Which of the Following Statements About Sources of External Standards

question 72

Multiple Choice

Which of the following statements about sources of external standards for evaluating firm's performance is false?

• A)Much of the information provided by investor services comes from firms' annual reports
• B)Investor services often provide comparative ratios as well as other financial information
• C)Investor services must follow SEC guidelines for reporting form and terminology used
• D)All the information available to internal users is not provided by external sources

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Definitions:

Negligence

A failure to behave with the level of care that someone of ordinary prudence would have exercised under the same circumstances, often leading to harm or damage.

Standard Of Care

The level of care and attention expected of a person or organization in carrying out activities, especially to avoid harm to others.

Tort Action

A lawsuit or legal action based on civil wrongs not arising from contracts, which can lead to a remedy in the form of damages or other relief.

Store Detective

An individual employed by a retail establishment to prevent theft by detecting and apprehending shoplifters.