A Company Can Change to a New Accounting Principle If

question 32

Multiple Choice

A company can change to a new accounting principle if management can justify that the change will result in

• A)less likelihood of clerical errors.
• B)higher profit.
• C)lower profit for tax purposes.
• D)more relevant information for decision-making.

Understand the dissolution process of a limited partnership and the distribution of assets.

Identify non-corporate business entities and their characteristics.

Explain the impact of a limited partner's involvement in management on their liability.

Understand and articulate various perspectives on the impact of globalization on cultural diversity.

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Definitions:

Owners

Individuals or entities that hold the legal rights to possess, use, and dispose of an asset or property.

Share Repurchase

An initiative where a corporation repurchases its shares from the market, consequently diminishing the number of available shares and possibly raising the value of the shares still in circulation.

Own Company

A term referring to the possession or control of a company's shares, signifying ownership interest by shareholders or proprietors.

Marketplace

A platform or venue where goods, services, or financial instruments are traded between buyers and sellers.