A production supervisor in a factory would be MOST likely to ask which of the following questions?

a)	Which product line is the least profitable and should be eliminated?

b)	What dividend can the company afford to pay its shareholders?

c)	How much should the company charge for its products?

d)	What can the company afford to pay its employees this year?

e)	Which bank should the company borrow money from?

Assumptions were developed in order to ensure that financial statements have all of the qualitative characteristics necessary to make them useful for decision-making. The going concern assumption is based on (or connected to) which of the following qualitative characteristics?

a)

Faithful

b)

Relevant

c)	Verifiable

d)

Timely

e)	Comparable

Canadian Tire is in which business sector(s)?

a)

Tertiary

b)

Secondary

c)

Primary

d)	Primary and Secondary

e)	Secondary and Tertiary

A company has agreed to sell their business to a competitor for $8.2 million. Since the company will be run as usual by the new owners the president does not address the sale in the financial statements. Based on the information provided, which of the follow is TRUE?

a)	Time period (Periodicity) - violated

b)	Unit-of-Measure - violated

c)	Full disclosure - violated

d)	Historical cost - violated

e)	Separate entity - violated

Which business sector(s) is a dairy farm part of?

a)	Primary and Secondary

b)

Secondary

c)	Secondary and Tertiary

d)

Tertiary

e)

Primary

A company receives an advance payment from a customer for services which will be provided next year. The accountant records an increase in cash and an increase in revenue of $12,000. Which of the following is TRUE based on the information provided?

a)	Understandable - followed

b)	Timely - violated

c)	Relevance - violated

d)	Comparable - followed

e)	Verifiable - violated

Employees and potential employees would be most interested in answering which of the following questions?

a)	Are the company's tax returns correct?

b)	Will the company continue to be profitable?

c)	How much has the company paid in dividends?

d)	Will the company honour their warranties?

e)	Is the company credit-worth?

William is a family doctor. He sees approximately 20 patients a day. Which business sector(s) is he in?

Question 89 options:

a)	Secondary and Tertiary

b)

Secondary

c)	Primary and Secondary

d)

Primary

e)

Tertiary

please answer asap thanks