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1- Debt investment are initially recorded at: а- Cost b- Cost plus accrued interest c- Fair value d- None of the above

1- Debt investment are initially recorded at: а- Cost b- Cost plus accrued interest c- Fair value d- None of the above

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1- Debt investment are initially recorded at: а- Cost b- Cost plus accrued interest c- Fair value d- None of the above 2- The Sohar company report net income of $60,000. If partners Sultan, Ahmed and Salem have an income ratio of 50%,30%, and 20%, respectively, Salem's share of the net income is: a- $30,000 b- $12,000 с- 18,000 d- No correct answer is given 3- Which is an example of a cash flow from an operating activity? a- Payment of cash dividends to the company's stock holders b- Receipt of cash from the sale of capital stock c- Payment of cash to lenders for interest 1
Transcribed Image Text:1- Debt investment are initially recorded at: а- Cost b- Cost plus accrued interest c- Fair value d- None of the above 2- The Sohar company report net income of $60,000. If partners Sultan, Ahmed and Salem have an income ratio of 50%,30%, and 20%, respectively, Salem's share of the net income is: a- $30,000 b- $12,000 с- 18,000 d- No correct answer is given 3- Which is an example of a cash flow from an operating activity? a- Payment of cash dividends to the company's stock holders b- Receipt of cash from the sale of capital stock c- Payment of cash to lenders for interest 1
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