Blackboard A Remaining Time: 1 hour, 21 minutes, 43 seconds. Question Completion Status: QUESTION 5 Which of the following statements is CORRECT? The primary objective of financial reporting is to ensure that all investment decisions are risk free Managerial accounting focuses on information needed by lenders, customers, and the federal government. The SEC is a governmental agency that oversees world-wide financial markets and organizations that set accounting standards. To be useful, accounting must be relevant and have faithful representation, QUESTION 6 account and carries a normal balance Accumulated Depreciation is ain) contra asset: credit contra asset; debit expense; debit revenue debit QUESTION 7 At the end of the current year, the accountant for Computer Graphics, Inc. forgot to make an adjusting entry to accrue Wages Payable for the company's employees for the last week in December. The wages will be paid to the employees in January. Which of the following is an effect of this error? Not income is overed Click Save and submit to save and submit. Click Save All Ao all answers. Save All Anwar MacBook c # 80 898 4 FT F2 13 14 FS F6 17 O