Profitability ratios

A) measure how effectively the enterprise is using its assets.

B) measure a company's ability to meet its long-term obligations.

C) measure the enterprise's long-term ability to pay its maturing obligations.

D) measure financial performance and shareholder value creation for a specific time period.

Under aspe, which of the following is required regarding related parties

A) Disclosing the name of the controlling entity.

B) Disclosing the name of the entity's parent company.

C) Remeasurement.

D) Disclosing management compensation.

Which of the following type of audit opinion is appropriate when, in the independent auditor's judgement, exceptions to fair presentation are pervasive?

A) Qualified opinion.

B) Disclaimer of an opinion.

C) Unmodified opinion.

D) Adverse opinion.

Which of the following is NOT a component or characteristic of operating segments?

A) The operating segment engages in business activities from which it earns revenues and incurs expenses.

B) The operating segment (s) have discrete financial information available for it.

C) Operating segments must be aggregated together for reporting purposes.

D) The segments operating results are regularly reviewed by the company's chief operating decision-maker to assess segment performance and allocate resources to the segment.