?Which of the following is not an acceptable major asset classification a. C. Property, plant, and equipment O b. D. Deferred charges O C. B. Long-term investments d. A. Current assets O Equity or debt securities held to finance future construction of additional plants should be classified on a balance sheet as .a. C. intangible assets O .b. A. current assets O .C.D. long-term investments O .d. B. property, plant, and equipment O Which of the following organizations has not been instrumental in the development of ?financial accounting standards in the United States a. IASBO b. FASB O C. AICPA O d. SECO Gross billings for merchandise sold by Otto Company to its customers last year amounted to $15,720,000; sales returns and allowances were $370,000, sales discounts were $175,000, and freight-out was $140,000. Net sales last year for Otto Company were During the lifetime of an entity, accountants produce financial statements at arbitrary points ?in time in accordance with which basic accounting concept a. Periodicity assumption o b. Matching principle o C. Cost/benefit constraint o d. Conservatism constraint O