Question: answer to these questions? Question 7 5 pts When a financial statement says that it is consolidated, that means it covers current and prior periods.
answer to these questions?




Question 7 5 pts When a financial statement says that it is "consolidated," that means it covers current and prior periods. it accounts for both assets and liabilities. it reports data for a company and its competitors. it includes the parent firm and its subsidiaries. it has been verified by an independent auditor. Question 10 5 pts Within an organization, accountants are the individuals who have the most complete knowledge of a firm's income and expenses. True False Question 14 5 pts Net income is equal to assets minus liabilities. revenues minus expenses. net revenues. earnings before income tax. retained earnings. Question 15 5 pts Which of the following is not one of the drawbacks of automated information systems, as compared to manual systems? Decreased visibility of transaction processing Inability of the computer to exercise logic Consistency of calculations and procedures Existence of data in computer- readable form only Diminished audit trail
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