Multiple Choice Theories1. EPS disclosures area. Encouraged for all entitiesb. Required for all entitiesC. Encouraged for public entities and required for nonpublicentities.d. Required for public entities and encouraged for nonpublicentities.2. Earnings per share is calculated before accounting for which of thefollowing items?a. Preference share dividend for the periodb. Taxationc. Non-controlling interestd. Ordinary share dividend3. Undeclared dividends are deducted from profit or loss in theearnings per share computation for which type of preferenceshares?a. Non-cumulative only.b. Cumulative only.C. Neither non-cumulative nor cumulative.d. Both non-cumulative and cumulative4. The following are considered returns to the preference shareholdersand are deducted in calculating profit or loss attributable toordinary equity holders, excepta. Undeclared dividends for the period on cumulative preferenceb. Loss on settlement of preference shares.C. Amortization of premium on increasing rate preference shares.d. Consideration paid on induced conversion of preference shares.shares. 5. Which of the following is incorrect regarding inclusion or shares inthe weighted average number of shares?d. Ordinary shares issued as a result of the conversion of a debtinstrument to ordinary shares are included from the date thatinterest ceases to accrue.b. Ordinary shares issued in exchange for the settlement of alnability of the entity are included from the settlement date.C. Ordinary shares issued for the rendering of services to the entityare included as the services are rendered.d. Ordinary shares issued in exchange for cash are included whencash is received.6. The weighted-average number of shares outstanding during theperiod and for all the periods presented (other than the conversionof potential ordinary shares) shall be adjusted fora. Any change in the number of ordinary shares without a changein resources.b. Any prior-year adjustment.C. Any new issue of shares for cash.d. Any convertible instruments settled in cash.7. If a bonus issue occurs between the year-end and the date that thefinancial statements are authorized, thena. EPS both for the current and the previous year are adjustedb. EPS for the current year only is adjustedC. No adjustment is made to EPSd. Only the diluted EPS is adjusted8. If a new issue of shares for cash is made between the year-end andthe date that the financial statements are authorized, thena. EPS for both the current and the previous year are adjusted.b. EPS for the current year only is adjustedC. No adjustment is made to EPS.d. Only the diluted EPS is adjusted

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Answered: 1. EPS disclosures are a. Encouraged…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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1. EPS disclosures are a. Encouraged for all entities b. Required for all entities C. Encouraged for public entities and required for nonpublic entities. d. Required for public entities and encouraged for nonpublic entities.