9. Richard Corp experienced an unrealized gain in prior period related to an available for sale security. The related investment was sold in the current period. The net impact to Other Comprehensive Income is: a. Increase b. Decrease C No Change d. Depends on the sale price 10. Assuming Company A had a 45% ownership in Company B, the appropriate accounting treatment would be a. Fair Value b. Equity c Consolidation d. Disclosure Only 11. When determining standalone value to allocate price to a performance obligation, the following is considered most appropriate, if available: a. Historic Cost b. Adjusted Market c. Expected Cost Plus Margin d. Residual 12. The Transaction Price is based on the: a. Discounted Present Value of all consideration paid and/or received b. Un-discounted Sum of all consideration paid and/or received c. Only discounted value of all considered received d. Only un-discounted sum of all consideration received 13. When a decrease in the effective tax rate is announced, this will cause management to deferred tax assets. a. Increase b. Decrease c. No Change d. Restate prior period 14. The difference between book (GAAP) net income and taxable (IRS) income can be found on the: a. M1 b. 1099 c. W2 d. W4 15. The impact to income tax expense caused by permanent differences between book (GAAP) net income and taxable (IRS) income are recognized: a. As a permanent deferred tax asset b. In the period in which the difference is resolved C. As a restatement of prior period d. In the current period