both financial and nonfinancial information

Q: Prepare the Statement of Financial Performance and Financial Position in good form.

A: Statement of Financial Performance: It is also known as the Income Statement or Statement of Profit…

Q: Financial information that is capable of making a difference in a decision is a) relevat b)…

A: Fundamental qualities of financial information should be: 1. Relevance 2. Faithful representative.

Q: The expense recognition principle (“matching”) controlsa. Where on the income statement expenses…

A:

Q: Choose the correct. Which of the following items is required to be disclosed by geographic area?a.…

A: Information for the segment needs to be disclosed by geographic area. a. Total asset is the…

Q: The components of Statement of financial position will change because of many reasons. Take each and…

A: Statement of financial position can be defined as the summary of the financial balances of an…

Q: Relevant definition or description is: a. Relevant financial information is capable of making a…

A: With the help of the financial statements, the financial status or position will be identified. The…

Q: Which of the following facilitates the comparison of financial performance with one period to…

A: Financial performance can be compared if the business uses same policies and methods in all the…

Q: The fundamental qualitative characteristics that financial information must possess to be useful to…

A: Financial information is an information related to the finance of an organization. All the monetary…

Q: Which of the following is not an element of the financial statements? Multiple Choice Net income…

A: Solution:- Introduction:- The following items is not a element in financial statements as follows…

Q: Which one of the following is not one of the perspectives of the Balance scorecard? Select one: a.…

A: Balanced Scorecard is a performance management tool published by Dr. Kaplan in 1992. BSC classifies…

Q: The income statement includes Group of answer choices -expenditures, net worth, surplus or deficit.…

A: Income statement is one of the financial statements that helps in depicting the profitability of an…

Q: _________ is generally referred as a parameter to check/test the efficiency of the business concern.…

A: The primary objective to do business is to earn profit.

Q: The following is a list of qualitative characteristics of useful accounting information identified…

A: An independent body or organization which is involved in the preparation of financial accounting and…

Q: Forward-looking information Includes the following except Select one: O a. Measurement and…

A: Forward looking information is that information that helps in planning for the future.

Q: Select Yes or No for each statement below: a. Information that provides feedback about prior…

A: Relevant refers to the information which is generated through the accounting system and could impact…

Q: Match the ratio to the building block of financial statement analysis to which it best relates.A.…

A: Gross margin ratio = ( Total revenue - Cost of Goods sold ) / Total revenue.

Q: Financial statements includes Select one: a. Income statement and Statement of cost O b. Position…

A: The financial statements are the statements prepared to record the financial data of the business.

Q: The primary focus of horizontal analysis isa. the income statement only.b. the balance sheet only.c.…

A: Financial statements can be analysed by using two methods. 1) Vertical method. 2) Horizontal method.…

Q: Financial accounting deals with the following except Select one: a. Prepares the budgets and…

A: Solution:- Introduction:- Financial accounting deals with the preparation and presentation of…

Q: When a balance sheet amount is related to an income statement amount in comparing a ratio  a. The…

A: Solution: When a balance sheet amount is related to an income statement amount in comparing a ratio…

Q: Which of the following is related to conditions of credit? a. Competition b. Integrity c. Management…

A: Meaning of Credit -It is a term used in the contract that states a person provides a loan or advance…

Q: The base amount in preparing component percentages for a balance sheet is which of the following?…

A: The base amount in preparing component percentages for a balance sheet is the total assets or total…

Q: Discuss the four basic Assumptions that underline the financial Accounting Structures with example.…

A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…

Q: Choose the incorrect statement: a.) The objective of the external financial statements is to…

A: a) Basic purpose of an external financial statement is to communicate the economic effects of…

Q: Forward-looking information Includes the following except Select one: a. Forecasts of revenues,…

A: Forward-looking information means information that is not based on past records but an analysis of…

Q: The elements of financial statements which relate to measuring financial performance are a. Income,…

A: The elements of financial statements are Assets, Liabilities, Revenue, Expenses, and…

Q: Qualitative Characteristics The following is a list of qualitativecharacteristics of useful…

A: Accounting information is that collection of facts which is being provided to all stakeholders for…

Q: Which fundamental characteristic of requires that financial statements are prepared in a similar way…

A: option c is the correct answer.

Q: The IASB’s Framework for the Preparation and Presentation of Financial Statements gives qualitative…

A: The IASB’s Framework for the Preparation and Presentation of Financial Statements gives qualitative…

Q: Match the ratio to the building block of financial statement analysis to which it best relates.A.…

A: Times interest earned ratio is used to measure ability of the company to pay it's debt payment.…

Q: Under the historical cost accounting model the financial statement that is regarded as the most…

A: A financial statement is prepared by the management for users' decision making, it includes the…

Q: b. Compute the following Ratios: iv. Average Collection period v. Profit Margin vi. Debt to Total…

A: Ratio Analysis - The ratio is the technique used by the prospective investor or an individual or…

Q: comparison of financial performance with one period to another period is possible this is as a)…

A: Going concern assumption says that business will continue for unlimited number of year. Historical…

Q: The gain or loss on net monetary position is computed as a. The difference between the “net monetary…

A: In the period of inflation, an entity incurs purchasing power loss on holding of monetary assets and…

Q: Suggest a non-financial measure that can be used to evaluate the performance of the company as a…

A: Traditionally financial performances have been used to evaluate the performance of the corporate…

Q: hich one of the following is ascertained from the income and expenses of an entity A. Financial…

A: The revenues and expenses for the company are included in the income statement of the company.

Q: Below is a list of the qualitative characteristics identified in FASB Statement of Financial…

A: The financial accounting standard board is adopted to make the policies regarding the accounting…

Q: Common-size statements ________. A show the same percentages that appear in a horizontal analysis B…

A: A common size statement is prepared by expressing the line items of the statements as a percentage…

Q: financial ratios

A: Financial ratios are metrics used to measure the financial standing of an organization.

Q: Information is considered to be if it is of a nature that will influence the financial decisions of…

A: Comments; Multiple Questions asked Material information is the one that influences the financial…

Q: Match the items below by entering the appropriate code letter in the space provided. А. Relevance G.…

A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…

Q: Accounting is the process of matching Select one: a. Revenues and Costs b. Potential and Real…

A: Note: “Since you have asked multiple question, we will solve the first question for you. If you want…

Q: What is meant by comparability when discussing Qualitative Characteristics of Useful Financial…

A: Definition:

Q: Under AASB101 Presentation of Financial Statements, which of the following items, if it exists, must…

A: Solution: Revenue, Share of profit of associates and cost of sales are temporary accounts that are…