When Conducting Field Observations, Personal Impressions and Feelings Are Included

question 1

Multiple Choice

When conducting field observations, personal impressions and feelings are included in field notes in order to:

• A)assess the possibility that bias is coloring one's observations.
• B)reduce the likelihood of going native.
• C)encourage informants to share their feelings openly with the researcher.
• D)make it possible to do quantitative data analysis.

Understand the concepts of profitability, solvency, and liquidity in financial context.

Identify and apply different standards for financial statement analysis including intra-company, competitor, and industry standards.

Distinguish between unusual and frequent gains and losses in financial reports.

Recognize the importance of context such as company background, industry, and economic setting in analyzing financial statements.

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Definitions:

Certification

The process of officially recognizing someone or something as having met certain standards through the issuance of a document or label.

Bank Reconciliation

The procedure of aligning the figures in a company's bookkeeping records for a cash account with the equivalent data on a bank statement.

External Auditors

External auditors are independent accounting professionals who examine the financial statements of an organization to ensure accuracy and compliance with applicable standards and regulations.

Internal Control System

Procedures and policies set by an enterprise to preserve the correctness of its financial and bookkeeping details, advance accountability, and obstruct malicious acts.