What is the greatest difference between Mexican accounting practice and American accounting practice?
A. The method of calculating earnings per share
B. The lack of conservatism in Mexican accounting standards
C. The treatment of inflation effects on financial statements
D. The accounting for exchange rate gains and losses
Ans: C. The treatment of inflation effects on financial statements
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The following information is available for Felix Company: Net income $300 Decrease in plant and equip. $40 Depreciation expense 20 Increase in deferred tax asset 5 Gain on sale of assets 35 Decrease in long-term debt 50 Increase in inventories 25 Decrease in accounts payable 15
What is cash from investing activities for Felix Company? a. $5 b. $40 c. $75 d. $10
Which of the following is NOT true of money market instruments?
A) They are easily converted into cash. B) They are long-term investments. C) They are considered a very low-risk investment. D) They offer investors very low returns. E) They are conservative investments.