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Assessing Management's Stewardship
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Assessing Management's Stewardship

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Questions and Answers

Why is information about how efficiently and effectively management has discharged its responsibilities important?

  • To predict future net cash inflows (correct)
  • To assess management's stewardship of the entity's economic resources
  • To evaluate the entity's compliance with laws and regulations
  • To protect the entity's economic resources

    • What are some examples of management's responsibilities to use the entity's economic resources?

  • Ensuring price and technological changes do not affect the resources
  • Complying with applicable laws and regulations
  • Protecting the resources from economic factors
  • All of the above (correct)

    • What can information about management's discharge of responsibilities help assess?

  • The entity's efficiency in using economic resources
  • The entity's compliance with contractual provisions
  • The entity's protection against technological changes
  • The entity's prospects for future net cash inflows (correct)

    • True or false: Information about management's discharge of responsibilities helps assess management's stewardship of the entity's economic resources.

    <p>True</p> Signup and view all the answers

    True or false: Information about management's discharge of responsibilities is useful for predicting how efficiently and effectively management will use the entity's economic resources in future periods.

    <p>True</p> Signup and view all the answers

    True or false: Examples of management's responsibilities include protecting resources from the effects of economic factors and ensuring compliance with laws and regulations.

    <p>True</p> Signup and view all the answers

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