The Reports and Financial Statements Prepared by Accountants

question 35

Multiple Choice

The reports and financial statements prepared by accountants:

• A)Are more useful for profit-seeking businesses than they are for not-for-profit organizations.
• B)Are mainly used to help the firm complete its tax forms.
• C)Provide information that can be used by decision-makers both inside and outside the organization.
• D)Are not as useful now that firms have moved into a more global environment.

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Definitions:

Empathy

Emotional reaction that is similar to the reaction being experienced by another person; empathizing is feeling what another person is feeling.

Predictive Adaptation

The ability to change or modify one's behavior in anticipation of future events or changes in the environment.

Low-Context Culture

Culture in which people derive much information from the words of a message and less information from nonverbal and environmental cues.

High-Context Culture

Culture in which people derive much information from nonverbal and environmental cues.