Which of the following would represent the least likely use of an income statement prepared for a business enterprise?
a. Use by customers to determine a company's ability to provide needed goods and services.
b. Use by labor unions to examine earnings closely as a basis for salary discussions.
c. Use by government agencies to formulate tax and economic policy.
d. Use by investors interested in the financial position of the entity.
Answer: d. Use by investors interested in the financial position of the entity.
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Owner A and friend B meet on the street. A says, i would like to sell my house. B takes the information and says, ill find you a buyer, ive done this several times for our friends. B does find a buyer for A's house, and the transaction is closed. Based on the above facts, which of the following applies?
A. A has violated fs 475 B. B has violated fs 475 C. Both A and B have violated fs 475 D. Neither have violated fs 475
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building an entire communication system. Indicate whether the statement is true or false