1)

Which of the following is NOT true under full-absorption costing?

fixed nonmanufacturing costs are capitalized during the period

companies can increase income by increasing the number of units produced

all product costs are included in the cost of inventory

fixed manufacturing costs are expensed only when inventory is sold.

2)

A gain on the sale of land would be included in which element of comprehensive income?

Income from continuing operations

Prior period adjustments

Other changes in equity

Cumulative accounting adjustments

3)Which of the following statements is true? Earnings per share:

is a common size measure of a company's earnings performance for common stock

is not a required disclosure on the face of the income statement

is the amount that each stockholder will receive as dividends that period

reflects the amount of a company's earnings belonging to both common and preferred shareholders on a per share basis