What is Financial Reporting?
A) The process of communicating internal accounting information to existing and potential investors, creditors, lenders, and other external decision makers.
B) The process of communicating financial accounting information to existing and potential investors, creditors, lenders, and other external decision makers.
C) The process of preparing financial accounting information to existing and potential investors, managers, and employees.
D) The process of communicating the strategic plan to existing and potential investors, creditors, lenders, and other external decision makers.
B
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Ajax predicts that if a customer pays on the first sale, it is assured that it is a reliable customer. As such, it expects that customer to generate a net profit of $350 per year for 12 years. Ajax calculates present value with a 15% rate of return. There is a 90% probability that Ajax will secure a reliable customer. However, if the customer defaults, Ajax will have to incur a loss of $500. Determine the expected benefit if credit is granted.
A) $1,857 B) $1,757 C) $1,657 D) $1,957
Once a foreign-owned enterprise is in full operation, it is usually subject to periodic monitoring
Indicate whether the statement is true or false