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Which financial reporting should provide useful information

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Reference no: EM132764886

Problem 1: If a business declared $500 dividend, it would appear on which of the following?

a- Statement of retained earnings only

b- Balance sheet only

c- None of the others alternatives are correct

d- Income statement only

e- Statement of retained earnings and cash flow statement

Problem 2: Financial reporting should provide useful information for making rational investment and credit decisions.

a- although false for most of the times, there are several exceptions detailed in Canadian GAAP

b- this is always a true statement

c- although true for most of the times, there are several exceptions detailed in Canadian GAAP

d- Cannot say if it is true or false given the limited information provided

e- this is always a false statement

Reference no: EM132764886

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