Select Yes or No for each statement below: a. Information that provides feedback about prior expectations is b. Information that is neutral is c. Determines the economic events to be shown in financial statements d. Considered an enhancing characteristic Relevant Faithfully Represented

Q: Financial information that is capable of making a difference in a decision is a) relevat b)…

A: Fundamental qualities of financial information should be: 1. Relevance 2. Faithful representative.

Q: Why must financial statements be relevant? Name and discuss the 3 items that make Financial…

A: The relevance of financial statements is crucial because they provide information that is useful to…

Q: According to the conceptual framework (2018) The objective of financial reporting is to provide…

A: The conceptual framework for financial reporting, as of 2018, establishes a fundamental guideline…

Q: Which one of the following is not a type of measure used in the Balance scorecard?

A: The business organizations has employees in their various departments and on different level…

Q: Controls that measure variables that influence future profitability are called Select one: a. output…

A: Controls are necessary part to see whether the plans are going as per direction or not. The controls…

Q: According to the Conceptual framework, part of the reason for production of financial statements is…

A: Advantages of Conceptual Framework: Consistency and Comparability: The conceptual framework…

Q: 3. Financial information that is capable of making a difference in a decision is a. faithfully…

A: Fundamental qualities of financial information should be: 1. Relevance 2. Faithful representative.

Q: The Royal Corporation reported profit for 2012 of P177,500. Royal began the year with 100,000 shares…

A: Basic earnings per share means how much net income is attributable to each equity share in the…

Q: Match the ratio to the building block of financial statement analysis to which it best relates.A.…

A: Times interest earned ratio is used to measure ability of the company to pay it's debt payment.…

Q: Which of the following is not represented in the balancedscorecard?a. A learning and growth…

A: Balanced scorecard: It can be defined as a performance metric that is used by the business for…

Q: interim financial statements can be described as emphasizing

A: Interim financial statements are financial statements prepared during certain intervals within an…

Q: Critically explain each one of the following financial terms: i. Asymmetric information ii. Moral…

A: Asymmetrical information will be existing in the market because markets are not completely efficient…

Q: An analyst who is interested in assessing a company’s fi nancial position is most likely to focus on…

A: Income statement summarizes the revenues, costs and expenses incurred during a specific period of…

Q: Explain what the relationship between accounting and the broader social economic and environmental…

A: Accounting is the process of recording, classifying, and summarizing financial transactions to…