ACC 400 Final Exam ( Written Type ) ( New ) For more course tutorials visit www . uophelp . com
c . the cumulative effect of the change in principle should be reflected on the income statement as of the beginning of the next year . d . the cumulative effect of the change in accounting principle should be classified as an extraordinary item on the income statement . 19 . Which of the following is not an irregular item on the income statement ? a . Discontinued operations b . Extraordinary items c . Other revenues and expenses 20 . Vertical analysis is a technique that expresses each item in a financial statement a . in dollars and cents . b . as a percent of the item in the previous year . c . as a percent of a base amount . d . starting with the highest value down to the lowest value . ==============================================
ACC 400 Final Exam ( Written Type ) ( New ) For more course tutorials visit www . uophelp . com
1 .) Trim Force Corp . had the following information in their accounting records :
Work in process inventory , beginning balance $ 50,000 Cost of direct materials used $ 350,000