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Questions asked by the same visitor
Assets are reported on the firm's balance sheet
Question
Updated 1/7/2012 9:30:55 PM
True. Assets are reported on the left side of a balance sheet. Liabilities and Owner's Equity are reported on the right side.
Confirmed by jeifunk [2/3/2014 10:54:56 AM], Rated good by jeifunk
A financial manager makes recommendations to top executives regarding strategies for improving the financial strength of a firm
Weegy: True. FINANCIAL MANAGERS are managers who make recommendations to top executives regarding strategies for improving the financial strength of a firm. http://faculty.ccbcmd.edu/~jwhitelo/mngt101/ppt/Chapter%2018.ppt. (More)
Question
Updated 2/3/2014 10:56:40 AM
If the goal of a business is to pay lower taxes on its income during an inflationary period, it is likely to use the FIFO inventory costing method.
Question
Updated 1/7/2012 9:29:37 PM
False. During an inflationary period, prices are rising. Under LIFO (last in last out) inventory costs deducted from sales would be higher, resulting in lower net income and lower taxes.
To be effective, an internal auditor must be critical of any improprieties or deficiencies found in the financial activities of the firm.
Weegy: Yes Weegy agrees to your statement. :) So any other concerns with an "internal auditor" we can help you!? [smile] (More)
Question
Julio borrowed money from a close friend to obtain a liquor license for his pub, and gave him a written promise to repay the amount within six months. Julio should list this business debt as an operating expense on his pub's balance sheet.
Question
Updated 1/7/2012 9:41:59 PM
False. Expenses are not listed on a balance sheet. They are listed on the income statement. The loan should be listed as a current liability on the balance sheet.
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