111.Investors and creditors are interested in a company's "cash flow prospects." What two specific concerns of investors and creditors are summarized by the term "cash flow prospects?" ...

111.Investors and creditors are interested in a company's "cash flow prospects."
What two specific concerns of investors and creditors are summarized by the term
"cash flow prospects?"

112.List the three financial statements that are used to communicate financial accounting information to interested external parties.

113.Provide a brief example to illustrate that externally reported financial accounting information must be based in part on estimates, judgments, and assumptions.

114.Development of generally accepted accounting principles


(A.) What is meant by the phrase "generally accepted accounting principles"?
(B.) Give the names of three organizations that currently play an active role in the development of accounting principles in the United States.

115.Briefly explain how generally accepted accounting principles enhance the integrity of financial accounting information.