18. The ease with which an asset can be converted into cash is termed a. liquidity. b. financial flexibility. c. operating capability d. capital maintenance 19. All of the following are examples of subsequent events that would be disclosed in the footnotes to the financial statements except a. the write off of a significant uncollectible account. b. a litigation setlement c. fire or flood loss. d. a bond issuance after the balance sheet date -20. Which of the following is required to be disclosed, pursuant to GAAP? a. a description of facts and circumstances leading up to the sale of a discontinued component within the notes of the financial statements b. all gains or losses from sale of the component reported on the income statement or in the footnotes c. operating income or loss from discontinued component reported on the income statement d. All of these answer choices are correct. 21. Comprehensive income consists of a. net income + other comprehensive income. b. other comprehensive income+ unrealized changes in the value of available-for-sale securities. c. net income + other adjustments to retained earnings d. operating income +other income and losses. 22. Which of the following is a probable future sacrifice of economic benefits arising from present obligations as a result of past events? a. Asset . Liability c. Loss d. Expense 23. A comparison of a company's performance with that of its own past results is known as a. intracompany analysis. b. ratio analysis. c. intercompany analysis. d. common-size analysis