BUSINESS ADMINISTRATION
PRINCIPLES AND PRACTICE OF MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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There is no point in comparing your financial statements with those of another company.
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True
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False
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Explanation:
Detailed explanation-1: -Which of the following statements is true of the matching principle? It requires that expenses incurred in producing revenue be deducted from the revenues they generate during an accounting period.
Detailed explanation-2: -Which of the following problems may cause financial statements to be inaccurate? Failing to follow a specific budget.
Detailed explanation-3: -Answer and Explanation: The answer is a. A common-size income statement presents each item as a percentage of net sales.
Detailed explanation-4: -The balance sheet demonstrates that the company’s resources (assets) equal creditors’ claims (liabilities) plus owners’ claims (stockholders’ equity) to those resources on a particular date.
There is 1 question to complete.