That helping you pass the Financial-Accounting-Reporting Test Papers exam successfully has been given priority to our agenda. In today’s society, there are increasingly thousands of people put a priority to acquire certificates to enhance their abilities. With a total new perspective, Financial-Accounting-Reporting Test Papers study materials have been designed to serve most of the office workers who aim at getting an exam certification. As the saying goes, Rome is not build in a day. The achievements we get hinge on the constant improvement on the quality of our Financial-Accounting-Reporting Test Papers latest study question and the belief we hold that we should provide the best service for the clients. No matter you are a student, a office staff or even a housewife, you can always find your most situable way to study our Financial-Accounting-Reporting Test Papers exam Q&A.
CPA Certification Financial-Accounting-Reporting And we have become a popular brand in this field.
As long as you try our Financial-Accounting-Reporting - Certified Public Accountant (Financial Accounting & Reporting) Test Papers exam questions, we believe you will fall in love with it. For many people, it’s no panic passing the Valid Financial-Accounting-Reporting Exam Papers exam in a short time. Luckily enough，as a professional company in the field of Valid Financial-Accounting-Reporting Exam Papers practice questions ,our products will revolutionize the issue.
We guarantee that you can pass the exam at one time even within one week based on practicing our Financial-Accounting-Reporting Test Papers exam materials regularly. 98 to 100 percent of former exam candidates have achieved their success by the help of our Financial-Accounting-Reporting Test Papers practice questions. And we have been treated as the best friend as our Financial-Accounting-Reporting Test Papers training guide can really help and change the condition which our loyal customers are in and give them a better future.
Admission Test Financial-Accounting-Reporting Test Papers - As we all know, time and tide waits for no man.
Time and tide wait for no man, if you want to save time, please try to use our Financial-Accounting-Reporting Test Papers preparation exam, it will cherish every minute of you and it will help you to create your life value. With the high pass rate of our Financial-Accounting-Reporting Test Papers exam questions as 98% to 100% which is unbeatable in the market, we are proud to say that we have helped tens of thousands of our customers achieve their dreams and got their Financial-Accounting-Reporting Test Papers certifications. Join us and you will be one of them.
So our assistance is the most professional and superior. You can totally rely on our study materials to pass the exam.
Financial-Accounting-Reporting PDF DEMO:
QUESTION NO: 1
On January 2, 1993, Quo, Inc. hired Reed to be its controller. During the year, Reed, working closely with Quo's president and outside accountants, made changes in accounting policies, corrected several errors dating from 1992 and before, and instituted new accounting policies.
Quo's 1993 financial statements will be presented in comparative form with its 1992 financial statements.
This question represents one of Quo's transactions. List A represents possible clarifications of these transactions as: a change in accounting principle, a change in accounting estimate, a correction of an error in previously presented financial statements, or neither an accounting change nor an accounting error.
Item to Be Answered
Quo manufactures heavy equipment to customer specifications on a contract basis. On the basis that it is preferable, accounting for these long-term contracts was switched from the completed-contract method to the percentage-of-completion method.
List A (Select one)
A. Neither an accounting change nor an accounting error.
B. Correction of an error in previously presented financial statements.
C. Change in accounting estimate.
D. Change in accounting principal.
Answer: D
QUESTION NO: 2
The effect of a change in accounting principle that is inseparable from the effect of a change in accounting estimate should be reported:
A. By restating the financial statements of all prior periods presented.
B. As a component of income from continuing operations, in the period of change and future periods if the change affects both.
C. As a separate disclosure after income from continuing operations, in the period of change and future periods if the change affects both.
D. As a correction of an error.
Answer: B
QUESTION NO: 3
Rock Co.'s financial statements had the following balances at December 31:
What amount should Rock report as comprehensive income for the year ended December 31?
A. $400,000
B. $520,000
C. $570,000
D. $420,000
Answer: B
QUESTION NO: 4
In open market transactions, Gold Corp. simultaneously sold its long-term investment in Iron
Corp. bonds and purchased its own outstanding bonds. The broker remitted the net cash from the two transactions.
Gold's gain on the purchase of its own bonds exceeded its loss on the sale of the Iron bonds. Assume the transaction to purchase its own outstanding bonds is unusual in nature and has occurred infrequently.
Gold should report the:
A. Effect of its own bond transaction as an extraordinary gain, and report the Iron bond transaction loss in income before extraordinary items.
B. Effect of its own bond transaction gain in income before extraordinary items, and report the Iron bond transaction as an extraordinary loss.
C. Net effect of the two transactions in income before extraordinary items.
D. Net effect of the two transactions as an extraordinary gain.
Answer: A
QUESTION NO: 5
Coffey Corp.'s trial balance of Income Statement Accounts for the year ended December 31,
1988 as follows:
Coffey's income tax rate is 30%. The gain on debt extinguishment is considered a usual and recurring part of Coffey's operations. The hurricane is considered an unusual and infrequent event. Coffey prepares a multiple-step income statement for 1988.
Net income is:
A. $200,000
B. $168,000
C. $161,000
D. $140,000
Answer: D
To be convenient for the learners, our CompTIA DY0-001 certification questions provide the test practice software to help the learners check their learning results at any time. The high passing rate of IBM C1000-173 exam training also requires your efforts. If you have any worry about the SASInstitute A00-282 exam, do not worry, we are glad to help you. SAP C_TS410_2022 - A large number of buyers pouring into our website every day can prove this. In the future, our PECB ISO-IEC-27001-Lead-Auditor-KR study materials will become the top selling products.
Updated: May 28, 2022