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Which are segments are reportable segments?  Is there a sufficient number of reportable segments disclosed?  If the company is a non public entity, which segments are required to be disclosed?

Which of the following is an assumption made in the preparation of the financial statements? Select one: a. The current market value is assumed to be less relevant than the original cost paid. b. Financial statements are prepared for a specific entity that is distinct from the entity's owners. c. The preparation of financial statements for a specific time period assumes that the balance sheet covers a designated period of time. d. Financial statements are prepared assuming that inflation

7. How is the valuation of current assets affected if the company follows IFRS? Valuation is based on historical cost. OValuation is based on market adjustments. OValuation is based on LCM accounting. O Assets are expensed immediately.

Which of the following would an analyst most likely be able to determine from a common-size analysis of a company’s balance sheet over several periods? C . A more effi cient or less effi cient use of assets.

The following classification scheme typically is used in the preparation of a balance sheet: a. Current assets b. Investments c. Property, plant, and equipment d. Intangible assets e. Other assets f. Current liabilities g. Long-term liabilities h. Contributed capital i. Retained earnings Required: Using the letters above and the format below, indicate the balance sheet category from the dropdown listing in which an entity typically would place each of the following items. Contra accounts should be indicated by the corresponding dropdown choice shown with parentheses. (If an Item relates to more than one balance sheet category, select the dropdown option that represents all applicable categories.) 1. Long-term receivables 2. Accumulated amortization 3. Current maturities of long-term debt 4. Notes payable (short-term) 5. Accrued payroll taxes 6. Leasehold improvements 7. 8. Machinery 9. Common stock 10. Short-term investments 11. Deferred tax liability Retained earnings appropriated for…

Assume an income statement with the following classifications: A. Revenues B. Cost of goods sold C. Distribution expenses D. General & administrative expenses E. Other revenues and expenses F. Income tax on income from continuing operations G. Gain from disposal of discontinued operations H. Income tax on gain from discontinued operations I. None of the above Indicate by letter how each of the following should be classified: 1. Advertising expense 2. Amortization of a patent held as an investment 3. Cash dividend received on short-term investment 4. Depreciation on plant that manufactures good for sale (prior to sale of the (spoob 5. Freight on sales 6. Income tax effect of loss on sale of plant 7. Income tax on gain on sale of short-term investment in securities 8. Interest expense 9. Interest revenue 10. Loss on sale of patent 11. Dividend revenue from investment 12. Salary of 13. Sales 14. Sales returns 15. Services sold company president

Which of the following statements regarding the balance sheet is true? Group of answer choices A. Any item on the balance sheet labeled a payable is an asset. B. It represents the financial position of a company at a point in time. C. Current liabilities are listed in order of liquidity. D. Equipment is classifed as a current asset.

Classifying balance sheet accounts For each account listed, identify the category that it would appear on a classified balance sheet. Use the following categories: Current Assets, Long-term Investments, Plant Assets, Intangible Assets, Current Liabilities, Long-term Liabilities, and Stockholders’ Equity. If the item does not belong on the classified balance sheet, put an X. a. Land (used in operations) b. Accumulated Depreciation—Equipment c. Common Stock d. Service Revenue e. Investment in Starbucks Corporation (to be held long-term) f. Accounts Receivable g. Equipment h. Buildings i. Notes Payable (due in 10 years) j. Unearned Revenue k. Cash l. Accounts Payable m. Prepaid Rent n.Dividends o. Land (held for investment purposes) p. Depreciation Expense

Which of the following best represents operating income? Seleccione una: a. Income after financing activities b. Earnings before interest and taxes c. Income from discontinued operations d. Income from capital gains

The International Accounting Standards Board’s Conceptual Framework for Financial Reporting defines an asset as:A A resource controlled by an entity which is capable of generating independent cash flows.B A resource capable of generating income for the entityC A resource owned by an entity as a result of a past events, from which future economic benefits are expected.D A resource controlled by an entity as a result of past events, from which future economic benefits are expected.

Which of the below are the correct adjustments we make to a company's EBIT to arrive at its FCFF? Select all that apply. Select All That Apply A B D E F Take out taxes Subtract depreciation and amortization Subtract capital expenditures Add back acquisition expenses Subtract changes in net working capital Add back R&D expenses ?

What do you know about PPE ( property, plant and equipment ?  • What range of measures is used to determine amounts for these items in the reports of the individual companies? • Do you think it is valid to add the items, given the measures used? • How would you interpret the total amount for property, plant and equipment in the financial statements? • Compare the measures used by the different companies for similar items. Are there any inconsistencies in how similar items are measured by the different companies?  Answer above by seeing 2020  annual report of Coles & WoolWorths AU and evaluate the PPE disclosure of WOW and COL.

1. Exploration and evaluation assets are initially measured at  a. cost. b. revalued amount. c. fair value. d. a or b 2. Exploration and evaluation assets are exploration and evaluation expenditures recognized as  a. assets in accordance with the entity’s accounting policy. b. expenses in accordance with applicable PFRSs. c. assets in accordance with (a) above, subject to the limitations provided under PAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. d. any of these Use the following information for the next two questions: In 20x1, OBSTREPEROUS NOISY Mining Corp. acquired the right to use 1,000 acres of land to mine for gold. The lease cost is ₱200,000,000, and the related exploration costs on the property amounted to ₱40,000,000. It is the policy of OBSTREPEROUS Mining Corp. to capitalize all costs of exploration and evaluation of mineral resources. Intangible development costs of drilling, tunnels, shafts, and wells incurred before opening the mine amounted to…

Choose the correct. Which of the following items must be disclosed in interim reports?a. Total assets.b. Total liabilities.c. Cash flow from operating activities.d. Gross revenues.

Classifying balance sheet accounts For each account listed, identify the category that it would appear on a classified balance sheet. Use the following categories: Current Assets, Long-term Investments, Plant Assets, Intangible Assets, Current Liabilities, Long-term Liabilities, and Stockholders’ Equity. If the item does not belong on the classified balance sheet, put an X. Land (used in operations) Accumulated Depreciation—Equipment Common Stock Service Revenue Investment in Starbucks Corporation (to be held long-term) Accounts Receivable Equipment Buildings Notes Payable (due in 10 years) Unearned Revenue Cash Accounts Payable Prepaid Rent Dividends Land (held for investment purposes) Depreciation Expense

Discuss the appropriate treatment in the income statement for the following items: a.    Loss on discontinued operations. b.    Noncontrolling interest allocation. c.    Earnings per share. d.    Gain on sale of equipment.

Which of the following items are added back to Net Income when the Indirect method is being used to prepare the Operating Activities section? Please mark the correct answers and leave the incorrect answers unmarked Depreciation expense Accumulated depreciation Bad Debt Expense Accounts Receivable balance Loss on sale of equipment Gain on sale of equipment