An objective of the statement of cash flows is to

disclose changes during the period in all asset and all equity accounts.

disclose the change in working capital during the period.

provide information about the operating, investing, and financing activities of an entity during a period.

None of these answers are correct.

Which of the following should be disclosed in a Summary of Significant Accounting Policies?

Types of executory contracts

Amount for cumulative effect of change in accounting principle

Claims of equity holders

Depreciation method followed

All of the following information about each operating segment must be reported except

unusual items.

interest revenue.

cost of goods sold.

depreciation and amortization expense.

If the financial statements examined by an auditor lead the auditor to issue an opinion that contains an exception that is not of sufficient magnitude to invalidate the statement as a whole, the opinion is said to be

unqualified.

adverse.

qualified.

exceptional.

A financial forecast presents to the best of the responsible party's knowledge and belief,

an assessment of the company's ability to be successful in the future.

an entity's expected financial position, results of operations, and cash flows.

given one or more hypothetical assumptions, an entity's expected financial position, results of operations, and cash flows.

a subjective assessment of the company's ability to be successful in the future under a number of different assumptions.