Accounting and the Business Environment - Accounting
Card 1 of 16
accounting provides information for decision makers (e.g. outside investors and lenders); however, accounting focuses on information for decision makers (e.g. supervisors).
accounting provides information for decision makers (e.g. outside investors and lenders); however, accounting focuses on information for decision makers (e.g. supervisors).
Tap to reveal answer
"Financial. . . external. . . managerial. . . internal" is the correct choice. Accounting can be required into two fields: financial and managerial. Financial accounting provides data for outsiders, while managerial accounting provides data for insiders.
"Financial. . . external. . . managerial. . . internal" is the correct choice. Accounting can be required into two fields: financial and managerial. Financial accounting provides data for outsiders, while managerial accounting provides data for insiders.
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If the Alpha Corporation's 2015 alternative minimum taxable income was 
. Which of the following properly identifies the exempt portion of the Alpha Corporation's 2015 alternative minimum taxable income?
If the Alpha Corporation's 2015 alternative minimum taxable income was
Tap to reveal answer
This problem asks us to determine the exempt portion of the Alpha Corporation's alternative minimum taxable income (AMTI). A corporation is allowed an exemption of up to 
in computing it AMTI; however, this exemption is reduced by twenty-five percent of the corporation's AMTI in excess of 
. We can write this by using the following equation:
Substitute and solve.
This problem asks us to determine the exempt portion of the Alpha Corporation's alternative minimum taxable income (AMTI). A corporation is allowed an exemption of up to
Substitute and solve.
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Which of the following is not an accurate difference between the International Financial Reporting Standards (IFRS) and the Generally Accepted Accounting Principles (US GAAP)?
Which of the following is not an accurate difference between the International Financial Reporting Standards (IFRS) and the Generally Accepted Accounting Principles (US GAAP)?
Tap to reveal answer
"The US GAAP uses a principles based approach while the IFRS employs a rules based approach" is the correct answer. This is not an accurate difference between the IFRS and the USGAAP. The US GAAP typically employs a rules based approach while the IFRS follows a principles based approach. The other choices represent accurate differences between the IFRS and US GAAP according to the International Accounting Standards Committee.
"The US GAAP uses a principles based approach while the IFRS employs a rules based approach" is the correct answer. This is not an accurate difference between the IFRS and the USGAAP. The US GAAP typically employs a rules based approach while the IFRS follows a principles based approach. The other choices represent accurate differences between the IFRS and US GAAP according to the International Accounting Standards Committee.
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accounting provides information for decision makers (e.g. outside investors and lenders); however, accounting focuses on information for decision makers (e.g. supervisors).
accounting provides information for decision makers (e.g. outside investors and lenders); however, accounting focuses on information for decision makers (e.g. supervisors).
Tap to reveal answer
"Financial. . . external. . . managerial. . . internal" is the correct choice. Accounting can be required into two fields: financial and managerial. Financial accounting provides data for outsiders, while managerial accounting provides data for insiders.
"Financial. . . external. . . managerial. . . internal" is the correct choice. Accounting can be required into two fields: financial and managerial. Financial accounting provides data for outsiders, while managerial accounting provides data for insiders.
← Didn't Know|Knew It →
accounting provides information for decision makers (e.g. outside investors and lenders); however, accounting focuses on information for decision makers (e.g. supervisors).
accounting provides information for decision makers (e.g. outside investors and lenders); however, accounting focuses on information for decision makers (e.g. supervisors).
Tap to reveal answer
"Financial. . . external. . . managerial. . . internal" is the correct choice. Accounting can be required into two fields: financial and managerial. Financial accounting provides data for outsiders, while managerial accounting provides data for insiders.
"Financial. . . external. . . managerial. . . internal" is the correct choice. Accounting can be required into two fields: financial and managerial. Financial accounting provides data for outsiders, while managerial accounting provides data for insiders.
← Didn't Know|Knew It →
If the Alpha Corporation's 2015 alternative minimum taxable income was . Which of the following properly identifies the exempt portion of the Alpha Corporation's 2015 alternative minimum taxable income?
