Admission Test Certified Public Accountant (Financial Accounting & Reporting) - Financial-Accounting-Reporting무료 덤프문제 풀어보기
In financial reporting of segment data, which of the following items is always used in determining a segment's operating income?
정답: B
Adam Corp. had the following infrequent transactions during 1989:
* A $190,000 gain on reacquisition and retirement of bonds. This material event is also considered unusual for Adam Corp.
* A $260,000 gain on the disposal of a component of a business. Adam continues similar operations at another location.
* A $90,000 loss on the abandonment of equipment.
In its 1989 income statement, what amount should Adam report as total infrequent net gains that are not considered extraordinary?
* A $190,000 gain on reacquisition and retirement of bonds. This material event is also considered unusual for Adam Corp.
* A $260,000 gain on the disposal of a component of a business. Adam continues similar operations at another location.
* A $90,000 loss on the abandonment of equipment.
In its 1989 income statement, what amount should Adam report as total infrequent net gains that are not considered extraordinary?
정답: D
Conceptually, interim financial statements can be described as emphasizing:
정답: C
In which of the following situations should a company report a prior-period adjustment?
정답: A
According to the FASB conceptual framework, which of the following statements conforms to the realization concept?
정답: B
On December 31, 20X2, the Board of Directors of Maxy Manufacturing, Inc. committed to a plan to discontinue the operations of its Alpha division. Maxy estimated that Alpha's 20X3 operating loss would be $500,000 and that the fair value of Alpha's facilities was $300,000 less than their carrying amounts.
Alpha's 20X2 operating loss was $1,400,000, and the division was actually sold for $400,000 less than its carrying amount in 20X3. Maxy's effective tax rate is 30%.
In its 20X2 income statement, what amount should Maxy report as loss from discontinued operations?
Alpha's 20X2 operating loss was $1,400,000, and the division was actually sold for $400,000 less than its carrying amount in 20X3. Maxy's effective tax rate is 30%.
In its 20X2 income statement, what amount should Maxy report as loss from discontinued operations?
정답: A
On January 1, 1991, Brecon Co. installed cabinets to display its merchandise in customers' stores. Brecon expects to use these cabinets for five years. Brecon's 1991 multi-step income statement should include:
정답: B
Tack, Inc. reported a retained earnings balance of $150,000 at December 31,1990. In June 1991, Tack discovered that merchandise costing $40,000 had not been included in inventory in its 1990 financial statements. Tack has a 30% tax rate. What amount should Tack report as adjusted beginning retained earnings in its statement of retained earnings at December 31, 1991?
정답: B
In Baer Food Co.'s 1990 single-step income statement, the section titled "Revenues" consisted of the following:
In the revenues section of its 1990 income statement, Baer Food should have reported total revenues of:
In the revenues section of its 1990 income statement, Baer Food should have reported total revenues of:
정답: B