Practice objective: Unit 1: Financial Statements: A Review

• Now asking questions from: The Origin of Financial Statements and the SEC Requirements

12Question number 2

Apex Printing, Inc. is a private, domestic United States printer of periodicals, newspaper inserts, and advertising materials that accompany distributions of Sunday and weekday circulations of large metropolitan newspapers.

As the newly hired VP of finance, you report to the CFO. In this capacity, your responsibilities include ensuring that financial statements are in compliance with the required standards by the SEC and other government regulations for publically traded organizations. Which of the following information should be found in the FASB accounting standards codification that applies to your duties?

Partnership incomeSole proprietorshipsNon-published financial statementsExpenses