Accounting

In what ways is management motivated to engage in earnings management?

In what ways is management motivated to engage in earnings management?

In what ways is management motivated to engage in earnings management?

jonathanvsjkgof   33   2 Replies

jonathanvsjkgof

What are the most common approaches management uses to manipulate earnings?

What are the most common approaches management uses to manipulate earnings?

What are the most common approaches management uses to manipulate earnings?

asdf300   27   1 Reply

BXIUte4281

Identify and describe the two primary factors that impact earnings quality.

Identify and describe the two primary factors that impact earnings quality.

Identify and describe the two primary factors that impact earnings quality.

brendatanmy   47   1 Reply

Kedavra

What is the most common approach to earnings management?

What is the most common approach to earnings management?

What is the most common approach to earnings management?
A) manipulate revenues and gains
B) manipulation of expenses and losses
C) exploit business combinations
D) engage in fraudulent activity

Alehandrax   20   3 Replies

claire_sher123

Which of the following is an earnings management technique that involves increasing a current loss ...

Which of the following is an earnings management technique that involves increasing a current loss ...

Which of the following is an earnings management technique that involves increasing a current loss to show a future increase in net income?
A) inversion
B) comprehensive counting
C) big bath
D) cookie jar reserves

christyjames   55   2 Replies

christyjames

Each of the following is a motivation to engage in earnings management except ________.

Each of the following is a motivation to engage in earnings management except ________.

Each of the following is a motivation to engage in earnings management except ________.
A) beat benchmarks
B) avoid reporting a loss
C) separate other comprehensive income from net income
D) present a smooth, upwards trend in earnings

Prenella10   45   2 Replies

Prenella10

Which of the following statements about earnings quality is false?

Which of the following statements about earnings quality is false?

Which of the following statements about earnings quality is false?
A) Earnings quality is enhanced when managers are afforded discretion and judgment in applying accounting standards.
B) Permanent earnings result in higher earnings quality, while t

Ace_AZ   47   2 Replies

Ace_AZ

Which of the following income statement items is considered to be permanent?

Which of the following income statement items is considered to be permanent?

Which of the following income statement items is considered to be permanent?
A) gains on disposal of equipment
B) impairment losses
C) interest expense
D) discontinued operations

fifadaniel   26   1 Reply

mitheorem

Elements of other comprehensive income are primarily permanent in nature.

Elements of other comprehensive income are primarily permanent in nature.

Elements of other comprehensive income are primarily permanent in nature.
[True or False]

Chanta35   21   1 Reply

umadbra84

Most elements of operating income are permanent in nature.

Most elements of operating income are permanent in nature.

Most elements of operating income are permanent in nature.
[True or False]

hauser27584   27   3 Replies

BXIUte4281

How does the fact that accounting standards allow managers to exercise their professional judgment ...

How does the fact that accounting standards allow managers to exercise their professional judgment ...

How does the fact that accounting standards allow managers to exercise their professional judgment when making accounting policy decisions constitute a limitation of the income statement?

AdamPG14   38   2 Replies

AdamPG14

In what ways do the accounting standards allow companies to report comprehensive income in the ...

In what ways do the accounting standards allow companies to report comprehensive income in the ...

In what ways do the accounting standards allow companies to report comprehensive income in the financial statements?

ElsaTier99   36   3 Replies

claire_sher123

Which statement is true about the computation of net income and comprehensive income?

Which statement is true about the computation of net income and comprehensive income?

Which statement is true about the computation of net income and comprehensive income?
A) They are the same under either reporting alternative.
B) The one statement format provides a higher net income than the two consecutive statements format.
C)

moonflowerz   35   1 Reply

justjocelynn97

Which of the following is considered to be a characteristic of the usefulness of income statements?

Which of the following is considered to be a characteristic of the usefulness of income statements?

Which of the following is considered to be a characteristic of the usefulness of income statements?
A) Income statements require judgment.
B) Income statements evaluate past performance.
C) Income statements depend on the accounting methods select

jboutdy   19   2 Replies

jboutdy

Which of the following is considered to be a limitation of income statements?

Which of the following is considered to be a limitation of income statements?

