CHARITY AND SPONSOR ADS
Shopping Cart
0 items
 

1. An extraordinary event for financial reporting purposes is both

1. An extraordinary event for financial reporting purposes is both
Click to enlarge
Price: $19.99
Availability: In Stock
Model: A
Average Rating: 5 out of 5 Stars!

INSTANT DOWNLOAD

Solution Guide / Answer Key:

ACCOUNTING

Intermediate Accounting Quiz
Spiceland
MULTIPLE CHOICE

1. An extraordinary event for financial reporting purposes is both:

2. The rationale for adoption of the percentage-of-completion method is that:

3. Shady Lane's income taxes payable account decreased from $14 million to $12 million during 2006. If its income tax expense was $80 million, what would be shown as an operating cash flow under the direct method?

4. On June 1, 2006, Romano Inc. changed the estimated useful life of its office equipment from 20 to 12 years. This change would be accounted for:

5. A change in depreciation methods is accounted for:

6. The financial statement presentation of a change in depreciation methods is most similar to that of reporting:

7. The financial statement presentation of a change in reporting entity is most similar to the reporting of a:

8. Using the percentage-of-completion method of accounting for long-term contracts, the percentage of completion used to recognize gross profit in the first year usually is determined by measuring:

9. Using the completed contract method of accounting for long-term contracts:

10. Indiana Co. began a construction project in 2006 that will provide it $150 million when it is completed in 2008. During 2006, Indiana incurred $36 million of costs and estimates an additional $84 million of costs to complete the project.

Suppose that, in 2007, Indiana incurred costs of $63.75 million and estimated an additional $42.75 million in costs to complete the project. Using the percentage-of-completion method, Indiana:

 

FILE: MS WORD

Write Review
Your Name:


Your Review: Note: HTML is not translated!

Rating: Bad            Good

Enter the code in the box below:

There are no additional images for this product.