The Statement Concerning a Funds Statement Based on the Total

question 1

Multiple Choice

The statement concerning a funds statement based on the total resources concept of funds that is incorrect is:

• A) It excludes internal transactions such as depreciation
• B) The total resources concept of funds is the broadest concept
• C) Any transaction which increases liabilities or equity is a source of funds
• D) Any transaction which reduces assets is a use of funds

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Definitions:

Power Distance

A cultural dimension that describes how members of a society accept and expect the distribution of power to be inequitable.

Cultural Personality

The collective pattern of thinking, feeling, and acting that characterizes a group and influences members' behavior.

Hofstede's Terms

Refer to cultural dimensions developed by Geert Hofstede that are used to understand the differences between cultures.

Big Five Factor

A model outlining five broad dimensions of human personality traits: Openness, Conscientiousness, Extraversion, Agreeableness, and Neuroticism.