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Match the Appropriate User to the Following Information Needs

Question 254

Matching

Match the appropriate user to the following information needs:

Premises:
Monitor costs and ensure quality.
Judge the soundness of a customer before making sales on credit.
Measuring risk and return of loans.
Assessing employment opportunities.
Assessing the risk and return of acquiring shares.
An insurance company receives insurance premiums for six future months’ worth of coverage.
Helen Cho, a sole proprietor, pays for her daughter's preschool out of business funds.
Mayan Imports receives a shipment from Mexico, which contains an invoice that is stated in pesos.
A building is for sale at $480,000. An appraisal is given for $450,000.
To make the balance sheet look better, Helen Cho added several thousand dollars to the Equipment account that she believed was undervalued.
Responses:
Production managers
Suppliers
Employees
Lenders
Shareholders
Revenue recognition principle
Cost principle
Business entity principle
Monetary unit principle
Objectivity principle

Correct Answer:

Monitor costs and ensure quality.
Judge the soundness of a customer before making sales on credit.
Measuring risk and return of loans.
Assessing employment opportunities.
Assessing the risk and return of acquiring shares.
An insurance company receives insurance premiums for six future months’ worth of coverage.
Helen Cho, a sole proprietor, pays for her daughter's preschool out of business funds.
Mayan Imports receives a shipment from Mexico, which contains an invoice that is stated in pesos.
A building is for sale at $480,000. An appraisal is given for $450,000.
To make the balance sheet look better, Helen Cho added several thousand dollars to the Equipment account that she believed was undervalued.
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