ACC 577 help A Guide to career/uophelp.com ACC 577 help A Guide to career/uophelp.com | Page 25

Question 4
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