Which one of the following determines the standards and procedures with which audited financial statements are prepared?

A prominent alumnus of your university has just donated $2,300,000 to fund a scholarship that will distribute $89,000 per year forever beginning in one year. For this to be true, what rate of return is expected on the donation?

Fifth Fourth National Bank has a savings program which will guarantee you $16,000 in 14 years if you deposit $75 per month. What APR is the bank offering you on this savings plan?

Kim Squared preferred stock pays a constant $5.10 dividend every year. What is the required return if the stock price is $43.73 per share?

Alpha Dog paid $2,380 in interest and $2,200 in dividends last year. The times interest earned ratio is 2.6 and the depreciation expense is $680. What is the value of the cash coverage ratio?

When compiling a pro forma statement, which policy most directly affects the projection of the retained earnings account balance?

Khadimally, Incorporated, expects sales of $763,500 next year. The net profit margin is 5.3 percent and the firm has a dividend payout ratio of 18 percent. What is the projected increase in retained earnings?

Jacob’s Escape has accounts payable of $2,214, inventory of $7,950, cash of $1,263, fixed assets of $8,400, accounts receivable of $3,907, and long-term debt of $4,200. What is the value of the net working capital to total assets ratio?

You just received a $5,000 gift from your grandmother which you have decided to save and then gift to your own grandchildren 50 years from now. How much additional money will you gift if you earn 7.5 percent interest rather than 7 percent interest over the next 50 years? (Assume annual compounding.)

You have just won the lottery and will receive a lump sum payment of $22.53 million after taxes. Instead of immediately spending your money, you plan to deposit all of the money into an account that will earn 4.81 percent. If you make equal annual withdrawals for the next 25 years, how much can you withdraw each year starting exactly one year from now?