exercise 1.4 need all 4 answered A,B,C,D

Exercises 35 C. Henry James, a real estate investorsidering building apartments in the Seattle area d. Boeing's management. e. International Association of Machinists and Aerospace Workers, a labor union represe ing many Boeing employees. LO1-3 EXERCISE 1.3 What Is Financial Reporting? A major focus of this course is the process of financial reporting. a. What is meant by the term financial reporting? b. What are the principal accounting reports involved in the financial reporting process? In general terms, what is the purpose of these reports? C. Do all business entities engage in financial reporting? Explain. d. How does society benefit from the financial reporting process? L01-5 EXERCISE 1.4 Generally Accepted Accounting Principles Generally accepted accounting principles play an important role in financial reporting. a. What is meant by the phrase generally accepted accounting principles? b. What are the major sources of these principles? e. Is there a single comprehensive list of generally accepted accounting principles? Explain. d. What types of accounting reports are prepared in conformity with generally accepted account ing principles? Describe the roles of the following organizations in establishing generally accepted accounting principles: a. FASB b. AICPA c. SEC From which of these organizations can you most easily obtain financial information about publicly owned companies? L01-6 EXERCISE 1.5 Accounting Organizations L01-3 EXERCISE 1.6 Investment Return You recently invested $18,000 of your savings in a security issued by a large company. The secu rity agreement pays you 6 percent per year and has a maturity three years from the day you pur chased it. What is the total cash flow you expect to receive from this investment, separated into the return on your investment and the return of your investment? Match the terms on the left with the descriptions on the right. Each description should be used only once. L01-3, L01-4, L01-5, L01-7 EVERAL