A check involves 3 parties: a maker who signs the check,a payee who is the recipient,and a bank on which the check is drawn.

Kendra just attended a sales conference in Baltimore. She must now write a report summarizing her conference. What advice should she follow?

A) Mention every topic that was discussed at the conference.
B) Begin her report by identifying the event.
C) Use a chronological organizational pattern.
D) Avoid the use of headings or bullets so that the reader does not become distracted.

One area of difference between GAAP and IFRS cash flow reporting is the

A) treatment of losses on sale of equipment
B) general categories required for various types of cash flows
C) use of the direct or indirect method of reporting operating cash flows
D) allowed classifications of dividend and interest paid or received

(Figure: The Marginal Benefit Curve) Use Figure: The Marginal Benefit Curve.The total benefit of mowing four lawns is approximately:

A) $25.
B) $35.
C) $80.
D) $114.

Managerial Accounting reports are prepared for external users while Financial
Accounting reports are prepared for internal users.

Closing entries are entered directly on to the work sheet.

Joe's home is damaged both by a forest fire and by water from the fire hoses.What is likely to be covered?

A) Neither the fire nor water damage because the fire was a friendly fire.
B) Just the fire but not the water damage.
C) Only the water damage,but not the fire because it was a friendly fire.
D) Both the fire and water damage.