1. Companies may report comprehensive income on each of the following statements except

a.a separate statement of comprehensive income

b.the retained earnings statement

c.the statement of cash flows

d.the income statement

2. loss due to a discontinued operation should be reported on the income statement

a.above income from continuing operations

b.below income from continuing operations

c.without related tax effect

d.as an operating expense

3.A legal document that indicates the name of the issuer, the face value of the bond and such other data is called

a.a convertible bond

b.a bond indenture

c.trading on the equity

d.a bond debenture

4. The present value of $37,000 to be received in two years, at 12% compounded annually, is (rounded to nearest dollar) ______ . Use the present value table in Exhibit 8.

a.$32,317

b.$30,579

c.$29,496

d.$32,930