Financial statements should provide all financial information that is relevant and faithfully representative within the limitations of the ________ constraint
A) benefit
B) materiality
C) usefulness
D) cost
Answer: D
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In a residential subdivision, the developer established a central playground that uses four feet of the backyard of each owner. Brynes wants to put an organic garden in his backyard. However, a swing set that sits within the central playground sits on Brynes' backyard. Byrnes plans on moving the swing set to make room for his garden. His neighbor, Yates objects. What can Yates do?
a. nothing so long as Byrnes owns the property b. ask the court for help c. nothing if the statutory period for adverse possession has run d. seek a lis pendens
The General Fund transfers cash to provide working capital for a new Internal Service Fund. The Internal Service Fund would report this transaction in the statement of cash flows as
A. Cash flows from operating activities. B. Cash flows from noncapital financing activities. C. Cash flows from capital and related financing activities. D. Cash flows from investing activities.