单项选择题

Which of the following statements about a corporation’ s annual reports, SEC filings, and press releases is most accurate（）

A. Annual and quarterly SEC filings are required to be audited.
B. Interim SEC filings typically update the major financial statements and footnotes.
C. Annual reports are generally viewed as the most factual and objective source of information about a company.

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单项选择题

Lobel Manufacturing is currently running at capacity. Although Lobel cannot immediately fill orders for its product, it is taking orders for future delivery, and has just accepted a $100000 deposit (30 percent of the total) for an order that will be shipped in four months. According to the revenue recognition principle:（）

A. Lobel should recognize the revenue for the entire order when it is shipped to the customer.
B. Lobel should recognize the $100000 during the current accounting period because that is when the amount was actually paid.
C. The entire (total) amount of the sale price should be recognized during the current accounting period because that is when the sale has been made.

单项选择题

Which of the following statements about financial statements and reporting standards is least accurate（）

A. Reporting standards focus mostly on format and presentation and allow management wide latitude in assumptions.
B. The objective of financial statements is to provide economic decision makers with useful information.
C. Reporting standards ensure that the information in financial statements is useful to a wide range of users.