Question: 2, 3, 4, and 5 please 2. Bnhancing qualitative chancteristics of nocounting information include: A. Relevance and comparability. B. Comparability and timeliness. C. Understandability and
2. Bnhancing qualitative chancteristics of nocounting information include: A. Relevance and comparability. B. Comparability and timeliness. C. Understandability and relevance. D. Neutrality and consistency. 3. Which of the following has the statutory authority to set sccounting stundards in the United States? A. RBS B. FASB C. ICPA D. SBC 4. The main issue in the debate over scoounting for employee stock options was: A. How mnny options chould be grented to key executives. B. The tax consequences of employee stock options. C. The amount of compensation expense that a company should recognize. D. Which employees ahould receive options. 5. Manngement has recently purchasod new oquipment but is uncertain about its useful life. For the initial year, manngement eatimntod a useful life of 10 years. However, due to a major accident during the first year, management is now uncertain about the equipment's functionality and has revisod its estimate to 5 years and included a description of their uncertainty and of this change in estimatod useful life in financial thetement diacloeures. Which of the following is an accurate statement regarding this approneh? A. Informution is free from error because manngement made the correct docision in rovising the estimated usefill life of the equipment. B. Information is froe from crror because management has providod enough disclosure regarding the uncerthin catimnte. C. Information contains error because management changed its estimates on the useful life of the oquipment. D. Informntion contuins error because the useful life of the equipment is uncerthin
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