46 Which of the following items are NOT reported as part of income from continuing operations? Select one: B. gross profit C. gain on sale of equipment D. other income and (expenses) 48 Which of the following statements, regarding no-par stack, is incorrect? Select one: A. There can be no Paid-In Capital in Excess of Par B. Regardiess of the stock's issue price, Cash is debilad and Commen Stock is credited for the cash received. C. There is no par to be in excess of D. AUa the statements are correct 53 Public companies Select one: A. are required by the Financial Accounting Standards Board to maintain a system of intemal controls B. are overseen by the Public Company Accounting Oversight Board C. are audited by accounting firms that do not also provide certain consulting services to the publie company D. must issue an internal control report which states that the outside auditor is responsible for the adequacy of internal controls Before any internal control procedure is initiated, which of the folkwing questions must be primarily addressed by a company? Select one: A. Will this prevent accounting errors? B. Is this the best security money can buy? C. How much benefit will be derived from the cost of the pocedre? D. Will this put an end to theft