The Goldilocks Scenario Suggests That ______

question 12

Multiple Choice

The Goldilocks scenario suggests that ______.

• A) we are very fortunate that dinosaurs were destroyed but left us an inhabitable planet
• B) we are very fortunate to be in a solar system where life can develop and be sustained
• C) we are very fortunate that the meteorites that have bombarded Earth over time were not too large or too small
• D) we are very fortunate to be in the right place in the universe and to have had the right condition to develop and sustain life

Understand the reporting differences in equity accounts between U.S. GAAP and U.K. GAAP.

Correctly classify balance sheet items according to their standard headings.

Prepare a statement of cash flows using the indirect method, highlighting the adjustments for non-cash transactions.

Understand and calculate the contribution margin ratio and its application in target income, and break-even analysis.