FIN 301 FIN301 Session 8 Online Assignment Answers - PSU
FIN 301 Session 8 Online Assignment (Penn State University)
- A form of earnings management designed to remove peaks and valleys from a normal earnings series, including steps to reduce and "store" profits during refers to
- Where do capitalized expenses go?
- Which company has not had an accounting scandal?
- Which of the following numbers games would make a company’s revenues look less volatile?
- Which of the following is NOT one of Schilit's seven financial shenanigans?
- What is the goal of companies that shift revenues to the future?
- True or False: Two-thirds of misstatements of financial information are related to revenue recognition.
- Enron was a commodities, energy and service corporation that mislead investors and Wall Street by keeping large amounts of debt off its balance sheet.
- What is the most common reason that companies misrepresent earnings?
- True or False: Companies sometimes improperly shift expenses to later periods in order to boost earnings in the current period.
- Which of the following are ways to spot earnings mismanagement?
- Advertising expenses are a period expense
- True or False: A company should recognize revenue when it bills the customer, not when goods are actually shipped.
- Which would boost income with one-time gains?
- True or False: According to GAAP, companies are supposed to capitalize costs that produce a future benefit and expense those that produce no such benefit.
- Which would be a red flag if you were looking for misstated earnings?
- A software company may record the full value of its revenues for a three year contract as soon as the contract with the customer is signed.
- Booking one time gains below the operating line is illegal.
- How did Enron's fraudulent activity come to light?
- True or False: 50% of CEO’s reported that they would use accounting adjustments to meet earnings expectations.
We Also Recommend
"Applying Skills Learned" Please respond to the following- From the e-Activity, explain what you learned about the Website you selected
(TCO 3) Managers are often required to make decisions about the future based