Which of the following is typically NOT presented within a firms statement of cash flows? the gross amounts of cash inflow and cash outflow from
Which of the following is typically NOT presented within a firms statement of cash flows?
| | the gross amounts of cash inflow and cash outflow from operating activities |
| | the gross amounts of cash inflow and cash outflow from investing activities |
| | the gross amounts of cash inflow and cash outflow from financing activities |
| | All of the above are typically presented within a firms statement of cash flows |
Comprehensive income:
| | Includes other comprehensive income. |
| | Is defined as all changes in owners equity during a period excluding contributions by and distributions to owners. |
Which of the following is an example of applying the concept of substance over form under GAAP?
| | Accounting for a lease as a capital lease by a lessee even though legal title to the leased asset has not been acquired |
| | Issuing consolidated financial statements for a parent and its subsidiary corporations even though they exist as separate legal entities |
| | A sale of accounts receivable is not accounted for as a sale when the seller is responsible for covering any losses incurred by the :buyer |
| | All of the above are examples of substance over form |
Which of the following is not an accounting method that require(s) year-end estimates in formulating financial statements amounts?
| | The Allowance method of accounting for bad debts |
| | Using the Completed Contract Method to account for long term construction contracts |
| | Determining compensation expense from employee stock options plans |
| | Determining the value of deferred tax liabilities or deferred tax assets when accounting for differences between book and tax income. |
Which of the following is not an example of applying the conservatism convention in financial accounting?
| | Valuing financial investments classified as Trading at fair market value when the securities have appreciated in value relative to the initial acquisition cost |
| | Immediate recognition of losses when first expected when accounting for long term contracts under the Percentage of Completion method |
| | Presentation of inventory on the balance sheet at lower of cost or market |
| | Presentation of Accounts Receivable on the balance sheet at net realizable value |
