current value of an asset

Reporting results

Does the difficulty in determining the current value of an asset create a problem in determining the depreciation expense that should be charged for a year?

Reporting results

Consider the revenue results from telephone solicitations by Meals for the Homeless in 2011 (see Exhibit 10-2). What do you make of this? What are some

possible explanations? What questions do you have?

Reporting results

Is the information on the balance sheet, activity statement, and cash flow statement independent of one another or connected? Explain.