ending September 30 , 2004 . This prepayment was made to obtain a discount .
24 . Young & Jamison ' s modified cash-basis financial statements indicate cash paid for operating expenses of $ 150,000 , end-of-year prepaid expenses of $ 15,000 , and accrued liabilities of $ 25,000 . At the beginning of the year , Young & Jamison had prepaid expenses of $ 10,000 , while accrued liabilities were $ 5,000 . If cash paid for operating expenses is converted to accrual-basis operating expenses , what would be the amount of operating expenses ?
25 . The adjusted balance for officers ' compensation expense for the year ended December 31 , 2004 should be :
26 . According to ASC Topic 820 , which level has the lowest priority for valuation purposes ?
27 . The FASB ’ s conceptual framework classifies gains and losses based on whether they are related to an entity ’ s major ongoing or central operations . These gains or losses may be classified as
28 . Which of the following assumptions means that money is the common denominator of economic activity and provides an appropriate basis for accounting measurement and analysis ?
29 . A company received royalties from the assignment of patents to other enterprises . In the period in which the royalties are earned , the royalties should be ?
30 . According to the FASB Conceptual Framework , which of the following situations violates the concept of faithful representation ?
31 . The company ' s cash-basis consulting revenue is what amount ?
32 . What was the total amount of insurance premiums paid by East during 2005 ?