Our Financial-Accounting-Reporting Test Simulator preparation exam is compiled specially for it with all contents like exam questions and answers from the real Financial-Accounting-Reporting Test Simulator exam. If you make up your mind of our Financial-Accounting-Reporting Test Simulator exam prep, we will serve many benefits like failing the first time attached with full refund service, protecting your interests against any kinds of loss. In a word, you have nothing to worry about with our Financial-Accounting-Reporting Test Simulator study guide. Our Financial-Accounting-Reporting Test Simulator cram materials will help you gain the success in your career. You can be respected and enjoy the great fame among the industry. We respect your needs toward the useful Financial-Accounting-Reporting Test Simulatorpractice materials by recommending our Financial-Accounting-Reporting Test Simulator guide preparations for you.
CPA Certification Financial-Accounting-Reporting So your error can be corrected quickly.
CPA Certification Financial-Accounting-Reporting Test Simulator - Certified Public Accountant (Financial Accounting & Reporting) We hope to grow with you and help you get more success in your life. Many students often complain that they cannot purchase counseling materials suitable for themselves. A lot of that stuff was thrown away as soon as it came back.
Our passing rate may be the most attractive factor for you. Our Financial-Accounting-Reporting Test Simulator learning guide have a 99% pass rate. This shows what? As long as you use our products, you can pass the exam!
Admission Test Financial-Accounting-Reporting Test Simulator - So, buy our products immediately!
We offer free demos of the Financial-Accounting-Reporting Test Simulator exam braindumps for your reference before you pay for them, for there are three versions of the Financial-Accounting-Reporting Test Simulator practice engine so that we also have three versions of the free demos. And we will send you the new updates if our experts make them freely. On condition that you fail the exam after using our Financial-Accounting-Reporting Test Simulator study guide unfortunately, we will switch other versions for you or give back full of your refund. All we do and the promises made are in your perspective.
They have rich experience in predicating the Financial-Accounting-Reporting Test Simulator exam. Then you are advised to purchase the study materials on our websites.
Financial-Accounting-Reporting PDF DEMO:
QUESTION NO: 1
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: 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
Arpco, Inc., a for-profit provider of healthcare services, recently purchased two smaller companies and is researching accounting issues arising from the two business combinations. Which of the following accounting pronouncements are the most authoritative?
A. AICPA Industry and Audit Guides.
B. AICA Statements of Position.
C. FASB Statements of Financial Accounting Concepts.
D. FASB Statements of Financial Accounting Standards.
Answer: D
QUESTION NO: 4
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: 5
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
With years of experience dealing with Microsoft DP-203-KR learning engine, we have thorough grasp of knowledge which appears clearly in our Microsoft DP-203-KR study quiz with all the keypoints and the latest questions and answers. Microsoft DP-300 - Now IT industry is more and more competitive. Just come to buy our SAP C-THR83-2405 learning guide and you will love it. If you are still struggling to prepare for passing EMC D-DS-FN-23 certification exam, at this moment Omgzlook can help you solve problem. Free demos are understandable and part of the Microsoft MB-700 exam materials as well as the newest information for your practice.
Updated: May 28, 2022