Which of the following is considered to be a limitation of income statements?
A) Income statements depend on accounting methods selected.
B) Income statements evaluate past performance.
C) Income statements assess uncertainties of achieving future

mrsbmarie   26   2 Replies

mrsbmarie

Comprehensive income may be reported in the financial statements in either of two formats.

Comprehensive income may be reported in the financial statements in either of two formats.

Comprehensive income may be reported in the financial statements in either of two formats.
[True or False]

sann0001   28   3 Replies

dlarose

Other comprehensive income is comprised of elements explicitly excluded from net income.

Other comprehensive income is comprised of elements explicitly excluded from net income.

Other comprehensive income is comprised of elements explicitly excluded from net income.
[True or False]

MsCorrine   34   2 Replies

MsCorrine

Comprehensive income is comprised of elements explicitly excluded from net income.

Comprehensive income is comprised of elements explicitly excluded from net income.

Comprehensive income is comprised of elements explicitly excluded from net income.
[True or False]

MichaelJoult   34   2 Replies

MichaelJoult

The two parts that compose comprehensive income are operating income and net income.

The two parts that compose comprehensive income are operating income and net income.

The two parts that compose comprehensive income are operating income and net income.
[True or False]

stfajar   60   2 Replies

stfajar

The December 31 financial statements of Jagger Company included the effects of the following transactions:

The December 31 financial statements of Jagger Company included the effects of the following transactions:

The December 31 financial statements of Jagger Company included the effects of the following transactions:

a. Wages of $6,800 were recorded. These wages will be paid on January 2.
b. Interest expense of $750 that will be paid on February 1 was re

Blondebombshell   40   2 Replies

Blondebombshell

On December 31, Griffin Company accrued interest revenue of $425 on a $17,000, 10% note. The annual ...

On December 31, Griffin Company accrued interest revenue of $425 on a $17,000, 10% note. The annual ...

On December 31, Griffin Company accrued interest revenue of $425 on a $17,000, 10% note. The annual interest payment will be made on October 1. The reversing entry will include a(n) ________.
A) credit to Interest Revenue for $1275
B) debit to Inte

rogers   29   3 Replies

lheck874

Carroll Company accrued interest of $440 on a $11,000, 8% note payable at December 31. The annual ...

Carroll Company accrued interest of $440 on a $11,000, 8% note payable at December 31. The annual ...

Carroll Company accrued interest of $440 on a $11,000, 8% note payable at December 31. The annual interest payment will be made on July 1. The reversing entry will include a(n) ________.
A) credit to Interest Payable for $440
B) debit to Notes Paya

laurenamarissa   37   2 Replies

laurenamarissa

Powers Company accrued unpaid wages of $3000 on January 31. These wages will be included in ...

Powers Company accrued unpaid wages of $3000 on January 31. These wages will be included in ...

Powers Company accrued unpaid wages of $3000 on January 31. These wages will be included in paychecks totaling $7000 on February 2. The reversing entry will include a(n) ________.
A) credit to Cash for $3000
B) debit to Wages Payable for $7000
C)

ElsaTier99   59   3 Replies

bvgdfdfs3

Which of the following transactions would never be reversed in the following period?

Which of the following transactions would never be reversed in the following period?

Which of the following transactions would never be reversed in the following period?
A) accrual of interest revenue
B) accrual of wages expense
C) assignment of depreciation expense
D) accrual of interest expense

moonflowerz   25   3 Replies

hoofygoofy

Reversing entries are used in connection with accrued revenues and accrued expenses.

Reversing entries are used in connection with accrued revenues and accrued expenses.

Reversing entries are used in connection with accrued revenues and accrued expenses.
[True or False]

Mr.Cleand   44   2 Replies

Mr.Cleand

Reversing entries change the amounts reported in previously issued financial statements.

Reversing entries change the amounts reported in previously issued financial statements.

Reversing entries change the amounts reported in previously issued financial statements.
[True or False]

Luikennoah   32   2 Replies

Luikennoah

List the steps in preparing a worksheet.

List the steps in preparing a worksheet.

List the steps in preparing a worksheet.

U2rodksyidj   37   3 Replies

okaythisisreal2

Step 4 in completing the worksheet is to create the ________.

Step 4 in completing the worksheet is to create the ________.

Step 4 in completing the worksheet is to create the ________.
A) Income statement
B) Balance Sheet
C) Adjusted Trial Balance
D) Both A and B

mattkat1010   31   2 Replies

mattkat1010

The first step in preparing a worksheet is to ________.

