1. Under IFRS, a discontinued operation must be a: Select one: a. Product line. b. Cash Generating Unit (CGU) c. Product line or Geographic segment. d. Geographic segment.

2.

A company is preparing its bank reconciliation for December 31, 2004 (end of the reporting period). The following verified data are available: Based on the above data only, the amount for the December 2004 bank reconciliation Deposits in Transit is:

Select one:

a. Insufficient Information Provided

b. 17810

c. 3070

d. 1560

e. 3770

3.

Ambo Inc. earned $200,000 for the current year. This means:

Select one:

a. Ambo's retained earnings must be $200,000 more at December 31 than it was at January 1

b. Ambo's cash increased $200,000 during the year.

c. Ambo's earnings increased Ambo's net assets $200,000 during the year.

d. Ambo's total assets increased $200,000 during the year.