1- Sales, accounts receivable and the allowance for doubtful accounts are all growing at approximately the same rate.

Which statement is not true?

a.

The Financial Accounting Standards Board is a source of some generally accepted accounting principles.

b.

The Securities and Exchange Commission is a source of some generally accepted accounting principles.

c.

The Internal Revenue Service is a source of some generally accepted accounting principles.

d.

The American Institute of Certified Public Accountants is a source of some generally accepted accounting principles.

2-

4In addition to the companys principal financial statements, the Form 10-K and shareholder annual reports must include all but one of the following: 4

a.

Two years of audited balance sheets, three years of audited statements of income, and two years of statements of cash flows.

b.

Managements discussion and analysis of financial condition and results of operations

c.

Five-year summary of selected financial data.

d.

Disclosure of the domestic and foreign components of pretax income.