It is a false statement that a financial accounting focuses on the needs of external users who get accounting information from general-purpose financial statements.
<h3>Who are
external users of financial accounting?</h3>
An investors is the most common external users of financial statements because they make and assess their investment decisions by using relevant financial information in a company's financial statements
But external users of financial accounting such as shareholders, boards also uses the financial accounting, therefore, It is a false statement that a financial accounting focuses on the needs of external users who get accounting information from general-purpose financial statements.
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Options:
A) defensive; inject
B) defensive; drain
C) dynamic; inject
D) dynamic; drain
Answer:
Correct option is A.
Explanation:
If Treasury deposits at the Fed are predicted to <u>increase</u>, the manager of the trading desk at the New York Fed bank will likely conduct <u>defensive</u> open market operations to <u>inject </u>reserves.
Answer:
For accrual basis:
(1) record revenues when earned
For cash basis:
(3) record revenue when cash is received
Explanation:
As per accounting systems:
Accrual basis follows the periodic system in which revenues and expenses are recorded as and when they are incurred, as for revenue when it is earned, and for the period to which it relates is recorded at that time,
As in this it does not matter that cash is received in advance or after some period, the transfer of risk and reward matters.
In the case of cash basis all expenses and revenues are recorded as and when there is any cash inflow or outflow related to the same.
Answer:
It does not appeal to me lol.
Explanation:
If it does appeal then it will probably be the free icecreams. Plus you can have whatever toppings and designs you want!
