Which of the Following Is NOT a Good Test-Taking Suggestion

question 21

Multiple Choice

Which of the following is NOT a good test-taking suggestion for taking an essay test?

• A) Before writing your answer, list the main points you want to make and logically arrange them rather than making an elaborate outline before writing.
• B) In answering an essay question, be direct, make a point, and support it.
• C) If the question asks for one example, it is better to give several examples in order to gain points.
• D) Your ideas are of first importance, so look over your essay answers for errors in spelling and grammar last.

Recognize how and where different types of financial statement items, such as losses on disposal and changes in accounting methods, are reported.

Describe the purpose of an audit and the requirements of the Sarbanes-Oxley Act for corporate accountability.

Calculate and understand financial ratios such as price-earnings ratio, return on stockholders' equity, and return on total assets.

Identify what constitutes an unusual item on an income statement and the implications of various unusual items.

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Definitions:

Total Revenue

The overall amount of money generated by a business from the sale of its products or services, calculated by multiplying the price per unit by the number of units sold.

Market Price

The current price at which an asset or service can be bought or sold in a particular marketplace.

Profit-maximizing

Profit-maximizing is the process or goal of a business to operate in a way that achieves the highest possible profit.

Total Revenue

The total amount of money received by a company from its sales or services before any expenses are subtracted.