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Author Question: Which of the following are all temporary accounts? a. Liabilities, revenue, and expenses b. ... (Read 93 times)

nummyann

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  • Posts: 576
on: Jul 6, 2018
Which of the following are all temporary accounts?
 a. Liabilities, revenue, and expenses
   b. Revenue, liabilities, and the owner's Drawing
   c. Assets, liabilities, and owner's Drawing
   d. Revenue, expenses, and the Owner's Drawing
   e. Liabilities and assets

Question 2

Which of the following statements is true?
 
  a. Foreign firms registered with the SEC may file reports based on IFRS.
   b. U.S. firms registered with the SEC may file reports based on IFRS.
  c. The European Union requires firms to report based on GAAP.
  d. Foreign firms registered with the SEC may file reports based on IFRS only if they reconcile all amounts to GAAP.


juliaf

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  • Posts: 344
Reply #1 on: Jul 6, 2018
Answer to Question 1

d

Answer to Question 2

a


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