If the Alpha Corporation's 2015 alternative minimum taxable income was
Tap to reveal answer
This problem asks us to determine the exempt portion of the Alpha Corporation's alternative minimum taxable income (AMTI). A corporation is allowed an exemption of up to in computing it AMTI; however, this exemption is reduced by twenty-five percent of the corporation's AMTI in excess of . We can write this by using the following equation:
Substitute and solve.
This problem asks us to determine the exempt portion of the Alpha Corporation's alternative minimum taxable income (AMTI). A corporation is allowed an exemption of up to
Substitute and solve.
← Didn't Know|Knew It →
Which of the following is not an accurate difference between the International Financial Reporting Standards (IFRS) and the Generally Accepted Accounting Principles (US GAAP)?
Which of the following is not an accurate difference between the International Financial Reporting Standards (IFRS) and the Generally Accepted Accounting Principles (US GAAP)?
Tap to reveal answer
"The US GAAP uses a principles based approach while the IFRS employs a rules based approach" is the correct answer. This is not an accurate difference between the IFRS and the USGAAP. The US GAAP typically employs a rules based approach while the IFRS follows a principles based approach. The other choices represent accurate differences between the IFRS and US GAAP according to the International Accounting Standards Committee.
"The US GAAP uses a principles based approach while the IFRS employs a rules based approach" is the correct answer. This is not an accurate difference between the IFRS and the USGAAP. The US GAAP typically employs a rules based approach while the IFRS follows a principles based approach. The other choices represent accurate differences between the IFRS and US GAAP according to the International Accounting Standards Committee.
← Didn't Know|Knew It →
accounting provides information for decision makers (e.g. outside investors and lenders); however, accounting focuses on information for decision makers (e.g. supervisors).
accounting provides information for decision makers (e.g. outside investors and lenders); however, accounting focuses on information for decision makers (e.g. supervisors).
Tap to reveal answer
"Financial. . . external. . . managerial. . . internal" is the correct choice. Accounting can be required into two fields: financial and managerial. Financial accounting provides data for outsiders, while managerial accounting provides data for insiders.
"Financial. . . external. . . managerial. . . internal" is the correct choice. Accounting can be required into two fields: financial and managerial. Financial accounting provides data for outsiders, while managerial accounting provides data for insiders.
← Didn't Know|Knew It →
accounting provides information for decision makers (e.g. outside investors and lenders); however, accounting focuses on information for decision makers (e.g. supervisors).
accounting provides information for decision makers (e.g. outside investors and lenders); however, accounting focuses on information for decision makers (e.g. supervisors).
Tap to reveal answer
"Financial. . . external. . . managerial. . . internal" is the correct choice. Accounting can be required into two fields: financial and managerial. Financial accounting provides data for outsiders, while managerial accounting provides data for insiders.
"Financial. . . external. . . managerial. . . internal" is the correct choice. Accounting can be required into two fields: financial and managerial. Financial accounting provides data for outsiders, while managerial accounting provides data for insiders.
← Didn't Know|Knew It →
If the Alpha Corporation's 2015 alternative minimum taxable income was . Which of the following properly identifies the exempt portion of the Alpha Corporation's 2015 alternative minimum taxable income?
If the Alpha Corporation's 2015 alternative minimum taxable income was
Tap to reveal answer
This problem asks us to determine the exempt portion of the Alpha Corporation's alternative minimum taxable income (AMTI). A corporation is allowed an exemption of up to in computing it AMTI; however, this exemption is reduced by twenty-five percent of the corporation's AMTI in excess of . We can write this by using the following equation:
Substitute and solve.
This problem asks us to determine the exempt portion of the Alpha Corporation's alternative minimum taxable income (AMTI). A corporation is allowed an exemption of up to
Substitute and solve.
← Didn't Know|Knew It →
Which of the following is not an accurate difference between the International Financial Reporting Standards (IFRS) and the Generally Accepted Accounting Principles (US GAAP)?
Which of the following is not an accurate difference between the International Financial Reporting Standards (IFRS) and the Generally Accepted Accounting Principles (US GAAP)?
Tap to reveal answer
"The US GAAP uses a principles based approach while the IFRS employs a rules based approach" is the correct answer. This is not an accurate difference between the IFRS and the USGAAP. The US GAAP typically employs a rules based approach while the IFRS follows a principles based approach. The other choices represent accurate differences between the IFRS and US GAAP according to the International Accounting Standards Committee.
