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almond37 [142]
2 years ago
10

What is the objective of financial reporting? Provide information that clearly portrays nonfinancial transactions. Provide infor

mation about the reporting entity that is useful to present and potential equity investors, lenders, and other creditors. Provide information that excludes claims to the resources. Provide information that is useful to management in making decisions.
Business
1 answer:
sladkih [1.3K]2 years ago
8 0

Answer:

Provide information about the reporting entity that is useful to present and potential equity investors, lenders, and other creditors.

Explanation:

Financial reporting refers to the presentation and disclosure of financial information of an entity to the public, investors, lenders and other stakeholder.

Financial reporting is carried out by reporting financial statements (balance sheet, income statements), statement of cash flows and other relevant/necessary disclosures, notes as required by law or statute or which are essential for better comprehension of such financial information.

Such information helps lenders to know the financial health of the entity, helps investors to decide whether it would be beneficial to invest in the entity, assures government of the compliance of laws by the entity, etc.

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In the Common Criteria, the common set of functional and assurance requirements for a category of vendor products deployed in a
Daniel [21]

Answer:

protection profiles.

Explanation:

Common Criteria can be defined as an international set of guidelines and specifications which are designed and developed for the evaluation of an information security product, in order to ensure that they meet an agreed-upon and specific security standard for general use by the public. It comprises of two (2) key components: Evaluation assurance level and protection profiles.

In the Common Criteria, the common set of functional and assurance requirements for a category of vendor products deployed in a particular type of environment are known as protection profiles.

5 0
3 years ago
On July 1, 20X9, Link Corporation paid $340,000 for all of Tinsel Company's outstanding common stock. On that date, the costs an
likoan [24]

Answer:

Goodwill = 25,000

Explanation:

Goodwill is an intangible asset, is the differential reflected in a consolidated balance sheet immediately after the business combination between the purchase price of a company and the fair market value of identifiable assets and liabilities. Goodwill is recorded when the purchase price is higher than the sum of the fair value of all identifiable tangible and intangible assets purchased in the acquisition and the liabilities assumed in the process.

In this case:

Goodwill = Purchse Price - Net assets fair value

Goodwill = 340,000 - 315,000

Goodwill = 25,000

The difference between the book value and fair value of the acquired company are adjustments to the amount presented in the consolidated balance sheet.

6 0
3 years ago
What is a challenge of starting a business?
Levart [38]

Answer:

Starting a business is a big achievement for many entrepreneurs, but maintaining one is the larger challenge. There are many standard challenges every business faces whether they are large or small. These include things like hiring the right people, building a brand, and so on.

Explanation:

4 0
3 years ago
Heidebrecht Design acquired 20% of the outstanding common stock of Quayle Company on January 1, 2014, by paying $800,000 for the
DedPeter [7]

Answer:

Detailed step wise solution is given below:

4 0
3 years ago
What amount of cash would result at the end of one year, if $15,000 is invested today and the rate of return is 8%
Leona [35]

Answer:

Amount of cash at the end of one year is $16,200

Explanation:

Amount invested = $15,000

Rate of return = 8%

Amount at the end of one year = $15,000 + (0.08×$15,000) = $15,000 + $1,200 = $16,200

6 0
3 years ago
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