Question

In: Accounting

33. All of the following statements regarding other comprehensive income are true except: Select one: a....

33. All of the following statements regarding other comprehensive income are true except:

Select one:

a. Other comprehensive income includes unrealized gains and losses on available-for-sale securities

b. Other comprehensive income is added or subtracted to net income to determine comprehensive income

c. Other comprehensive income includes foreign currency adjustments

d. A Statement of Comprehensive Income can be presented separate from the Income Statement

e. Other comprehensive income is part of the Statement of Retained Earnings

36. A cash equivalent is:

Select one:

a. Generally within 3 years of its maturity date

b. Close to its maturity date but its market value may still be affected by interest rate changes

c. Another name for cash

d. An investment readily convertible to a known amount of cash

e. Is not considered highly liquid

Expert Solution

33. Answer is b)

Other comprehensive income is not added or subtracted to net income.

36. Answer is d)

Cash equivalent is an investment that is readily convertible to a known amount of cash.

ekkarill92 answered 2 years ago

All of the following statements regarding business ethics are true, except ________.

11-All of the following statements regarding business ethics are true, except ________. * A-Ethics does not mean following the law B-It is unethical to generate toxic emissions C-It is ethical to pay a governmental official “off the books” to facilitate a transaction D-Ethics does not mean following the accepted cultures and norms 12-Which of the following is not a business stakeholder? * A-Governments B-Suppliers C-Lecturers D-Creditors 13-Taking advantage over people who are unaware of their purchasing rights...

Question 8 All of the following statements regarding treasury stock are true EXCEPT which one? a....

Question 8 All of the following statements regarding treasury stock are true EXCEPT which one? a. It should be recorded on the Balance Sheet as an asset. b. They are shares that have been bought back by the corporation and are being held by the corporation. c. It has a normal debit balance d. It is a contra-stockholders' equity account Question 9 ROK Corporation purchased 4,000 shares of its own $8 par value common stock for $17 per share, the...

All of the following statements about life insurance are true, EXCEPT: Select one: a. Whole life...

All of the following statements about life insurance are true, EXCEPT: Select one: a. Whole life insurance is regarded as permanent insurance and is generally more expensive than term insurance. b. Beneficiaries who receive benefits under life insurance policies after the insured’s death must pay income tax on the death benefits they receive. c. Term life insurance provides temporary protection for a stated number of years, and is frequently renewable. d. The incontestable clause states that the insurer cannot contest...

All of the following statements regarding changes in accounting principles are true except which of the...

All of the following statements regarding changes in accounting principles are true except which of the following? Most changes in accounting principles are only reported in current periods when the principle change takes place. Changes in accounting principles are allowed when new principles are preferable to old ones. Most changes in accounting principles are retroactively reported. Consistency is one of the biggest concerns when a change in accounting principle is undertaken Which of the following items appears on the income...

All of the following statements are true except:

All of the following statements are true except: a. A portfolio may contain multiple programs and projects. b. A project manager has the discretion to make trade-offs in regard to which programs to pursue. c. A program manager has the discretion to make trade-offs in regard to which projects to pursue. d. Projects have a finite timeline, while programs may exist as long as the parent organization does. Which of the following is a financial analysis tool that an...

All of the following statements regarding the Advance Premium Tax Credit (APTC) are true EXCEPT: -...

All of the following statements regarding the Advance Premium Tax Credit (APTC) are true EXCEPT: - If the actual Premium Tax Credit is greater than the APTC already received by the taxpayer, then the taxpayer is entitled to a deduction on the following tax year's Form 1040. - If the APTC is greater than the actual Premium Tax Credit, the taxpayer repays the excess APTC as an additional tax liability on Form 1040. -The Advance Premium Tax Credit reduces the...

All of the following statements are true except one. Which statement is false?

All of the following statements are true except one. Which statement is false? A. The organization that formulates IFRSs is the International Accounting Standards Board. B. Professional accountants are held to a high standard of ethical conduct C. Bookkeeping is only a part of accounting D. Users of financial information are limited to shareholders of the company.

Which Of The Following Statements Are True? Select All That Apply. A. All other factors being...

Which Of The Following Statements Are True? Select All That Apply. A. All other factors being the same, dispersion forces between linear molecules are greater than dispersion forces between molecules whose shapes are nearly spherical. B. For the halogens, the dispersion forces increase while the boiling points decrease as you go down the column in the periodic table from F2 to I2 . C. For molecules with varying molecular weights, the dispersion forces may not become stronger as the molecules...

All of the following statements about the Dodd-Frank Act are true, except: Select the correct answer...

All of the following statements about the Dodd-Frank Act are true, except: Select the correct answer below: ---the Dodd-Frank Act was designed to protect the American taxpayer by promoting government bailouts. ---the Dodd-Frank Act was designed to promote the financial stability by improving accountability in the financial system. ---the Dodd-Frank Act was designed to protect consumers from abusive financial services practices. ---the Dodd-Frank Act was designed to promote the financial stability by improving transparency in the financial system.

All of the following statements are true, except: a. Canadian residents must report their worldwide income...

All of the following statements are true, except: a. Canadian residents must report their worldwide income for tax purposes. b. If an individual is a resident of Canada for part of the calendar year, that individual only has to report his worldwide income during the period of residency for Canadian tax purposes. c. An individual who immigrates to Canada during the year is a resident of Canada for tax purposes for the full calendar year. d. An individual can be...