"The US GAAP uses a principles based approach while the IFRS employs a rules based approach" is the correct answer. This is not an accurate difference between the IFRS and the USGAAP. The US GAAP typically employs a rules based approach while the IFRS follows a principles based approach. The other choices represent accurate differences between the IFRS and US GAAP according to the International Accounting Standards Committee.
← Didn't Know|Knew It →
accounting provides information for decision makers (e.g. outside investors and lenders); however, accounting focuses on information for decision makers (e.g. supervisors).
accounting provides information for decision makers (e.g. outside investors and lenders); however, accounting focuses on information for decision makers (e.g. supervisors).
Tap to reveal answer
"Financial. . . external. . . managerial. . . internal" is the correct choice. Accounting can be required into two fields: financial and managerial. Financial accounting provides data for outsiders, while managerial accounting provides data for insiders.
"Financial. . . external. . . managerial. . . internal" is the correct choice. Accounting can be required into two fields: financial and managerial. Financial accounting provides data for outsiders, while managerial accounting provides data for insiders.
← Didn't Know|Knew It →
accounting provides information for decision makers (e.g. outside investors and lenders); however, accounting focuses on information for decision makers (e.g. supervisors).
accounting provides information for decision makers (e.g. outside investors and lenders); however, accounting focuses on information for decision makers (e.g. supervisors).
Tap to reveal answer
"Financial. . . external. . . managerial. . . internal" is the correct choice. Accounting can be required into two fields: financial and managerial. Financial accounting provides data for outsiders, while managerial accounting provides data for insiders.
"Financial. . . external. . . managerial. . . internal" is the correct choice. Accounting can be required into two fields: financial and managerial. Financial accounting provides data for outsiders, while managerial accounting provides data for insiders.
← Didn't Know|Knew It →
If the Alpha Corporation's 2015 alternative minimum taxable income was . Which of the following properly identifies the exempt portion of the Alpha Corporation's 2015 alternative minimum taxable income?
If the Alpha Corporation's 2015 alternative minimum taxable income was
Tap to reveal answer
This problem asks us to determine the exempt portion of the Alpha Corporation's alternative minimum taxable income (AMTI). A corporation is allowed an exemption of up to in computing it AMTI; however, this exemption is reduced by twenty-five percent of the corporation's AMTI in excess of . We can write this by using the following equation:
Substitute and solve.
This problem asks us to determine the exempt portion of the Alpha Corporation's alternative minimum taxable income (AMTI). A corporation is allowed an exemption of up to
Substitute and solve.
← Didn't Know|Knew It →
Which of the following is not an accurate difference between the International Financial Reporting Standards (IFRS) and the Generally Accepted Accounting Principles (US GAAP)?
Which of the following is not an accurate difference between the International Financial Reporting Standards (IFRS) and the Generally Accepted Accounting Principles (US GAAP)?
Tap to reveal answer
"The US GAAP uses a principles based approach while the IFRS employs a rules based approach" is the correct answer. This is not an accurate difference between the IFRS and the USGAAP. The US GAAP typically employs a rules based approach while the IFRS follows a principles based approach. The other choices represent accurate differences between the IFRS and US GAAP according to the International Accounting Standards Committee.
"The US GAAP uses a principles based approach while the IFRS employs a rules based approach" is the correct answer. This is not an accurate difference between the IFRS and the USGAAP. The US GAAP typically employs a rules based approach while the IFRS follows a principles based approach. The other choices represent accurate differences between the IFRS and US GAAP according to the International Accounting Standards Committee.
← Didn't Know|Knew It →
accounting provides information for decision makers (e.g. outside investors and lenders); however, accounting focuses on information for decision makers (e.g. supervisors).
accounting provides information for decision makers (e.g. outside investors and lenders); however, accounting focuses on information for decision makers (e.g. supervisors).
Tap to reveal answer
"Financial. . . external. . . managerial. . . internal" is the correct choice. Accounting can be required into two fields: financial and managerial. Financial accounting provides data for outsiders, while managerial accounting provides data for insiders.
"Financial. . . external. . . managerial. . . internal" is the correct choice. Accounting can be required into two fields: financial and managerial. Financial accounting provides data for outsiders, while managerial accounting provides data for insiders.
← Didn't Know|Knew It →