76. Under U.S. GAAP, inventories are reported on the balance sheet at:

A. historical cost only

B. current replacement cost only

C. Net realizable valueonly

D. A & B

88. Which of the following financial statements is (are) prepared using the adjusted trial balance?

A. balance sheet only

B. the income statement only

C. balance sheet, income statement, statement of retained earnings

D. The balance sheet and the income statement only

91. Amortization expense is recorded for:

A. intangible assets with indefinite life

B. goodwill

C. intangible assets with finite life

D. franchise established with a contract with unlimited extensions

92. When a company issues common stock at a price per share greater than its par value, the excess should be credited to:

A. common stock

B. excess capital

C. paid- in capital in excess of par-common

D. retained earnings

94. the net realizable value of accounts receivable is the difference between gross accounts receivable and:

A. uncollectible- accounts expense

B. sales discounts

C. sales returns and allowances

D. allowance for uncollectible accounts

95. coal mines and oil reserves are:

A. depleted using the units-of-production method

B. not depleted because they belong to the earth

C. depleted using an accelerated method

D. depleted using the straight line method