The consolidation method of accounting is used when ownership is? A) Less than 20% B) Between 20% and 50% C) More than 50% D) Exactly 50%
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- Direct cost incurred to sell stock such as underwriting cost should be accounted for as?: 1. a reduction of additional paid-in captial 2. an expense of the period in which the stock is issued. 3. an intangible asset instructions: which of the above is correct a. 1 b. 2 c. 3 d. 1 or 3Accounting: type question:,,,,,, While calculating purchase price, the following values of assets are considered A. Book value B. New values fixed C. Averagevalues D. Market valuesWhich of the following is (are) acceptable valuation(s) for reporting of assets on the balance sheet? 1. inventories at lower of cost or net realizable value. 2. accounts receivable at net realizable value. 3. plant and equipment at cost 4. investments at acquisition cost Select one: 1 and 4 1 and 3 1 and 2 2 and 4
- What is correct answer for this financial accounting mcq?Q6. Identify the correct statement in each group? Note: There is one correct answer in each group of 3 - select the appropriate letter(i) If Property, plant and equipment is revalued upwards at the start of the year it will resultin:A. A higher profit for the yearB. No change to profit for the yearC. A lower profit for the year(ii) Property, plant and equipment revaluations:D. The revaluation gain is released to the Statement of profit or loss when the asset is soldE. PPE can only be revalued if a fair value can reliably be determinedF. Where a policy of revaluation is chosen, the asset must be revalued each yearMatch the correct term with its definition. A. cost principle i. if uncertainty in a potential financial estimate, a company should err on the side of caution and report the most conservative amount B. full disclosure principle ii. also known as the historical cost principle, states that everything the company owns or controls (assets) must be recorded at their value at the date of acquisition C. separate iii. (also referred to as the matching principle) matches expenses with associated revenues in the period in which the revenues were generated. D. monetary iv. business must report any business activities that could affect what is reported on the financial statements E. conservatism v. system of using a monetary unit by which to value the transaction, such as the US dollar. F. revenue vi. period of time in which you performed the service or gave the customer the product is the period in which revenue is recognized. G. expense vii. business may only report activities on financial statements that are specifically related to company operations, not those activities that affect the owner personally.
- For assets acquired on credit or by installment, the cost or fair value is equal to: A. cash purchase priceB. invoice priceC. installment priceD. list priceWhich 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 ?When an intangible asset is amortized: OA. stockholders' equity decreases. OB. net assets decrease. C. net income decreases. D. all of the above are correct.