The first step in preparing a worksheet is to ________.

The first step in preparing a worksheet is to ________.
A) place adjusted trial balance amounts in appropriate income statement and balance sheet columns
B) compute the adjusted balance in the adjusted trial balance columns
C) enter the adjusting

zurainzlpt   38   2 Replies

zurainzlpt

The final step in preparing a worksheet is to compute net income or loss.

The final step in preparing a worksheet is to compute net income or loss.

The final step in preparing a worksheet is to compute net income or loss.
[True or False]

Luikennoah   35   1 Reply

RLF

The first step in preparing a worksheet is to record the adjusting journal entries.

The first step in preparing a worksheet is to record the adjusting journal entries.

The first step in preparing a worksheet is to record the adjusting journal entries.
[True or False]

brendatanmy   52   1 Reply

hfchfch

Selected transactions of Ventura Corporation are presented below:

Selected transactions of Ventura Corporation are presented below:

Selected transactions of Ventura Corporation are presented below:

March 1Received $9,000 in payment for 6 months advance rent from Franken Company and recorded it as rent revenue.
May 1Paid Acme Insurance $6,000 for a 2 year liability policy and

dwayned   24   2 Replies

dwayned

New York Enterprises provides advertising services to travel agencies. The company bills annually ...

New York Enterprises provides advertising services to travel agencies. The company bills annually ...

New York Enterprises provides advertising services to travel agencies. The company bills annually and receives payments in advance. All advertising is earned equally each month. In January, the company received $120,000; in February, it received $144

untilwexo   48   1 Reply

ghana

On July 1, Madrid Corporation received $10,200 from New Iberia Company for six months rent on a ...

On July 1, Madrid Corporation received $10,200 from New Iberia Company for six months rent on a ...

On July 1, Madrid Corporation received $10,200 from New Iberia Company for six months rent on a factory building and recorded it as a revenue. What adjusting entry will Madrid make on August 31?

A)
Prepaid Rent6800
      Rent Revenue6800

B)

tori.warner   92   1 Reply

marisastudies

On March 31, Paris Enterprises received $26,000 in payment for annual advertising contracts and ...

On March 31, Paris Enterprises received $26,000 in payment for annual advertising contracts and ...

On March 31, Paris Enterprises received $26,000 in payment for annual advertising contracts and recorded it as advertising revenue.  If the revenue is earned equally each month, the adjusting entry on June 30 will include a(n) ________. (Do not round

bgottlieb410   30   1 Reply

Kedavra

Snowden Company purchased a 2 year insurance policy on March 31 for $8000 and charged the entire ...

Snowden Company purchased a 2 year insurance policy on March 31 for $8000 and charged the entire ...

Snowden Company purchased a 2 year insurance policy on March 31 for $8000 and charged the entire amount to Insurance Expense. The adjusting entry on December 31 will include ________.
A) a credit to Insurance Expense for $5000
B) a credit to Prepai

vsisto   55   2 Replies

vsisto

Unearned revenues may be initially recorded as assets or expenses.

Unearned revenues may be initially recorded as assets or expenses.

Unearned revenues may be initially recorded as assets or expenses.
[True or False]

redesace90   56   2 Replies

redesace90

Unearned revenues may be initially recorded as liabilities or revenues.

Unearned revenues may be initially recorded as liabilities or revenues.

Unearned revenues may be initially recorded as liabilities or revenues.
[True or False]

jj88888nb   64   2 Replies

jj88888nb

If a prepaid expense is recorded as an expense, and the adjusting entry is not made at the end of ...

If a prepaid expense is recorded as an expense, and the adjusting entry is not made at the end of ...

If a prepaid expense is recorded as an expense, and the adjusting entry is not made at the end of the period, expenses on the income statement will be overstated.
[True or False]

mkama   56   2 Replies

mkama

If a prepaid expense is recorded as an expense and, and the adjusting entry is not made at the end ...

If a prepaid expense is recorded as an expense and, and the adjusting entry is not made at the end ...

If a prepaid expense is recorded as an expense and, and the adjusting entry is not made at the end of the period, assets on the balance sheet will be overstated.
[True or False]

rajbir   63   1 Reply

juice9979