IFRS and U.S. GAAP are most similar in their requirements for:
A. Extraordinary items.
B. Discontinued operations.
C. Valuation of fixed assets.
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In a transaction referred to as a management buyout (MBO):
A. Management sells its shares to an investor group attempting to gain control of a company.
B. Management buys a controlling interest in a public company to gain control of the board of directors.
C. An investor group that includes management buys all the shares of a company and they no longer trade on an exchange.
Which of the following ratios is a component of the original (three-part) DuPont equation?
Asset turnover.
B. Gross profit margin.
C. Debt-to-equity ratio.
Of the following methods of examining the uncertainty of financial outcomes around point estimates, which answers hypothetical questions about the effect of changes in a single variable and which uses
A. Sensitivity analysis Simulation
B. Scenario analysis Simulation
C. Scenario analysis Sensitivity analysis
Which of the following items is best described as a listing of all the journal entries in order of their dates?
A. Trial ledger.
B. General ledger.
C. General journal.