ACTG-6257 - Intermediate Accounting oed answer key
Showing 41 to 60 of 117 total answers.
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Awesome StudentQuestion • Intermediate Accounting 3
The funds contributed by shareholders in excess of par or stated value
Answer
share premium
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Awesome StudentQuestion • Intermediate Accounting 3
Which of the following changes during a period is not a component of ?
Answer
Treasury share, at cost
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Awesome StudentQuestion • Intermediate Accounting 3
Which method is acceptable in the presentation of the income statement?
Answer
Either I or II
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Awesome StudentQuestion • Intermediate Accounting 3
Which of the following statements best describes prospective application?
Answer
Applying a new accounting policy to transactions occurring after the date at which the policy is changed.
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Awesome StudentQuestion • Intermediate Accounting 3
Little Company reported the following current assets on December 31, 2020:
Answer
P 6,700,000
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Awesome StudentQuestion • Intermediate Accounting 3
The elements directly related to the measurement of financial position are
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Awesome StudentQuestion • Intermediate Accounting 3
Guard Company reported the following account balances on December 31, 2020:
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Awesome StudentQuestion • Intermediate Accounting 3
An entity shall classify an asset as current when (choose the incorrect one)
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Awesome StudentQuestion • Intermediate Accounting 3
The following was taken from the 2020 financial statements of Tulip Company.
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Awesome StudentQuestion • Intermediate Accounting 3
Which of the following is a characteristic of a change in accounting policy?
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Awesome StudentQuestion • Intermediate Accounting 3
The elements directly related to the measurement of financial performance are
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Awesome StudentQuestion • Intermediate Accounting 3
The following costs were incurred by LIP company, a manufacturer during 20x1:
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Awesome StudentQuestion • Intermediate Accounting 3
Which of the following is included in a complete set of financial statements?
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Awesome StudentQuestion • Intermediate Accounting 3
An entity shall present all items of income and expense recognized in a period
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Awesome StudentQuestion • Intermediate Accounting 3
Failure to record accrued salaries at the end of an accounting period results in
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Awesome StudentQuestion • Intermediate Accounting 3
These are the funds contributed by shareholders equal to the par or stated value.
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Awesome StudentQuestion • Intermediate Accounting 3
Which of the following statements is true concerning interim financial reporting?
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Awesome StudentQuestion • Intermediate Accounting 3
Which of the following statements in relation to interim financial reporting is true?
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Awesome StudentQuestion • Intermediate Accounting 3