I – Non-adjusting event falling after date of authorization of FS issuance may or may not be disclosed. II – It is recommended by the Standard that at most, only 10 segments should be determined as reportable as reporting beyond this limit would result to information that is too detailed. III – The effect of recording a 100% share dividend would be to decrease the current ratio, decrease working
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49
Analyze the following:
I – Non-adjusting event falling after date of authorization of FS issuance may or may not be disclosed.
II – It is recommended by the Standard that at most, only 10 segments should be determined as reportable as reporting beyond this limit would result to information that is too detailed.
III – The effect of recording a 100% share dividend would be to decrease the
Given these, we can conclude that:
Group of answer choices
Only statements I and II are false.
Statement III is not false.
Only statements II and III are true.
Statement II is true.
Step by step
Solved in 2 steps
- Which of the following is False in regards to Share premium account? a. It will be shown under the shareholders equity b. It will be collected when the issue price is more than the par value of shares c. It will be collected when the par value of share is more than the issue price d. It will not be shown under current assets in the balance sheeting4. The weighted-average number of shares outstanding during the period for all periods (other than conversion of potential ordinary shares) shall be adjusted for a. Any convertible instrument settled in cash b. Any prior period adjustment c. Any change in the number of ordinary shares without a change in resources d. Any new issue of shares for cash 5. Understating purchase discounts, returns and allowances has the effect of: a. Overstating goods available for sale b. No effect c. Overstating net income d. Understating cost of sales 6. What is the inherent justification underlying the concept of potential ordinary shares or diluters in computing diluted earnings per share? a. Timeliness b. Materiality c. Completeness d. Substance over form33 Analyze the following: I – 75% test should applied based on all external revenue of all reportable segments only. II – Failure to record depreciation at year-end results in understated income. III – If income from continuing operations is less than zero, potentially dilutive securities are antidilutive. Given these, we can conclude that: Group of answer choices Only statement III is false. Only statements I and II are false. Only statements II and III are false. Only statements I and III are true.
- Under FASB 52, the temporal method requires that: A. translation gains and losses are included in the reported net income. В. translation gains and losses are only included in stockholder's equity. C. translation gains and losses should not be considered. D. none of these, QUESTION 13 A CFO should be least worried about A. transaction exposure. B. translation exposure. C. economic exposure. D. none of the options QUESTION 14 The most effective way to hedge translation exposure is: A. to buy forward contract. B. to buy call option contract. C. to use balance sheet hedge. D. to use regression method.13-9 Which of the following is not a type of dilution? Select one: a. dilution of percentage ownership b. dilution of market value c. dilution of book value d. dilution of share price e. dilution of earnings per shareChoose the correct answer: Equity security acquired for non-trading and the shares are not enough to warrant significant influence should be measured at the end of the period a. cost, being the purchase price b. cost, being the purchase price plus transaction costs c. fair value, with change in FV taken through profit or loss. d. fair value, with change in FV taken through other comprehensive income
- 63 Analyze the following: I – An entity shall classify a noncurrent asset as held for sale when the carrying amount of the asset is recovered through a sale transaction. II – Noncumulative preference dividends in arrears are not paid and not disclosed. III – In computing basic loss per share, the annual preference dividend on cumulative preference shares should be added to the net loss whether declared or not. Given these, we can conclude that: Group of answer choices Only statement II is true. Only statements I and II are true. Statements I and III are not true. Statements II and III are not false.H7. Which of the following ratios does not use net income in its calculation? Multiple Choice Net profit margin Earnings per share Return on equity Fixed asset turnover Explain also wrong options and explain with detailsTB MC Qu. 10-139 (Static) Why doesn't stockholders' equity equal the... Why doesn't stockholders' equity equal the market value of equity? Multiple Choice Stockholders' equity usually does equal the market value of equity. It's due to incorrect entries prepared by accountants. Investors tend to incorrectly price the market value of equity. It's related to the use of historical cost to report many long-term assets and the expensing of value-generating costs such as research and development and advertising.
- 1. Which of the following would never affect retained earnings? a. Correction of a prior period errorsb. Payment of long-term indebtednessc. Stock dividendd. Reissue of treasury shares 2. Appropriation for accumulated profits, if reflected in separate account, shall be shown as a. Component of equity as part of share premiumb. Component of total liabilities as current liabilityc. Component of total assets as noncurrent assetsd. Component of equity as part of reserves 3. An appropriation of accumulated profits for possible contingencies should be a. Charged with all losses related to that contingencyb. Transferred to income as losses are realizedc. Shown within shareholders’ equity in the statement of financial positiond. Classified in the liability section of the statement of financial position4. When preference share is cumulative, preferred dividends not declared in a period are a. called dividends in arrearsb. Distribution of earningsc. never paidd. considered a liability 5.…#15 Analyze the following: I – If interim financial statements are presented, only a statement of financial position and a statement of comprehensive income are required. II – Under cash to accrual and single-entry accounting related problems, accounts payable, trade notes payable, and advances to suppliers are prepared under one ledger because all these accounts are related to company supplier/s. III – When dilutive convertible bonds are the only potential ordinary shares, diluted EPS will be greater if the bonds are actually converted than not converted. Given these, we can conclude that: Group of answer choices Only statements I and II are true. Only statements I and III are true. Only statement II is false. Statement III is false.Which of the following best describes the possible result of treasury share transactions? a. May decrease but not increase net income. b. May increase net income if the cost method is used. c. May increase but not decrease retained earnings. d. May decrease but not increase retained earnings.