Which of the Following Is an Example of Form Utility

question 140

Multiple Choice

Which of the following is an example of form utility?

• A)an iPhone with a "multitouch" user interface for easy navigation
• B)stamp vending machines that are located in drugstores
• C)a service station that has a 24-hour ice machine available for use when the station is closed
• D)a mobile phone company that offers six-month financing,same as cash
• E)a gourmet candy store that offers a home delivery service

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Definitions:

Temporal Method

An accounting method used to convert the financial statements of a foreign subsidiary, using exchange rates based on the time assets and liabilities were acquired.

Functional Currency

The currency of the primary economic environment in which an entity operates, used in its financial reporting.

Consolidation

The process in accounting of combining the financial statements of two or more entities controlled by the same owner into a single set of statements.

Financial Statements

Documents that present the financial activities and conditions of a business, including the balance sheet, income statement, and cash flow statement.