1. (TCO 1) Of the following temporary differences, which one ordinarily creates a deferred tax asset? (Points : 6) Intangible drilling costs MACRS depreciation Rent received in advance Installment sales

Question 2. 2. (TCO 2) Eligibility for postretirement healthcare benefits usually is based on the employee's (Points : 6)

job title. number of years in the profession. number of years in the current position. age or years of service.

Question 3. 3. (TCO 3) Which of the following is not included among the assumptions needed to estimate postretirement healthcare benefits? (Points : 6)

Employee turnover Expected retirement age of plan participants Life expectancy of plan participants Return on plan assets

Question 4. 4. (TCO 4) The retained earnings balance reported in the balance sheet typically is not affected by (Points : 6)

net income. a prior period adjustment. dividends paid. restrictions.

Question 5. 5. (TCO 5) The calculation of diluted earnings per share assumes that stock options were exercised and that the proceeds were used to (Points : 6)

buy common stock as an investment. buy treasury stock. retire preferred stock. increase net income.

Question 6. 6. (TCO 7) Which of the following changes should be accounted for using the retrospective approach? (Points : 6)

A change in the estimated life of a depreciable asset A change from straight-line to declining balance depreciation A change from the completed-contract method of accounting for long-term construction contracts A change to the LIFO method of costing inventories

Question 7. 7. (TCO 7) A change in depreciation method is accounted for (Points : 6)

retrospectively. as a cumulative adjustment to income in the year of change. prospectively, like changes in accounting estimates. None of the above

Question 8. 8. (TCO 8) When preparing the statement of cash flows using the indirect method, depreciation (Points : 6)

is deducted from net income. is added to net income. is not included in the statement of cash flows. is an investing activity.

Question 9. 9. (TCO 5) Which of the following is reported as an investing activity in the statement of cash flows? (Points : 6)

The purchase of computer equipment The sale of preferred stock The repayment of bonds payable The repurchase of treasury stock

Question 10. 10. (TCO 6) Which of the following is not a potential common stock? (Points : 6)

Convertible preferred stock Convertible bonds Stock rights Participating preferred stock

answer all 10 questions with a b c d and ill give thumbs up