Extensible Business Reporting Language (XBRL)

A) is limited to the manual comparison of data reported in the SEC 10K report.
B) is expected to complete the development of its system of "tags" for all U.S.GAAP in 10 years.
C) enables recognition and extraction of items of information for various analytical purposes
D) has been applied extensively by financial analysts for over 30 years

Items such as sales receipts,bank statements,checks,and purchase orders are examples of a business's source documents.

The journal entry a company uses to record pension rights that have not been funded for its salaried employees at the end of the year is

A) debit Salaries Expense; credit Cash
B) debit Pension Expense; credit Unfunded Pension Liability
C) debit Pension Expense; credit Unfunded Pension Liability and Cash
D) debit Pension Expense; credit Cash

Which of the following is an example of a factory overhead cost?

A) repair and maintenance cost on the administrative building
B) factory heating and lighting cost
C) insurance premiums on salespersons' automobiles
D) president's salary

A financial statement user would determine if a company was profitable or not during a specific period of time by reviewing the

A) income statement
B) balance sheet
C) statement of cash flows
D) statement of retained earnings

An administrative agency, commission or board cannot revoke the licence or registration of a business without giving the business an opportunity to object.

Discuss the main tenets of the "new public service." How do they differ from traditional models?