The Financial Statements of a Company Are the Primary Sources

question 17

Multiple Choice

The financial statements of a company are the primary sources of information that enable us to communicate the financial results ________.

• A)of the company externally
• B)of the company internally
• C)to internal managers but not externally to the public
• D)of the company,both internally and externally

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Definitions:

Administrative Law

A branch of public law that governs the activities of administrative agencies of government including rulemaking, adjudication, or the enforcement of a specific regulatory agenda.

Administrative Hearings

Proceedings conducted by a government agency to resolve disputes, apply regulations, or impose penalties, typically less formal than court trials.

Jury

A group of people sworn to render a verdict or decision in a legal case based on the evidence presented to them.

Informal Rulemaking

A process used by government agencies to create regulations through a less formal procedure that usually involves publishing a proposed rule, allowing public comment, and then issuing a final rule.