QUESTION 31 Lucky accountants, the International Accounting Standards are identi

Question

QUESTION 31 Lucky accountants, the International Accounting Standards are identical to the us. Generally Accepted Accounting Principles (GAAP) for U.S. True False 4 points QUESTION 32 Which of the following (choose ALL that apply are typical responsibilities of a FINANCIAL MANAGER? collecting payments from accounts receivables staying informed about changes in the company's markets making sure the company's bills are paid working with the company's accountants to make sure financial reports are accurate 2 points QUESTION 33 "Overcapitalization" is one of the common reasons why businesses fail. True False QUESTION 34 2 points One major advantage of EQUITY financing is that dividends paid out to investors are tax deductible. True False QUESTION 35 2 points Due to the unique nature of their operations, non-profit organizations do not market themselves. True False

Explanation / Answer

q 31 - True
The U.S. Generally Accepted Accounting Principles (GAAP) and the International Accounting Standards (IAS) -- also known as the International Financial Reporting Standards (IFRS) -- both serve the same purpose.
q 32 b and d
Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization.

q33 True
Overcapitalization has a big impact on the company because of low profits the companies reputation is harmed.

q34 False

q35 True
Non-profit leaders need new models that allow their brands to contribute and to sustaining their social impact, serving their mission, and staying true to their organization’s values and culture.

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