The effect of a transaction that is infrequent in occurrence but not unusual in nature should be presented separately as a component of income from continuing operations when the transaction results in a
Question 5
Which of the following is a generally accepted accounting principle that illustrates the practice of conservatism during a particular reporting period ?
Question 6
According to the FASB conceptual framework , which of the following statements conforms to the realization concept ?
Question 7
In a statement of cash flows , which of the following would increase reported cash flows from operating activities using the direct method ? ( Ignore income tax considerations .)
Question 8
White Co . wants to convert its 2001 financial statements from the accrual basis of accounting to the cash basis . Both supplies inventory and office salaries payable increased between January 1 , 2001 , and December 31 , 2001 . To obtain 2001 cash basis net income , how should these increases be added to or deducted from accrual basis net income ?
Question 9
A company is an accelerated filer that is required to file Form 10-K with the United States Securities and Exchange Commission ( SEC ). What is the maximum number of days after the company ' s fiscal year end that the company has to file Form 10-K with the SEC ?
Question 10