1. Which of the following accounts is usually a negative equity account?

		Noncontrolling Interest
		Bonds Payable
		Allowance for Doubtful Accounts
		Additional Paid-in-Capital

2. Which of the following accounts is a company not required to report a per share amount on the face of the income statement?

		Income from continuing operations
		Discontinued operations
		Net income
		Prior period adjustment

3. Which of the following is false about an income statement?

		The primary advantage of the multiple-step format lies in the simplicity of presentation and the absence of any implication that one type of revenue or expense item has priority over another.
		Discontinued operations is reported net of tax in the income statement.
		Revenues and gains increase both net income and owners equity.
		The transaction approach of income measurement focuses on the income-related activities that have occurred during the period.