Criteria Taken from Organizational Records and Referred to as "Hard

question 7

Multiple Choice

Criteria taken from organizational records and referred to as "hard" or "nonjudgmental" are known as _____ criteria.

• A)dynamic
• B)subjective
• C)objective
• D)composite

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Definitions:

Retained Earnings Statement

A financial statement that shows the amounts and causes of changes in retained earnings for a specific period.

Income Statement

A financial report that shows a company's revenues, expenses, and profits or losses over a specific period, detailing its financial performance.

External Reporting

The process of preparing and disclosing financial statements and other information to parties outside the organization.

Statement of Cash Flows

A statement of financial position that displays the influences of adjustments in balance sheet accounts and income on cash and cash equivalents, segmenting the analysis into operating, investing, and financing activities.