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What might a manager do during the last quarter of a fiscal year if she
wanted to improve current annual net income?
- Relax credit policies for customers
What might a manager do during the last quarter of a fiscal year if she
wanted to decrease current annual income?
- Delay shipments to customers until after the end of the fiscal
year
How should an unusual event not meet the criteria for an extraordinary
item be disclosed in the financial statement?
- Shown as a separate item in operating revenues or expenses if
material and supplemented by a footnote if deem appropriate.
The balance sheet is useful for analyzing all of the following except?
- Profitability
One criticism not normally aimed at the balance sheet prepared using
current accounting and report in standards is
- The extensive use of separate classifications